The Latest

  • The Federal Reserve building is shown while undergoing renovations.
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    Goldman, Citi, BofA CEOs back a free Fed as Trump weighs Powell options

    The president reportedly brandished a letter firing the Fed chair, then backed off, saying he likely wouldn’t dismiss him “unless he has to leave for fraud.”

  • Front view of the Bank of America Tower in Charlotte, North Carolina on June 18, 2022.
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    hapabapa via Getty Images
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    Bank of America touts AI gains amid industrywide adoption push

    The company deployed automated coding tools to its 17,000 software developers, CEO Brian Moynihan said Wednesday.

  • Federal Reserve Gov. Michael Barr speaks into a microphone during a congressional hearing.
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    Kevin Dietsch / Staff via Getty Images
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    ‘Resist’ deregulatory spree, Fed’s Barr warns

    Loosening regulations “often appears justified at the time and may be implemented by well-meaning policymakers who simply miscalculate the long run effects of their actions,” the Fed governor said.

  • A sign shows the FDIC acronym in the foreground on the left, and glass doors and an FDIC rug in the background to the right.
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    Creative via Getty Images
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    FDIC proposes inflation index, changes to ILC rules

    One proposal would protect smaller banks from shouldering too heavy a burden if inflation – rather than a change in size, risk profile or complexity – were to push a bank over a threshold.

  • A JPMorgan Chase logo stands in front of a building on a city street.
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    subman via Getty Images
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    Why small banks may shun Zelle

    The peer-to-peer payment network charges comparatively higher transaction rates, but also offers the potential for new customers, consultants say.

  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images
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    Fed drops enforcement action against Texas holding company

    The central bank ended its cease-and-desist order against Industry Bancshares eight months after it was issued and the same month Cadence Bank’s acquisition of Industry closed.

  • Finance teams using AI already seeing ROI.
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    Nutthaseth Vanchaichana via Getty Images
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    Anthropic rolls out financial AI tools to target large clients

    Claude for financial services can “turbocharge” the work analysts or fund managers are already doing by serving as their research analyst assistant, said Jonathan Pelosi, global head of industry for financial services at Anthropic.  

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    Permission granted by Hive Wealth
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    Hive Wealth brings ‘digital family office’ to masses with AI

    Yvette Sadler Butler has spent the last three decades building investment tools for big banks. Now, she wants to bring “a digital family office” to the masses.

  • fintechs JP Morgan Chase open banking APIs
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    Joe Raedle via Getty Images
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    Fintechs blast JPMorgan over data fees

    The largest U.S. bank says it will begin charging the firms to access customer financial data. PNC’s CEO applauded the effort.

  • A sign reads "Wells Fargo" with the bank's logo below.
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    Michael M. Santiago / Staff via Getty Images
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    Wells Fargo workers allege union-busting again

    Employees rallied in Charlotte on Tuesday to call attention to allegations that a senior HR exec at the bank is coercing workers to decertify their union.

  • The CEO of JPMorgan Chase, Jamie Dimon, speaks in front of a blue background
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    Kevin Dietsch / Staff via Getty Images
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    JPMorgan’s Dimon: Fed independence ‘absolutely critical’

    The CEO of the biggest U.S. bank warned Tuesday that “playing around with the Fed can often have adverse consequences.”

  • The Office of the Comptroller of the Currency logo
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    Creative via Getty Images
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    OCC drops disparate impact liability from supervision, exam metrics

    The agency’s rollback is a direct follow-up to President Donald Trump’s April executive order calling to “deprioritize” enforcement of disparate impact.

  • Atlanta skyline over Piedmont Park
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    Marilyn Nieves via Getty Images
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    SC’s First Community broaches Atlanta area in $41.6M deal

    Buying Signature Bank of Georgia would boost First Community’s Small Business Administration lending and create a bank with 23 locations and roughly $2.3 billion in assets, the companies said.

  • A small, single-story bank building with a red brick and white exterior and a green trim; the sign says "Huntington."
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    Alamy
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    Huntington to buy Texas bank for $1.9B

    The Columbus, Ohio-based regional lender will dive deeper into the Lone Star State with the acquisition of Veritex Community Bank’s holding company.

  • A Bank of America office location is shown, with the bank's flag logo and "Bank of America" signage on the building front.
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    Caitlin Mullen/Banking Dive
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    Q&A

    How Bank of America keeps tabs on what customers want

    This year, the Charlotte, North Carolina-based lender has added capabilities related to fraud claims and card arrivals, in response to customer feedback or inquiries, an executive said.

  • In this aerial view from a drone, the Washington State Capitol
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    David Ryder via Getty Images
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    First Fed Bank CEO resigns, COO tapped as interim chief

    Matthew Deines, who served as CEO for six years, announced his exit following a lawsuit filed by a Jefferies hedge fund group alleging the bank’s involvement in a fraudulent scheme.

  • Jerome Powell
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    Vincent Alban via Getty Images
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    Column

    Dive Deposits: Fed pushes back on Vought’s skewering of renovation

    In an FAQ document, the central bank appears to emphasize it’s responding to senators’ concerns, not the OMB chief’s, and that it has cooperated with a capital planning panel.

  • Senators Tim Scott and Elizabeth Warren converse during a Senate Banking Committee meeting.
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    6 takeaways from the Senate’s crypto market structure hearing

    Senators largely agreed on the need for regulation, but differed on the potential focus and framing of such a bill.

  • A white stone government building with columns at nighttime
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    Ohio bank to acquire in-state peer in $70.4M deal

    Civista Bancshares will buy The Farmers Savings Bank in a transaction set to close in the fourth quarter. Civista has also launched an underwritten public offering of its common shares, aiming to raise $70 million. 

  • The words Federal Reserve engraved in a marble building with an eagle above.
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    Douglas Rissing via Getty Images
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    Big banks could get easier route to ‘well-managed’ status

    Michelle Bowman dubbed the Federal Reserve’s proposal “the first step” in aligning supervisory ratings with a sharper focus on material financial risk, but Michael Barr warned the move would undermine supervision and introduce risk.

  • open banking CFPB regulations fintechs FTA Vought
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    Kayla Bartkowski via Getty Images
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    Column

    Dive Deposits: The time Russ Vought moonlighted as a 1980s action star

    The acting CFPB director accessed his inner Sylvester Stallone, using his position as the White House’s budget chief to grill Federal Reserve Chair Jerome Powell on a hot-button renovation.

  • The HSBC building is seen at Canary Wharf.
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    Scott Barbour via Getty Images
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    HSBC leaves climate coalition, following US banks

    The U.K.-based bank became the latest to exit the United Nations-backed Net-Zero Banking Alliance, as an exodus of U.S. banks has spread.

  • The Office of the Comptroller of the Currency logo
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    Creative via Getty Images
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    Jonathan Gould confirmed to lead OCC

    Senate Banking Committee Republicans said in a statement they hope Gould “return[s] the OCC to its true purpose of chartering and supervising banks to ensure a safe and sound banking system.”

  • 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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    TD names Treasury vet to financial crime risk management post

    Andrew Jensen joined the Canadian lender last year as global head of sanctions. Jensen will maintain those duties, too, when he moves into his new role Monday.

  • Pennsylvania state capitol in Harrisburg
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    benedek via Getty Images
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    Pennsylvania banks to merge in $54.9M deal

    Wayne Bank, a subsidiary of Norwood Financial Corp., will expand its footprint into central and southeastern Pennsylvania with the acquisition of Presence Bank.