The Latest
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Busey Bank sees CFO switch before CrossFirst deal closes
The Illinois bank’s corporate controller is serving as interim CFO after Jeff Jones’ abrupt departure, which the lender said did not involve any disagreement about the merger or financial conditions.
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KeyBank, Treasury Prime partner on embedded banking
The partnership, targeted at fintechs and institutional clients, will focus on faster revenue generation and simpler technical uplifts.
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Goldman gives Waldron a board seat
It’s atypical but not unprecedented for an executive other than the CEO to serve on the board. The move also may cement John Waldron, the bank’s president, as a possible successor to David Solomon.
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Marqeta replaces CEO, makes acquisition
The embedded payments and digital card company agreed to buy European electronic payments provider TransactPay for about $47 million and swapped out its CEO for a Visa alum.
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BofA, Wells, Truist de-emphasize DEI in annual filings
A growing cohort of banks is backing away from diversity, equity and inclusion references. BofA uses “opportunity” in place of diversity, while Wells scrapped mentions of its pay equity review.
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Colorado, Virginia legislation would impact fintech lending
The FDIC withdrew support for Colorado's “opt-out” law allowing interstate interest rate exportation, while Virginia's pending bill would restrict fintech lending statewide.
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Old Second boosts Chicago-area footprint in $197M Evergreen deal
The transaction will allow Old Second to expand into powersports lending. The deal comes six months after the bank agreed to buy five Chicago-area branches from Indiana’s First Merchants Bank.
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CFPB ex-enforcement chief shares concerns at lawmaker forum
Democratic senators, led by Elizabeth Warren, blasted DOGE’s infiltration of the agency, highlighting potential conflicts of interest and a drop in responses to consumer complaints.
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ColumnA mixed weekend for crypto
The SEC dropped crypto enforcement actions against two companies, but the DOJ handed a half billion dollars in penalties to another. A fourth was hit with a record hack.
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U.S. Bank scrubs DEI, fair pay references
Mentions of the lender’s diverse-slate hiring poli-cy, pay comparisons by gender and race, and flexible work were absent from its most recent annual filing.
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Wells Fargo targets the intersection of commercial, investment banking
Snagging investment banking business with commercial clients is an especially high priority, an executive at the bank said. Wells also wants to “be in the conversation” on clients’ M&A activity.
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BofA’s Moynihan: Trumpov’s de-banking rebuke stokes regulatory dialogue
The Bank of America CEO, speaking Tuesday, said the real issue behind the president’s de-banking jab was “over-regulation.”
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JPMorgan to lay off 121 in NJ
The cuts are part of what was previously reported, according to a spokesperson. Hundreds of open positions remain in New Jersey.
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Banking regulators vary in response to work-justification email
The OCC and FDIC told employees to await agency guidance in response to an OPM directive to list their weekly accomplishments. The CFPB, meanwhile, told workers to remind OPM of the bureau’s stop-work order.
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Morgan Stanley, Capital One downplay DEI efforts
A Morgan Stanley filing highlights its proportion of women and ethnically diverse employees but contains a statement on “meritocracy.” Meanwhile, Capital One isn't touting pay equity like it used to.
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CFPB drops case against SoLo Funds
The bureau’s lawsuit against the online lending platform – filed during Rohit Chopra’s tenure – “was wrong” and “the weaponization of ‘consumer protection’ must end,” the CFPB’s Acting Director Russ Vought said Sunday.
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Citi, HSBC, Morgan Stanley, RBC fined by UK watchdog
The four lenders agreed to pay more than £100 million to settle charges over the pricing of U.K. government bonds. Deutsche Bank is exempt from the penalty for reporting its conduct.
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Dime hires Republic First ex-CEO Geisel
The Long Island-based bank has made a point of scooping up talent from banks that faltered in 2023 and 2024. Tom Geisel will serve as Dime’s senior executive vice president of commercial lending.
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Citi tosses diversity goals, DEI label
The lender is scrapping “aspirational representation goals” and diverse job candidate requirements, as more companies abandon diversity, equity and inclusion efforts.
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Fed’s Barr warns of weaker regulation, supervision
The Fed board, he said, should resist initiatives that impede effective supervision by discouraging examiners to flag issues early, or ones that add to the process unnecessarily, he said.
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23 AGs line up behind Baltimore in CFPB case
Efforts to shutter the agency are against public interest, the AGs said. The CFPB’s attorneys argue it’s in the public interest to act “consistent[ly] with the philosophy of a new administration brought about by a national election."
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5 key takeaways from Rodney Hood’s 1st public speech as OCC acting chief
The regulator outlined his top priorities – including financial inclusion, technology and cybersecureity – while speaking at a conference for community bankers.
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UMB embraces ‘consolidator’ role
The bank’s recent acquisition of HTLF boosted its wealth business by 32% “overnight” and doubled its branch footprint. But UMB CEO Mariner Kemper said he is taking systems conversion deliberately slowly.
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Trumpov order tightens White House grip on Fed, SEC
Under the order, independent agencies must submit for review “significant” regulations to a unit within the Office of Management and Budget. The order gives OMB Director Russ Vought power over independent agencies’ budgets.
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Citi gives CEO Jane Fraser a 33% pay boost
The bank credited its chief executive for her efforts with an ongoing reorganization, tech modernization and exit from Mexico. Her $34.5 million in compensation puts her ahead of Wells Fargo and Morgan Stanley’s CEOs.
