The Latest

  • BaaS, Banking as a service, fintech, financial technology, mobile banking, contactless payment
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    A running list of BaaS banks hit with consent orders in 2024

    Regulators have taken a harder look at bank-fintech partnerships. Experts said the orders highlight gaps in due diligence and monitoring related to third-party partners.

  • An employee gets into his car after arriving to work to a shuttered Silicon Valley Bank (SVB) headquarters in Santa Clara, California.
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    Justin Sullivan via Getty Images
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    FDIC weighs lawsuit against ex-SVB execs

    The regulator is considering taking legal action against six former officers and 11 former directors of Silicon Valley Bank over their role in the bank’s collapse and $23 billion hit to the Deposit Insurance Fund.

  • The skyline of Columbus, Ohio, seen behind a river.
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    The image by jpmueller99 is licensed under CC BY 2.0
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    Ohio’s Northwest to acquire Penns Woods in $270.4M deal

    Buying the holding company for Jersey Shore State Bank and Luzerne Bank will give Northwest 24 added Pennsylvania locations and create a $17 billion-asset bank.

  • An equestrian statue of Roman emperor and stoic philosopher Marcus Aurelius on Capitoline Hill in Rome, Italy.
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    PaoloGaetano via Getty Images
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    UniCredit pivots back to Commerzbank, increases stake to 28%

    The move drew stiff rebukes from the German government, which “assumed” any deal was all but dead a month ago. UniCredit said the stake bump does not affect its offer to buy Banco BPM.

  • Abstract blockchain technology concept. Internet security. Isometric digital cube connection background.
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    TU IS
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    Tokenized securities firm Prometheum raises $20M

    Co-CEO Aaron Kaplan plans to use the funds to launch trading services, and to provide a venue for financial institutions and investment firms to offer investors tokenized securities.

  • The financial district in Boston, seen against the Boston Harbor at sunrise showcasing a mix of contemporary and historic buildings.
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    Marcio Silva via Getty Images
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    Berkshire, Brookline ink $1.1B merger

    The Massachusetts banks will together create a $24 billion-asset, 148-branch institution in a transaction expected to close in the second half of 2025.

  • A sign reads "New York Community Bank" and "A division of Flagstar Bank, N.A., Member FDIC"
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    Spencer Platt / Staff via Getty Images
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    Flagstar makes 2nd CFO change this year

    Lee Smith, the bank’s president of mortgage, will take over as chief financial officer Dec. 27, as Craig Gifford will “reengage in personal endeavors outside of banking,” Flagstar said. Gifford joined Flagstar in April.

  • ConnectOne CEO Frank Sorrentino III
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    Permission granted by ConnectOne
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    ConnectOne CEO could weigh more deals in warming M&A climate

    As the bank awaits approval of its purchase of The First of Long Island, ConnectOne’s CEO anticipates enhancements to regulators’ review processes, bringing more streamlined approvals under the Trump administration.

  • Person with shopping bag passes storefront window with Bitcoin sign
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    Chris McGrath/Getty Images Europe via Getty Images
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    What role do stablecoins play in the payments industry?

    With the discussion of stablecoins intensifying after the election of Donald Trump, here’s a primer explaining what this cryptocurrency is and what its practical uses may be.

  • Rohit Chopra looks just off camera as someone else speaks.
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    Drew Angerer / Staff via Getty Images
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    Trade groups sue CFPB over overdraft rule

    It took only one day for trade groups and banks to take legal action against the financial watchdog, which announced its overdraft rule Thursday.

  • An aerial view of the Manhattan skyline at sunset.
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    Nafiz Rahat via Getty Images
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    Carver board members reelected, but activist investor calls for ‘transparency’

    The CEO of investor Dream Chasers, which sought to install two of its own members to the bank’s board, protested the vote and said the firm “will pursue every avenue available to ensure a fair and transparent election.”

  • U.S. Bank CEO Andy Cecere is pictured speaking.
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    Drew Angerer / Staff via Getty Images
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    U.S. Bank CEO talks payments split, a rising DOGE

    Dividing its payments unit into two segments under different leaders points to the significance of the business at the bank, said Andy Cecere, the lender’s chief executive.

  • The Dallas skyline
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    Pgiam via Getty Images
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    SouthState, Independent deal approved by Fed

    The roughly $2 billion deal is the second banking investment or combination to which the central bank has given its blessing in as many days.

  • A person wearing a blue hat and light t-shirt walks past a KeyBank branch location, as the glass reflects the street scene.
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    Spencer Platt / Staff via Getty Images
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    Scotiabank gets Fed’s approval to take bigger KeyBank stake

    The earlier-than-expected green light will let the Canadian lender proceed to Phase 2 of its investment — a $2 billion infusion and the right to name two directors to the Cleveland bank’s board.

  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Ally CEO indicates card business not a core focus

    “In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC’s readiness ‘not sufficiently mature’ in 2023 bank crisis: OIG

    The inspector general laid out 11 recommendations to improve the agency's response, in a report Wednesday.

  • Rep. French Hill
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    Win McNamee / Staff via Getty Images
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    French Hill named next House Financial Services panel chair

    The Arkansas Republican will lead the committee after current chair Patrick McHenry, R-NC, retires at the end of his term.

  • Rohit Chopra looks just off camera as someone else speaks.
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    Drew Angerer / Staff via Getty Images
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    CFPB final rule would pin overdraft fee at $5

    Banks and credit unions with $10 billion or more in assets could alternately choose a break-even overdraft protection cost or make credit card-like disclosures to consumers, the CFPB said.

  • A Wells Fargo bank signage is seen on Broadway on December 20, 2022 in New York City.
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    Michael M. Santiago via Getty Images
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    Nonbranch Wells Fargo workers vote to unionize

    A group of conduct management investigators spread across the country voted to join Wells Fargo Workers United. The National Labor Relations Board certified the vote Tuesday.

  • Rohit Chopra, Director of the Consumer Financial Protection Bureau, giving a speech in an auditorium.
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    Anna Moneymaker via Getty Images
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    CFPB’s Chopra sidesteps resignation question

    When asked by lawmakers whether he would resign Jan. 20, CFPB Director Rohit Chopra said he serves a five-year term but that the president “can remove us at any time.” 

  • Four people walk by a TD bank branch location
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    Joe Raedle / Staff via Getty Images
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    Ex-TD employee charged in money laundering case

    Leonardo Ayala, 24, issued dozens of debit cards linked to accounts opened by another TD employee in the names of shell companies, and received bribes for that work, the Justice Department alleged.

  • Wells Fargo CEO Charlie Scharf
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    Drew Angerer / Staff via Getty Images
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    Wells Fargo’s Scharf calls for capital requirements clarity

    The bank’s CEO on Wednesday called uncertainty around how much extra capital banks will be required to hold “a crazy way to run a system.”

  • PNC CEO Bill Demchak
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    Drew Angerer/Getty Images via Getty Images
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    PNC’s Demchak: De-regulation clamor is overblown

    “I think people are a little bit too excited … that they’re just going to let everybody run free here,” the Pittsburgh bank's CEO said. “I don’t see that at all.”

  • Coinbase
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    Courtesy of Coinbase
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    FDIC letters give credence to ‘Choke Point 2.0’ claims: Coinbase CLO

    The agency asked nearly two dozen banks to pause crypto-related activity in 2022, according to letters unveiled via Coinbase’s FOIA requests.

  • Legal finance
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    matt_benoit via Getty Images
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    Evolve seeks dismissal of Yotta lawsuit

    Yotta sued its partner bank Evolve in September, four months after its customers were locked out of millions of dollars in funds in connection to middleware firm Synapse’s bankruptcy.