The Latest

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    Wall Street bonuses expected to grow across all sectors, consultant finds

    Investment banking debt underwriters could see a surge in annual payouts up to 35% due to revenues booming on debt issuance growth, a report published by Johnson Associates said.

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    Nafiz Rahat via Getty Images
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    Column

    Dive Deposits: Carver Bank and the return of the thorn-in-the-side investor

    Investment fund Dream Chasers again floats two nominees to take board seats at the Black-owned bank. But does its end strategy for Carver align more with Ping An, Blue Hill Advisors or UniCredit?

  • Republican presidential nominee, former U.S. President Donald Trump points to supporters with former first lady Melania Trump during an election night event at the Palm Beach Convention Center on November 06, 2024 in West Palm Beach, Florida.
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    Chip Somodevilla/Getty Images via Getty Images
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    Execs from 6 banks weigh in on impact of Trump’s election

    Leaders at Citi, U.S. Bank, Fifth Third and more reflected on what the industry can likely expect – and what they’re hoping for – out of a second Trump presidency.

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    Maks_Lab via Getty Images
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    Michigan credit union expands Florida footprint with second bank acquisition

    The latest transaction by DFCU Financial marks the 20th whole bank-credit union deal announced this year.

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    Mario Tama via Getty Images
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    Column

    Dive Deposits: Morgan Stanley can’t keep everyone

    The bank may have developed a reputation for persuading executives to stay. But its co-head of investment management just left to become CEO of an asset management unit at insurance giant Prudential.

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    Warchi via Getty Images
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    Q&A

    Open banking to move toward FDX standard, Jack Henry exec says

    Industry collaboration on open banking is likely to move forward, with or without the CFPB’s recent final rule, says the payment processor's head of engineering.

  • former binance ceo changpeng zhao
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    David Ryder via Getty Images
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    FTX suing Binance, founder for $1.76B

    The FTX estate is looking to recoup funds it alleged were “fraudulently” transferred to Binance in 2021.

  • A PNC branch in Denver is shown, with "PNC Bank" signage on the exterior of the building.
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    Courtesy of PNC
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    PNC doubles branch expansion plans

    Expanding upon branch growth plans announced earlier this year, the super regional aims to spend an additional $500 million to dig deeper in the Southeast and Southwest.

  • Navy Federal Credit Union, Douglasville Georgia location
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    Permission granted by Navy Federal Credit Union
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    Navy Federal to pay $95M in CFPB overdraft case

    The nation’s largest credit union charged overdraft fees on purchases made with sufficient funds from 2017 to 2021, generating about $44 million per year from “surprise” fees, the CFPB said.

  • Goldman Sachs CEO David Solomon appears onstage.
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    Paul Morigi via Getty Images
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    Goldman names 95 new partners, most since 2010

    The bank touted the diversity of its new class, which included 26 women. But that’s 27%, short of 29% from two years ago. About 4% of new partners are Black, less than half the 9% from 2022.

  • Blocks spell M and A
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    Nastassia Samal via Getty Images
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    How a second Trump term may change bank M&A

    Under Trump, bank deal approvals are likely to “speed up markedly and the process will be more clearly delineated,” one analyst predicted.

  • Federal Reserve Chair Jerome Powell.
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    Scott Olson via Getty Images
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    Powell says he would not resign if Trump asks

    The comment — punctuated by the assertion that Trump doesn't have the authority to demote a Fed governor — comes as the central bank cut interest rates by a quarter percentage point.

  • Paze's logo is displayed on a smart phone.
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    Photo illustration: Shaun Lucas/Industry Dive; Getty Images; Paze

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    Paze gets new leader amid slow start

    Early Warning Services, the bank-owned company that operates Paze, tapped a new leader last month for the digital wallet operation after slow progress in launching the new service.

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    Gregory Zamell via Getty Images
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    Hawaii bank’s shareholders back acquisition by LA-based Hope

    Territorial Bancorp reiterated its commitment to the Hope merger and urged its shareholders to vote in its favor after receiving a higher offer from an investor group. 

  • The skyline of the city of St. Louis, Missouri on the banks of the Mississippi River.
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    Art Wager via Getty Images
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    Stifel rejects CFTC’s WhatsApp settlement offer

    The St. Louis-based investment bank has set aside provisions but said it can't “state with certainty that a settlement will be achieved." Stifel accepted a $35 million SEC penalty in September.

  • Donald Trump gestures while speaking into a microphone, with blue and white text blurred in the background.
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    Chip Somodevilla / Staff via Getty Images
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    6 regulatory moves, people whose days are numbered under Trump

    With another Trump presidency set to kick off in January, the clock has turned against several Democratic appointees and agenda items.

  • Green and white signage on the exterior of a building reads "TD Bank."
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    Spencer Platt / Staff via Getty Images
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    Ex-TD financial adviser alleges racism, retaliation

    Keron McNeil sued the bank, alleging he was subject to racism and retaliation from a colleague and a supervisor, and that after he brought the issues to HR, he lost his job.

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    Cross River drops lawsuit against Fiserv subsidiary

    The Fort Lee, New Jersey-based lender dismissed its lawsuit against First Data Merchant Services, which was filed in October 2023, without disclosing a reason. 

  • Sign on doorway for the Federal Trade Commission in Washington, D.C.
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    LD via Getty Images
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    FTC sues fintech Dave over alleged misleading marketing, undisclosed fees

    The Federal Trade Commission filed a complaint Tuesday claiming the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.

  • 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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    First Wells Fargo contract negotiations set to begin

    Wells Fargo Workers United members in Albuquerque are sitting down this week with representatives from their employer to set off inaugural contract negotiations, 11 months after voting to unionize.

  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Banking Dive
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    Fed aims to make instant payments the norm

    “It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at an industry conference last week.

  • DOJ voluntary self-disclosure pilot program
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    Bo Shen via Getty Images
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    Visa lawsuit may complicate DOJ’s scrutiny of Capital One-Discover deal, analysts say

    If the Justice Department were to block the Capital One-Discover deal while also going after Visa, “they’d be intellectually inconsistent,” a George Mason University law professor said.

  • Dollar bills lie in a pile.
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    Alex Wong via Getty Images
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    Flagstar taps CIO, credit review chief

    The bank has brought on a number of new executives this year and also completed the sale of its mortgage business to Mr. Cooper on Friday.

  • A shot at night of the Philadelphia skyline.
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    halbergman via Getty Images
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    Mid Penn Bancorp to acquire in-state peer in $127M deal

    The lender will acquire William Penn Bancorp in an all-stock transaction expected to close in the first half of 2025 to expand in the greater Philadelphia metro area.

  • A close up view of a stack of visa bank cards.
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    Justin Sullivan via Getty Images
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    Stablecoins face obstacles to widespread adoption

    The digital currencies could simplify cross-border payments, but consumers are wary of using them, payments and fintech executives say.