Georgia bank makes deal to expand into South Carolina
Colony Bankcorp has reached a $163 million deal to acquire Florence, South Carolina-based First Reliance Bancshares.
FDIC proposes slim resolution plans, lower insurance fees
The Federal Deposit Insurance Corp. issued proposals Thursday that would reduce planning requirements for big banks and slash deposit insurance prices, citing the financial health of the Deposit Insurance Fund.
FDIC Board of Directors Meeting
BOARD MEETING | JUNE 25, 2026 FDIC Board of Directors Meeting Today, the Federal Deposit Insurance Corporation’s Board of Directors met in open session to consider the following matters. Materials and information relative to the open Board actions are available on the Board Matters webpage. Items Addressed in Open Session: Notice of Proposed Rulemaking: Resolution […]
Are fears of AI taking jobs overblown?
CEOs of payments companies and fintechs such as Block and Bolt have pointed to AI as a driving force behind layoffs at their organizations. But Tania Babina, an associate professor of finance at the University of Maryland’s Smith School of Business, says there is no systematic evidence that AI is taking jobs.
How agentic commerce fuels Visa’s ‘services’ push
The card network’s recent partnerships attempt to build demand for new forms of artificial intelligence while feeding “value added” revenue — a non-payment fee metric that investors watch closely.
CEA nominee pressed on inflation, tariffs during Senate hearing
Christopher Phelan, President Donald Trump’s nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.
Ramp CEO invites co-founder Karim Atiyeh to share top job
The $44 billion fintech also appointed a new CTO and head of engineering as it foregrounds artificial intelligence in strategic decision-making.
Bowman: Changes coming soon to Fed supervision and regulation
Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.
JPMorgan shuffles executive management; Lake to retire
The largest U.S. bank by assets named two co-presidents as part of its latest executive management changes. Marianne Lake, who was widely viewed as a contender to succeed CEO Jamie Dimon, will retire from the company.
Key inflation metric flashes red at 4.1%
The Bureau of Economic Analysis’ personal consumption expenditures inflation report for May showed that inflation had risen 4.1%, meeting elevated expectations and casting further doubt on the prospects of near-term interest rate cuts from the Federal Reserve.