Fifth Third gives customers free access to wills

The move reflects the bank’s aims to bolster its benefits for customers and do more with its fintech partners to differentiate itself from competitors, a Fifth Third VP said.

Fed to reduce headcount by 10% by end of 2027

The lower headcount will come from a voluntary deferred resignation program, not layoffs, according to an internal memo.

CFTC will shrink to a two-person team as two commissioners leave

Commissioners Christy Goldsmith Romero and Summer Mersinger will exit at the end of the month. Brian Quintenz awaits confirmation to become the regulator’s chair. 

Democrats press biggest US banks on climate alliance exits

“Leaving doesn’t eliminate climate-related financial risk; instead, it diminishes your capacity to monitor and address that risk collaboratively,” lawmakers told JPMorgan and 11 other institutions.

Fintech association to defend open banking in court

The Financial Technology Association will seek to protect a Consumer Financial Protection Bureau open banking rule after receiving a federal judge’s permission to intervene.

Hack could cost Coinbase up to $400M: filing

The crypto exchange is offering a $20 million reward for information leading to the hackers’ arrest. Coinbase terminated customer support agents who leaked customer data.

Banks struggle to talk about fraud

Financial institutions battling an increase in fraud, particularly push-payment scams, have been stymied in sharing information that might help them better protect customers.

CFPB slashes most of Wise penalty

The U.S. unit of fintech Wise must pay the bureau $45,000 and roughly $450,000 in redress to affected customers – a far cry from the $2.5 million penalty issued in January.

Judge denies move to reduce Ripple’s penalty in SEC case

The parties failed to “address the heavy burden” involved in vacating an injunction, choosing to couch their agreement as a settlement to be approved rather than a request for relief, Judge Analisa Torres said Thursday.

NY AG sues Capital One over lost customer interest

The state essentially picked up the challenge the CFPB put down when it dismissed its own lawsuit alleging the bank cost users $2 billion by not informing them of a higher-yield savings account.

Wells Fargo eyes opportunity with baby-boomer wealth transfer

The bank, which has bolstered the connection between its commercial bank and wealth units, seeks to cultivate deeper relationships as aging business owners assess the future.

JPMorgan drops portions of its Viva lawsuit

The bank and Viva Wallet, which it partially owns, have been locked in legal battles since early 2024.

Fed drops enforcement action against Illinois bank

The central bank flagged deficiencies at Du Quoin State Bank in 2023 and directed the lender to improve capital, liquidity and interest rate risk management.

JPMorgan Chase taps payments tech head

The bank’s payments arm named Sri Shivananda to head up its technology operations this year. Now, he’s overseeing decisions on stablecoins, real-time transactions and other advances.

Comerica risk chief heads to USAA

Brian Goldman, who’s been Comerica’s chief risk officer for about a year and a half, will leave to take the same role at USAA, effective May 27.

Warren prods DOJ to sue to block Capital One-Discover deal

The senator urged the Justice Department’s new antitrust czar, who's expressed a general concern over the creation of too-big-to-fail firms, to “back [her] words with action.”

Chime files for IPO

Chime submitted its paperwork to go public Tuesday in a widely expected move, stressing that it “is a technology company, not a bank.”

Generative AI may shoulder up to 40% of workload, some bank execs predict

Six in 10 bank executives list generative AI as a top investment priority this year, according to a survey published in April by KPMG.

Robinhood to buy WonderFi for $179M

The deal pushes Robinhood deeper into the Canadian market after the fintech opened its Canadian headquarters in Toronto last year.

CFPB seeks to rescind registry of nonbank repeat offenders

The NBR rule is “not necessary as a tool to effectively monitor and reduce potential risks to consumers from bad actors,” according to Acting Director Russ Vought.

Lawmaker seeks probe into Ramp’s bid for $25M GSA contract

Rep. Gerry Connolly, D-VA, is looking into the GSA’s contractor selection process to work on the SmartPay program, alleging an agency employee called the fintech the “favorite” to win the contract.

Bank of America to open 150 locations through 2027

Forty are anticipated to open by year’s end. All in, the bank has invested more than $5 billion across its branch footprint since 2016.

BNP Paribas shareholders approve higher age limit for CEO

The French bank’s investors Tuesday backed moves to allow 63-year-old Jean-Laurent Bonnafé and 74-year-old Jean Lemierre to remain in the chief executive and board chair roles longer.

CFPB rescinds 67 pieces of guidance

The rescissions are not final and will allow the bureau to evaluate whether each of the items was statutorily prescribed, CFPB Acting Director Russ Vought said.

Trump signs resolution to nix CFPB overdraft rule

The move overturns the bureau’s effort to cap overdraft fees at $5. The American Bankers Association also dropped its lawsuit regarding the rule.