The Latest

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    Florida’s BayFirst sheds 51 jobs, shutters SBA loan platform

    The bank’s COO called out older, smaller loans as a trouble spot. BayFirst counted $1.5 million in first-half losses and expects to take a third-quarter restructuring charge. It’s also suspending dividend payouts.

  • The Capital One Financial Corporation headquarters buildings in Tysons Corner, Virginia on Sept. 21, 2022.
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    John M. Chase via Getty Images
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    Why Capital One’s software division created its own data security tool

    When the bank couldn’t find a commercially available tokenization software tool, it tapped its engineering team to build one.

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    Dan Kitwood via Getty Images
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    CFTC, SEC make quick work on crypto movement

    Both regulators announced plans last week to get going on crypto regulation that aligns with a report by the President’s Working Group on Digital Assets. They’ve already made waves this week.

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    Creative via Getty Images
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    Simmons names next chief; CEO Makris to retire

    Jay Brogdon will succeed George Makris Jr. after he retires at year end. Marty Casteel, a director of the company, will become chair Jan. 1, 2026.

  • The entrance to the Consumer Financial Protection Bureau headquarters is seen, with the bureau's logo on a glass door.
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    Anna Moneymaker / Staff via Getty Images
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    Column

    Dive Deposits: CFPB claps back at GAO

    The bureau’s chief legal officer defended Acting Director Russ Vought’s decision to decline funding from the Federal Reserve, saying the move did not constitute an illegal withholding.

  • 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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    Will JPMorgan take a bigger bite of Apple?

    If the bank makes a play for the tech company's credit card portfolio, it may also make a broader bid for more business.

  • A Fifth Third Bank sign shows "5/3" with the words "Fifth Third Center" and "Bank Branch" below.
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    Courtesy of Fifth Third Bank
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    Fifth Third, expanding to Alabama, aims to ‘show up differently’

    The lender’s head of consumer banking touts an open-air atmosphere and “consultative” priority that is far removed from his early-career days as a teller.

  • A man with silver hair in a suit gestures at a podium.
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    Anna Moneymaker via Getty Images
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    Column

    Dive Deposits: The Fed may have out-Fridayed itself

    Fed Gov. Adriana Kugler’s resignation may have overshadowed two dissents on the interest rate. But a single opening at the central bank may not carry as much impact as President Trump would hope.

  • People enter and exit UBS Bank in NYC.
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    Chris Hondros via Getty Images
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    UBS to pay $300M to settle Credit Suisse mortgage securities case

    The Zurich-based lender’s agreement with the U.S. Justice Department will resolve the remaining consumer relief obligations from the 2017 settlement, UBS said Monday. 

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    Spencer Platt via Getty Images
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    Ex-Flagstar CEO accused of illegal conduct

    A former compliance executive at the bank sued Alessandro DiNello, saying the ex-CEO knew of a client’s money laundering and discussed sensitive information while a “junior employee sat on his lap.” 

  • Martin Gruenberg addresses the Senate Banking Committee.
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    Win McNamee via Getty Images
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    Gruenberg named in FDIC workplace misconduct report

    Four other ex-FDIC officials were not identified in the Office of the Inspector General’s findings, which followed a November 2023 WSJ exposé of the allegedly toxic culture.

  • Charlie Scharf, Wells Fargo CEO
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    Win McNamee / Staff via Getty Images
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    Wells Fargo gives CEO Scharf a $30M award, names him chair

    The executive joins the CEOs of Goldman Sachs and Capital One in receiving eight-figure equity awards this year. Citi will be the only U.S. SIFI with separate CEO and chair roles.

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    Permission granted by Frost Bank
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    Frost CEO: Lending competition heating up

    For the Texas bank, loans lost to other lenders because of structure continued to increase in the second quarter. “I think this represents the level of competition developing in the market,” CEO Phil Green said.

  • The Canary Wharf headquarters of Barclays Bank.
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    Oli Scarff via Getty Images
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    Barclays exits climate alliance, following HSBC

    “With the departure of most of the global banks, the [Net Zero Banking Alliance] no longer has the membership to support our transition,” Barclays said.

  • The building features a modern glass façade with the Citibank logo prominently displayed above the entrance. Pedestrians are visible on the sidewalk, and the surrounding area includes other commercial buildings.
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    Alamy
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    Citi targets commercial clients going through global growing pains

    The lender is angling to consolidate banking business for mid-sized corporate clients who’ve racked up a litany of banking partners around the world, according to the global head of Citi’s commercial bank.

  • Double exposure image of coin stacks on technology financial graph background.Economy trends background for business ,financial meltdown ,Cryptocurrency digital economy.
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    Getty Images via Getty Images
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    Trump-appointed group calls for clear crypto regulation, tax changes

    The long-awaited, 166-page report detailed regulatory and legislative suggestions in the interest of “the new American Golden Age.”

  • A green sign reads "TD" in white letters.
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    Spencer Platt / Staff via Getty Images
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    Q&A

    TD exec keeps sight of customer trust amid AI rush

    Consumers are more comfortable with AI but still want human connection when it comes to certain services, making it crucial for banks to meet customers where they are, said TD Bank’s head of analytics, intelligence and AI.

  • An entrance to a Madison Avenue JPMorgan Chase building is shown, with revolving doors and a person walking in the foreground.
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    Michael M. Santiago / Staff via Getty Images
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    JPMorgan teams up with Coinbase

    The U.S.’s biggest bank will partner with the crypto exchange to link Chase bank accounts and Coinbase crypto wallets.

  • The Office of the Comptroller of the Currency logo
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    Creative via Getty Images
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    Former SoFi GC named OCC chief counsel

    Adam Cohen will join the OCC from the law firm Skadden. He’s previously held roles at both the CFTC and Federal Reserve.

  • CFPB open banking banks Russell Vought fintechs
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    Chip Somodevilla via Getty Images
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    CFPB to ‘substantially’ revamp open banking rule, it says

    A judge stayed a court case challenging the rule after the bureau said it would “reexamine” the matter and find a “well-reasoned approach” that “aligns with the policy preferences of new leadership.”

  • A brick commerical building entrance facade with a "Capitol One Bank" logo displayed above the doors.
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    Alamy
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    Capital One delivers few details on $265B community plan

    A year after touting a community investment proposal as part of an effort to acquire Discover, the card issuer has yet to lay out program specifics.

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    SMBC, Fin Capital to invest $300M in US fintechs

    Sumitomo Mitsui Banking Corporation launched a similar venture in 2023 focused on Asia-based start-ups, and it's thus far made six investments.

  • A black "WISE" company logo is displayed on a white glass wall of a commercial building.
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    Alamy
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    Wise shareholders vote to move primary listing to US

    One of the fintech’s co-founders criticized the measure, saying an attached initiative to extend “golden share” voting rights to longtime investors should have been separate.

  • A paneled building facade with "Bank of America" signage and logo is shown above an entrance with glass doors.
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    Caitlin Mullen/Banking Dive
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    BofA taps next tech chief

    Aditya Bhasin, the lender’s chief technology and information officer since 2021, is leaving the bank and will be replaced by Hari Gopalkrishnan, who’s been at BofA since 2011.

  • A building is shown with a sign that reads, "Comerica Bank" in the foreground
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    Courtesy of Comerica
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    Activist investor pressures Comerica to sell

    HoldCo alleged that a larger bank could buy Comerica without major capital issues, putting forth PNC, Fifth Third and Huntington as options that “make sense.”