FinCEN warns of surge in financially motivated sextortion
Predators often target boys ages 14 to 17, demanding money or using deepfakes to extort them.
Marqeta names Mike Milotich permanent CEO
The appointment ends a seven-month search for a permanent CEO. Milotich was named interim CEO in February following the resignation of former CEO and director Simon Khalaf.
Hassett backs Fed independence
White House National Economic Council NEC Director Kevin Hassett endorsed insulating the Fed from political pressure but echoed Trump allies’ calls for reevaluating its mission.
PNC makes Colorado play with $4.1B deal for FirstBank
The Pittsburgh-based company’s plan to buy FirstBank marks its first bank deal since its purchase of BBVA USA in 2021, which rapidly propelled its presence in the South and Southeast.
25 questions Trump and the Senate should be asking of every potential Fed nominee
After 60 years as a Fed watcher with the last 30 as a Fed critic, some would say Fed basher, Ken Thomas has developed a Q&A screening tool that President Trump should use for vetting Federal Reserve governors and the Senate should use for confirming them.
‘Trusted contacts’ provide banks new fraud bulwark
How can lenders stop elder fraud when a scam is already underway? One approach, allowed by a growing number of state laws, is to contact someone the client trusts. It’s a tactic that can work quickly — or backfire.
Banks warn of risks as critical cyber law nears expiration
A critical U.S. cybersecurity law sunsets Sept. 30, and banks say losing it would weaken defenses against hackers.
CFPB’s deregulatory agenda aims to rewrite Biden-era rules
The Consumer Financial Protection Bureau has released a packed agenda centered on rewriting rules ranging from small business lending to open banking while rescinding several rules finalized under the Biden Administration last year.
JPMorgan’s latest step to create ‘Pan-European’ retail bank
The megabank will continue its international retail strategy by opening business in Germany next year, starting by offering savings accounts to consumers.
Kansas bank strikes 4th M&A deal in 2 years
Equity Bancshares is expanding into Nebraska with the proposed acquisition of Omaha-based Frontier Holdings; Valley National Bancorp taps Patrick Smith as its new president of consumer banking; Northern Trust in Chicago promoted Michael Hunstad to president of asset management; and more in this week’s banking news roundup.