The Latest
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Evolve to settle data breach lawsuit for nearly $12M
Individual claimants – of which there are 18 million – can request settlements of up to $3,000 after data was allegedly improperly protected by the bank.
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Judge tosses racial bias suit against Citi over ATM fee waivers
The lawsuit accused the New York City-based bank of “unabashed racial discrimination” for waiving ATM fees for customers of minority-owned banks but not for white-owned banks.
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Hope Bancorp completes merger with Territorial
The Los Angeles bank's victory caps a nearly yearlong battle for the Hawaii bank, which saw repeated competing offers from Blue Hill Advisors.
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BofA’s Holly O’Neill gets expanded role
Bank of America is combining consumer units and giving one of its most senior women a bigger role leading the lender’s retail, consumer and preferred banking divisions.
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‘Stalled in the starting blocks’: Banks await certainty as Trump policies chill M&A
Tariff volatility has roiled bank stocks, creating roadblocks for some would-be mergers and acquisitions that lean on valuations, analysts said.
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Robinhood to launch banking product
The fintech aims to bring a “private banking experience” with the checking and savings account products it's launching this fall, a Robinhood executive said.
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Atomic scores $10M more in investments
“What bill pay was in the ‘90s and early 2000s, we want bill management to be [now] ... to transform how people interact with companies that they owe money," Atomic co-founder Jordan Wright said.
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JPMorgan alum Georgakopoulos promoted to Fiserv’s COO
The 17-year JPMorgan alum replaced Guy Chiarello as chief operating officer, with the latter moving to a vice chair role at the payments processor.
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Amex opposes shareholder proposal over diversity incentives
A conservative legal group wants American Express to end financial incentives for executives who source diverse suppliers, although the card issuer says it doesn’t offer those anymore.
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HomeStreet to merge with California’s Mechanics Bank
The deal, set to close in the third quarter, values the Seattle lender at $300 million. The offer comes about four months after HomeStreet’s proposed tie-up with FirstSun collapsed.
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FB Financial to acquire Southern States for $381M
Acquiring $2.8 billion-asset Southern States would grow Nashville, Tennessee-based FB to $16 billion in assets and expand its footprint in Alabama and Georgia.
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Tennessee ends Wells Fargo probe after bank scraps net-zero target
The state's attorney general, Jonathan Skrmetti, "commend[ed] Wells Fargo’s pro-consumer decision to step away from utopian policymaking." Seventeen other states had joined the probe.
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Anna Hrushka/Banking Dive
FDIC eases crypto rules for banks
Banks can engage in crypto-related activities, but must still exercise proper caution, the agency said.
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Early Warning Services drops Zelle stand-alone app
Zelle users will need to turn to their online banking portals in light of EWS proceeding as planned with the shutdown of its Zelle app this month.
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Retrieved from OCC.
OCC ends climate risk guidance for large banks
Acting OCC chief Rodney Hood called the guidance "burdensome and duplicative." However, a policy advocate at Public Citizen labeled the move "deeply irresponsible."
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Permission granted by U.S. Bank
U.S. Bank executive dead in plane crash
A plane that crashed in a Minneapolis suburb Saturday was registered to Terry Dolan, the lender’s chief administration officer. CEO Andy Cecere confirmed in a Monday memo to employees that Dolan died in the crash.
Updated March 31, 2025 -
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Judge grants preliminary injunction in CFPB case
The agency must reinstate fired probationary and term employees and can’t enact mass reductions in force, the court said. The injunction also lifts CFPB Acting Director Russ Vought’s stop-work order.
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Frank founder, chief growth officer convicted of fraud
Charlie Javice and Olivier Amar face up to decades in prison for falsifying Frank’s customer numbers amid its $175 million sale to JPMorgan Chase.
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Goldman’s $80M executive bonuses draw flak from proxy adviser
Glass Lewis recommended investors vote against Goldman Sachs’ CEO and president each receiving $80 million retention bonuses.
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Why banks are all-in on open source
Morgan Stanley, JPMorgan Chase and other industry giants are reaping efficiency rewards and attracting tech talent simply by sharing code.
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Lynne Marek/Banking Dive
Discover CEO may reap $2.4M bonus
Michael Shepherd will remain as interim chief executive officer potentially through June, and receive a $2.4 million cash bonus if the sale to Capital One closes by then.
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Fed, OCC, FDIC seek to rescind CRA final rule
Federal banking regulators pointed to pending litigation as the reason for pulling back the 2023 rule.
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Senate votes to overturn CFPB overdraft rule
The bureau’s measure to cap overdraft at $5 is a House vote and presidential signature away from being repealed.
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Permission granted by Truist
Truist’s wealth advisers hone their listening ear
The Charlotte, North Carolina-based bank is emphasizing listening cards to guide advisers' conversations with clients past the pitch stage.
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Permission granted by Office of the Comptroller of the Currency
Acting comptroller Hood revamps OCC unit
After restructuring, the Office of External Relations and Strategic Partnerships will be headed by Andrew Moss, Rodney Hood’s acting chief of staff.
