Citizens taps Barclays vet as next CFO

Aunoy Banerjee will become Citizens’ CFO in October, replacing John Woods, who’s leaving the Providence, Rhode Island-based regional lender to become CFO at State Street.

Blueacorn co-founder pleads guilty to conspiracy to commit wire fraud

Nathan Reis, the fintech’s co-founder, is scheduled to be sentenced Nov. 21 and faces up to 20 years in prison.

Banks accelerate AI deployments as agentic tools gain traction

More than half of the new use cases launched by the financial firms this year leveraged generative AI capabilities, according to Evident Insights research.

Ohio’s First Financial expands Chicago footprint in $142M deal

The acquisition of BankFinancial, set to close in the fourth quarter, comes roughly a month and a half after First Financial proposed a $325 million purchase of a fellow Ohio lender. 

Warren, Democrats ask Fed, FDIC, OCC to justify eSLR cuts

The lawmakers want more data and an extended comment deadline on a proposed reduction to big banks’ capital holdings – echoing Republican calls on the Fed’s ill-fated 2023 Basel III proposal.

Republican senators take aim at MRA process

Eleven GOP senators are urging banking agency heads to make changes to the process around matters requiring attention, which they argue lacks “structure, uniformity and legal basis.”

CFPB moves to hold Synapse accountable for missing customer funds

The CFPB alleged the now-bankrupt Synapse failed to maintain adequate records of consumers’ funds and match them with its partner banks, leading to an unrecovered loss of $60 million to $90 million.

Warren urges Fed to activate countercyclical capital buffer

The Fed has never activated the framework, which would force banks to add a capital cushion. Sen. Elizabeth Warren thinks it’s time to do so – and is asking why the central bank has not voted on the measure in five years.

Berkshire, Brookline dub their post-merger brand Beacon

The name draws a strong association with Boston, a key market for both banks. The companies expect the $1.1 billion deal to close by September, with systems integration early next year.

Trump takes aim at debanking

An executive order the president issued Thursday demands that regulators remove reputational risk from evaluations and to review complaint data for instances of religion-based debanking.

Trump taps economic adviser Stephen Miran for Fed post

Miran, an architect of Trump’s tariff policy, would be a temporary fix. He’d serve the remainder of outgoing Fed Gov. Adriana Kugler’s term, buying time for Trump to finalize his pick for central bank chair.

Wells Fargo won’t face class-action mortgage discrimination lawsuit

A federal judge denied class action certification in a mortgage redlining lawsuit against the lender, saying the plaintiffs “did not identify any ties that bind for purposes of commonality.”

Ripple to buy Canadian stablecoin platform Rail for $200M

The acquisition comes amid expected wider acceptance of stablecoins in the U.S. Ripple has rebounded this year, with a separate $1.25 billion deal. The SEC also dropped its case against the company.

Paxos to pay $48.5M over AML, due-diligence failures

Some of the charges stem from the stablecoin issuer’s relationship with Binance. The agreement includes a $22 million investment in Paxos’ compliance program and a $26.5 million payment to New York’s Department of Financial Services.

UBS quits climate alliance amid global exodus

The Swiss lender said its “ambition to being a leader in sustainability is unchanged” and that it will continue to “progress [its] sustainability and impact strategy.”

Wells Fargo taps Google Cloud for agentic AI push

The tools will give employees real-time market insights, help navigate extensive documentation and improve customer service.

TD names first US small-business head

Chris Ward joined TD last year after seven years at Bank of America. Now he takes on a new role, for him and TD, as its head of U.S. small business.

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.

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.

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.

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.

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.

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.

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.

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.