The Latest

  • A stone sign reads "U.S. Bankruptcy Court."
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    Reptile8488/iStock via Getty Images
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    BaaS startup Solid files for bankruptcy

    Arjun Thyagarajan, the company's CEO and co-founder, filed for Chapter 11 in a Delaware court, citing “costly litigation” and an inability to raise capital since 2022.

  • A man sits at a table as photographers stand over him.
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    Andrew Harnik via Getty Images
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    CFPB’s Vought wants to strip away ‘guidance’ en masse

    The bureau’s acting director said the Biden administration used guidance as a substitute for formal regulation and gave eight CFPB offices two weeks to save any previous guidance they deem necessary.

  • People walk past a Bank of America branch on a city street.
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    Spencer Platt / Staff via Getty Images
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    Bank of America ordered to pay FDIC $540M in risk lawsuit

    A judge’s decision, made public Monday, marks the latest development in a yearslong legal fight between the bank and the regulatory agency over the unpaid deposit insurance assessments.

  • Edward Jones
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    Permission granted by Edward Jones
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    Edward Jones resubmits ILC charter application

    The investment firm originally sought a charter in 2020, but abandoned its efforts in 2022. It still plans to move forward with its retail banking partnership with U.S. Bank this year.

  • earned wage access lawsuits
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    Michael M. Santiago via Getty Images
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    NY AG sues MoneyLion, DailyPay

    The state’s lawsuits seek to wind down the companies' earned wage access practices in New York.

  • 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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    CFPB drops case against Comerica

    The bureau dismissed the case without prejudice – meaning it could refile the lawsuit – setting it apart from other recent dismissals by the Russ Vought-led CFPB.

  • 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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    Appeals court allows some CFPB firings

    The bureau can terminate employees who are determined, after an individualized assessment, to be unnecessary to the agency’s statutory duties, a three-judge panel ruled.

  • Raymond Chun, TD executive, poses for a photo wearing a suit and tie
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    Courtesy of TD
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    TD acknowledges ‘darkest day’ in shareholder meeting

    The bank’s chair called October’s $3.09 billion settlement “extraordinarily painful.” Investors voted in four new board members Thursday, including Morgan Stanley’s former deputy CFO.

  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Ally’s DEI suit dismissed after bank reduces emphasis

    America First Legal dropped its lawsuit against Ally Financial after the lender largely scrubbed diversity references from its public filings.

  • The cab of a semi truck appears blurry while driving past a stack of shipping containers in the background.
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    Spencer Platt / Staff via Getty Images
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    Tariffs may prompt clients to revisit supply chain financing: Wells exec

    Flexible financing “will be essential to businesses” if higher-than-expected tariffs take effect, said Jeremy Jansen, Wells Fargo's managing director of supply chain finance.

  • Jamie Dimon, the CEO of JPMorgan Chase bank, talks and holds his hands out in front of him.
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    Kevin Dietsch / Staff via Getty Images
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    Dimon points to ‘turbulence,’ sees uncertainty persisting through July

    The trade war poses certain risks to JPMorgan Chase, given its global reach. “Add that to the list of worries – we will be in the crosshairs,” CEO Jamie Dimon said Friday.

  • City skyline behind trees and homes.
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    benedek via Getty Images
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    Ex-Frost employee sues bank, alleging retaliation, conspiracy

    Chad Jones, a former investment adviser at the bank, accused two former colleagues of “act[ing] in concert to create a false narrative and shield gross incompetence from internal scrutiny.”

  • Longworth Congressional Building
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    Win McNamee via Getty Images
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    House votes to overturn CFPB overdraft rule

    The rule that would cap overdraft fees at $5 now goes to President Donald Trump, who has indicated he will sign a measure to nullify the CFPB cap.

  • Senator Elizabeth Warren speaks during a Senate hearing.
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    Kayla Bartkowski / Staff via Getty Images
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    Warren presses Fed’s Bowman on tariff stance

    The senator grew exasperated when the nominee for vice chair for supervision suggested a wait-and-see approach on Trump policy.

  • 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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    How Bank of America scaled AI

    Innovation sessions, governance oversight and a clear focus on solving practical problems helped shape internal and customer-facing use cases.

  • Andy Barr, Kentucky Republican, speaks during a Congressional hearing.
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    Chip Somodevilla / Staff via Getty Images
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    Lawmakers push House bill on reputational risk

    Reps. Andy Barr, R-KY, and Ritchie Torres, D-NY, introduced companion legislation of the Senate’s FIRM Act to remove reputational risk as a component in bank supervision.

  • litigation funding, advisory committee on civil rules
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    alfexe via Getty Images
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    Evolve, Lineage Bank face lawsuit over missing funds

    The two lenders, former partner banks of fintech Synapse, were hit with a proposed class action Friday over mismanagement of funds allegedly held at the banks. 

  • Scott Bessent, secretary of the Treasury Department, speaks in front of a blue background.
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    Kayla Bartkowski / Staff via Getty Images
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    Treasury eyes bigger regulatory role, Bessent says

    The treasury secretary said he wants regulatory tailoring to ensure smaller community banks matter on a wider scale.

  • An exterior shot of a Fifth Third Bank location is shown
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    Courtesy of Fifth Third
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    Fifth Third hires ex-M&T CFO to lead regional banking

    Darren King will “drive strategy, cultivate talent and pursue growth” as Fifth Third pushes southeast, the bank said. He succeeds Kris Garrett, the lender’s retiring wealth and asset manager.

  • Tim Scott speaks during a Senate hearing
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    Bonnie Cash / Stringer via Getty Images
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    The smaller the CFPB, ‘the better,’ Senate banking chair says

    Sen. Tim Scott, R-SC, estimated a timeline for a vote on the nominee to lead the CFPB and detailed how his working relationship with Sen. Elizabeth Warren differs from that with previous Democratic leadership.

  • OCC
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    Retrieved from OCC.
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    OCC discloses major hack

    Attackers gained unauthorized, prolonged access to the banking regulator’s email system and may have seen numerous messages containing highly sensitive data.

  • Travis Hill, vice chair of the Federal Deposit Insurance Corp.
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    Retrieved from FDIC on January 13, 2025
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    ‘Fallen off a cliff’: 3 ways Travis Hill wants to boost de novos

    Lower upfront capital for “noncomplex” community banks, a revamped application process for fintechs and an open mind toward ILCs are some of the suggestions the FDIC’s acting chief floated Tuesday.

  • bitcoin
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    Getty Images/Staff via Getty Images
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    DOJ scales back crypto enforcement

    The Justice Department will stop prosecuting “unwitting” regulatory violations and focus its efforts on going after those who victimize crypto investors or use crypto to support illicit activities.

  • PNC signage is seen atop an office building.
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    Jeff Swensen / Stringer via Getty Images
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    PNC picks BlackRock vet as next president

    Mark Wiedman, most recently the head of BlackRock’s global client business, was named the super-regional’s next president, filling the vacancy left when Michael Lyons departed to lead Fiserv earlier this year.

  • The front of a two-story brick bank building with the company name and logo.
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    "Webster Bank, Hamden, CT" by John Phelan is licensed under CC BY-SA 3.0
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    Webster Bank risk chief to retire

    Daniel Bley will leave his role after the Connecticut-based bank finds his replacement, the lender said last week.