Credit unions announce deals for two community banks
Profitable community banks based in Georgia and New Mexico have announced deals to sell themselves to credit unions this week, drawing the ire of banking advocates.
Customers in Pennsylvania announces West Coast expansion
The West Reading-based bank has opened three offices in California and two in Nevada, continuing its strategy of establishing a presence in high-growth markets around the country, CEO Sam Sidhu said.
Cloudflare disruption hit SoFi, Varo, other banks
A “spike in unusual traffic” caused service degradation for the infrastructure giant, disrupting digital banking for customers.
Klarna lays out neobank aspirations
In the company’s first earnings report since going public, CEO Sebastian Siemiatkowski offered what analysts called a conservative Q4 outlook while laying out its growth plans that included an expanded distribution network, increasing its long-term installment loan penetration with merchants and becoming a full-fledged neobank.
Deposit insurance reform momentum slows in House
Witnesses and lawmakers at a House Financial Services Committee hearing gave a more downcast view of a Senate deposit insurance reform proposal, with many House committee members expressing cost concerns.
OCC allows banks to hold crypto to cover blockchain fees
The Office of the Comptroller of the Currency issued an interpretive letter Tuesday that would allow banks under its jurisdiction to hold small amounts of network tokens to test and process customer transactions.
Fed memo previews big changes to bank oversight
An October staff memo from the Federal Reserve’s Division of Supervision and Regulation outlines changes to how supervisory activities will be carried out, including a greater emphasis on relying on examinations conducted by state banking supervisors.
Treasury’s McKernan sees sea change in deposit behavior
Treasury Under Secretary for Domestic Finance Jonathan McKernan said he is concerned that the traditional bank funding model of taking in low-cost deposits and making more lucrative loans could be set for a shakeup as fintech challengers get more competitive.
Stablecoins renew the age-old battle over the purpose of money
The rise of stablecoins is once again raising questions about the purpose of money, should it be regulated as a public good facilitating commerce, or a private claim to a specific asset?
Comerica said no to Regions before Fifth Third deal: Sources
An activist investor is seeking more information on how, and when, the largest bank deal of 2025 came together.