The Latest

  • The JP Morgan Chase & Co. company logo is displayed on a screen at the New York Stock Exchange during morning trading on February 23, 2024 in New York City.
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    JPMorgan Chase leads banking sector in AI adoption: report

    In a tightening race, Capital One gained ground by adding engineering talent, according to Evident research published Thursday.

  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    Permission granted by Office of the Comptroller of the Currency
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    OCC bans ex-Citi, JPMorgan bankers over fraud, data sale allegations

    In one instance, a banker convicted of prior fraud took her sister’s identity to regain employment at Citi, the OCC said.

  • Federal Deposit Insurance Corp. Chairman Martin Gruenberg sits at a table.
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    Kevin Dietsch / Staff via Getty Images
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    FDIC’s bank failure fund may be repaid ahead of schedule

    The reserve ratio for the Deposit Insurance Fund will reach the statutory minimum level in 2026, ahead of a 2028 deadline, the agency’s staff projected, though that estimate is “subject to uncertainty.”

  • Truist CEO Bill Rogers speaks into a microphone
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    Drew Angerer / Staff via Getty Images
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    Truist CEO: No ‘merger hangover’ with expenses

    As the bank approaches five years since the completion of the SunTrust-BB&T merger, Truist CEO Bill Rogers sought to assure analysts Thursday that it’s on offense rather than defense.

  • adrienne harris talking to senate
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    Anna Moneymaker via Getty Images
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    Banks must be wary of AI security risks, regulator says

    NYDFS Superintendent Adrienne Harris says financial services firms have to keep their cybersecurity measures up to snuff, lest they fall victim to cyber threats.

  • A New York Community Bank branch location is shown
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    Spencer Platt / Staff via Getty Images
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    NYCB rebrands as Flagstar Financial

    The board has approved an amendment to change New York Community Bank’s name to Flagstar Financial, effective Oct. 25.

  • A sign that reads "Discover" marks the entrance to the card company's headquarters in Illinois.
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    Scott Olson / Staff via Getty Images
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    Discover discloses SEC accounting criticism

    The agency disagrees with the way the company is allocating card misclassification charges, Discover said in its third-quarter earnings report.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC greenlights FAA vet to lead ‘professional conduct’ office

    The move comes nearly a year after dozens of employees alleged the agency tolerated rampant sexual misconduct and retaliation in a Wall Street Journal exposé.

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    Courtesy of State Street
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    State Street CFO to leave for S&P Global

    S&P will pay Eric Aboaf a $2.4 million signing bonus when he joins the credit ratings firm in February. He’s also in line for a one-time $5.9 million equity award.

  • Cryptocurrency coins next to a smartphone displaying a chart
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    Jack Taylor via Getty Images
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    Crypto firm Copper hires ex-Goldman exec as new CEO

    Amar Kuchinad will replace the founder and current CEO, Dmitry Tokarev, in a push to drive the crypto custodian’s global growth strategy with a focus on fortifying its U.S. presence.

  • An exterior shot of the Department of Justice building shows the words "Department of Justice" and an American flag flying above.
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    Kevin Dietsch / Staff via Getty Images
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    Fairway to pay $9.9M in redlining settlement

    The lender allegedly discouraged residents of Black-majority neighborhoods from applying for mortgages. Fairway said the complaint “appears to be intentionally inflammatory in nature.”

  • M&A due diligence lawyers legal
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    ArLawKa AungTun via Getty Images
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    ABN Amro stake sale stirs ghost of UniCredit-Commerzbank

    The Netherlands will offload roughly 10.5% of the bank “in the coming days.” European governments have sold more shares in bailed-out banks in 2024 than in any other since 2008. Observers await whether the top bidder will be another bank.

  • person standing outside of sofi technologies headquarters
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    Justin Sullivan via Getty Images
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    SoFi, Best Egg get boosts from private credit

    Fortress Investment Group extended $2 billion to SoFi and led a $500 million purchase facility to Best Egg to help grow their loan platforms.

  • Citi CEO Jane Fraser speaks into a microphone as people sit behind Fraser.
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    Win McNamee / Staff via Getty Images
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    Citi ‘can walk and chew gum at the same time’: Fraser

    CEO Jane Fraser cited the bank’s ability to cut expenses while addressing the data, risk and control flaws regulators have flagged.

  • Goldman Sachs CEO David Solomon appears onstage.
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    Paul Morigi via Getty Images
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    Goldman profits soar 45% year over year

    CEO David Solomon touted an “improving operating environment” and reported gains in wealth management and investment banking fees. But its Platform Solutions business saw a 42% quarterly drop.

  • Michelle Bowman speaks at an April 2024 event
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    (2024). [Photo]. Retrieved from Federal Reserve.
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    Credit unions, fintechs should face same regulations as banks: Fed’s Bowman

    “[Community banks] are also subject to a broader range of restrictions imposed by regulatory requirements…the disparity in the legal framework can have a distortive effect on competition,” Bowman said.

  • Vice President Harris Holds Campaign Event In Kalamazoo, Michigan
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    Chris duMond via Getty Images
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    Harris tries to court Black men voters with forgivable loans, crypto

    Vice President Kamala Harris’ plans are part of her Opportunity Economy pledge, “an economy where people don't just get by, but get ahead,” and come as polls show she could stand to gain more support from Black men voters.

  • An aerial shot of Green Bay, Wisconsin at night shows buildings near the riverfront.
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    Creative via Getty Images
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    Associated Bank takes ‘needs-based’ approach to growth

    The Wisconsin lender’s sales team has retrained to have “more holistic conversations” with clients and use “advice and guidance” as its bedrock, an executive said.

  • A skyline shot of Toronto, Ontario, with a bright blue sky in the background.
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    R.M. Nunes via Getty Images
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    Ousted RBC CFO joins Canadian investment firm

    Nadine Ahn, whom RBC dismissed in April, is expected to transition into the CFO role next year as Canaccord Genuity’s current CFO, Don MacFayden, focuses on the company’s capital markets business.

  • A Chevrolet Volt extended-range electric vehicle
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    Bill Pugliano via Getty Images
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    Barclays replaces Goldman Sachs as GM card issuer

    The London-based bank will issue two credit cards for the automaker in the U.S., beginning next summer.

  • American bank building is pictured with an American flag flag on cold morning.
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    sshepard via Getty Images
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    Data overload thwarts digital transformation in banking

    Despite eagerness to scale AI capabilities, the financial sector remains mired in technical debt.

  • The Justice Department building on a foggy morning in Washington, DC.
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    Samuel Corum/Getty Images via Getty Images
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    Philly-area credit union to pay $6.5M in DOJ redlining settlement

    Citadel Federal Credit Union failed to provide mortgage lending services to residents of predominantly nonwhite neighborhoods between 2017 and 2021, the agency said.

  • JPMorgan CEO Jamie Dimon, seated near a floral arrangement, speaks during an event hosted by The Atlantic.
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    Tasos Katopodis / Stringer via Getty Images
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    Dimon won’t rule out government role

    The JPMorgan CEO largely dismissed the idea of serving in the next presidential administration, but he said, “I don’t make promises.” Wells Fargo’s CEO, meanwhile, said work on the bank’s AML issues is well underway.

  • grand rapids michigan skyline at dusk
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    Sean Pavone via Getty Images
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    Michigan bank ex-exec sues for alleged retaliation

    Todd Gray says bank higher-ups pushed him away when he showed concern about a new mortgage subsidiary. That subsidiary cost the bank millions of dollars before shutting down last year, he said.

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    Jaix Chaix
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    First Interstate hires 37-year Colorado banking vet as next CEO

    Jim Reuter retired this year as FirstBank’s CEO, saying he was “looking forward to pursuing other interests.” As it turns out, that includes leading another bank.