Comerica, amid pressure to sell, makes case for independence
CEO Curtis Farmer tried to assure skeptics Tuesday that the Dallas-based bank is focused on shareholder value and profitability, even as an activist investor group prepares to launch a board fight.
House Committee GOP blocks Epstein subpoena to Treasury
Republicans on the House Financial Services Committee voted to table a motion by Rep. Joyce Beatty, D-Ohio., to compel the Treasury Department to provide unredacted financial records related to the late child sex trafficker Jeffrey Epstein, effectively quashing the subpoena.
Early Warning lands new distribution deals for Zelle, Paze
Zelle secured a deal with Alacriti to help Alacriti’s bank clients adopt person-to-person payments; Paze teamed up with Canadian payment processor Nuvei to expand merchant use of the wallet.
The proposed $20 million deposit insurance cap is too high
Congress can and should enact meaningful deposit insurance reform, but the current proposal before lawmakers is misguided. The deposit cap is excessive and the funding mechanism creates systemic risk.
Huntington targets early fourth-quarter close for Texas deal
The Columbus, Ohio-based regional bank announced plans to acquire Dallas-based Veritex Financial in July. On Monday, a Huntington executive called the deal a “springboard” for additional organic growth.
OCC warns banks against violating financial privacy
The Office of the Comptroller of the Currency is telling financial institutions that they must safeguard customer data even when federal agencies request information in criminal investigations, addressing Republican concerns about debanking that arose after the Jan. 6 Capitol attack.
OCC: ‘debanking’ will factor into CRA, license applications
The Office of the Comptroller of the Currency said in a bulletin to banks that it will consider whether firms engaged in “politicized or unlawful debanking” when considering bank’s licensing applications and Community Reinvestment Act reviews.
Jack Henry brings stock rewards to its digital banking offerings
Bank clients of Jack Henry’s digital platform provider Banno can offer stock rewards programs directly to their customers via a partnership with Bits of Stock.
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.