Private-equity firms offer olive branch in junior banker recruiting

Apollo and General Atlantic won’t interview or extend offers for roles starting in 2027 to bankers who start training next month. The practice has drawn flak from JPMorgan CEO Jamie Dimon.

JPMorgan seeks to dismiss part of $481M CRE lawsuit

Wells Fargo “seeks to hold JPMorgan liable” for a real estate company’s “criminal conduct, even though JPMorgan was the victim of that crime,” JPMorgan asserts in a motion.

Judge dismisses case against First Republic execs, auditor

A lawsuit filed in June 2023 claimed that the failed bank’s executives and auditor made misleading statements about the lender’s financial conditions and assets.

Regions plans to make the most of M&A ‘disruption’

“If somebody’s going to do a deal where we are, then we’re going to be all over customers and people and trying to grow our business,” Regions CFO David Turner said Tuesday.

CFPB’s top enforcement official resigns

Cara Petersen, the bureau’s principal deputy enforcement director, bemoaned “thoughtless reductions in staff, inexplicable dismissals of cases, and terminations of negotiated settlements” in an email Tuesday.

How 3 banks are capitalizing on AI

Lloyds, NatWest and Truist are building on in-house productivity gains to scale more ambitious use cases.

Varo’s new tech chief views responsible AI as differentiator

Rathi Murthy, who became the San Francisco-based all-digital bank's CTO in March, has hired for two new and complementary roles aimed at business diligence and strategic development.

Gemini pursues IPO

A number of cryptocurrency firms have filed for initial public offerings in 2025. More may follow given “pent-up demand for crypto-oriented companies,” according to one crypto VC.

FTA CEO says open banking central to fintechs’ work

The leader of the Financial Technology Association sees a federal court battle over the Consumer Financial Protection Bureau rule as critical to innovation.

Citi offers hybrid employees 2 weeks of remote work in August

The perk stands in contrast to tightening in-office requirements at JPMorgan Chase, BNY, Royal Bank of Canada and, most recently, Scotiabank.

Truist looks to optimize digital onboarding

With a sharper focus on customer experience, Truist is working to smooth out the onboarding process and increase personalization in its digital banking channels, an executive said.

OCC rejects call to rescind preemption rule

Acting Comptroller Rodney Hood called preemption a “cornerstone of the dual banking system.”

CFTC nominee Quintenz seeks to leverage crypto expertise

Brian Quintenz, who served as CFTC commissioner from 2017 to 2021, is Andreessen Horowitz’s head of crypto policy initiatives.

6 takeaways from Michelle Bowman’s first speech as Fed vice chair

Following her confirmation, Bowman laid out plans to unravel some of the rules put in place since Dodd-Frank to better tailor them to institutions of varying sizes.

Senate Republicans would cut off CFPB funding from Fed

A version of the “One Big, Beautiful Bill” from Friday would also cut pay for the Fed’s non-monetary policy employees and eliminate the Office of Financial Research.

Needham to acquire BankProv for $212M

The acquisition, expected to close in the fourth quarter, is set to expand Needham’s footprint into Massachusetts’ North Shore and New Hampshire, where it already has business customers.

Moelis names next CEO

Navid Mahmoodzadegan will replace Ken Moelis when the investment bank’s namesake and co-founder steps down to become executive chair Oct. 1.

Walmart returns to Synchrony for new cards

The shift comes more than a year after the retailer received permission from a federal judge to end its credit card partnership with Capital One because of customer service issues.

Fifth Third takes ‘intentionally unsexy’ approach to mobile app improvements

“It is more important to customers that banking works, than that banking is delightful,” said Fifth Third’s chief strategy officer and head of consumer products.

Capital One to give CEO Fairbank a $30M award

The bank’s CFO, general counsel and two other executives are also set to receive multimillion-dollar bonuses over “ongoing and anticipated” work to integrate newly acquired Discover into the bank.

Yotta sues Evolve alleging ‘Ponzi scheme’

A federal judge dismissed Yotta's September lawsuit against the lender for alleged misappropriation of millions. Yotta filed a new lawsuit Wednesday with a fresh “Ponzi scheme” accusation.

BMO hires BofA vet Levine

Aron Levine will become group head and president of BMO U.S., effective July 7. Additionally, Ernie Johannson, one of the bank’s highest-ranking women executives, is retiring in early 2026.

Pulaski Bank’s failure spurred by ‘impaired capital’: FDIC OIG

The shuttered Chicago-based lender had deposit liabilities of nearly $20.7 million unaccounted for in its core system, the regulator’s office found.

Senate confirms Bowman as Fed supervision czar

The 48-46 party-line vote hints at partisan rancor and concern by Democrats about deregulation and the central bank’s independence.

Fed lifts Wells Fargo’s asset cap

The regulator’s board lifted the $1.95 trillion asset cap the bank has operated under since 2018, but certain provisions of the consent order remain.