BNY surges past Wall Street’s expectations
The custody bank reported a strong fourth quarter, as it continued to push forward with its new operating model. The momentum contributed to the bank’s decision to lay out new financial targets, including a goal to achieve a return on tangible common equity of 28% in the next three to five years.
Press Release: Travis Hill Sworn in as the 23rd Chairman of the FDIC
PRESS RELEASE | JANUARY 13, 2026 Travis Hill Sworn in as the 23rd Chairman of the FDIC WASHINGTON – Travis Hill was sworn in as the 23rd Chairman of the Federal Deposit Insurance Corporation (FDIC). Chairman Hill has served as Acting Chairman of the FDIC Board since January 20, 2025, and previously as Vice Chairman […]
Inflation holds steady at 2.7% as December prices stay hot
The Bureau of Labor Statistics reported Tuesday morning that consumer prices rose 0.3% in December, with annual inflation stuck at 2.7%, lending credence to the Federal Reserve’s cautious stance toward interest rates heading into 2026.
The SEC has finally opened the door to tokenized securities custody
The Securities and Exchange Commission appears to have finally acknowledged that tokenized securities are still … securities. For broker-dealers seeking to offer tokenized securities custody, the path forward is now visible.
JPMorgan’s profit dips as it preps for Apple card portfolio
The largest bank in the country bulked up its reserves by $2.2 billion for potential credit hits from the Apple card portfolio, which JPMorgan announced last week that it would take over from Goldman Sachs.
Markets, lawmakers scramble amid DOJ inquiry into Fed
Financial markets took a tumble Monday morning after Federal Reserve Chair Jerome Powell announced that he was the subject of a Justice Department inquiry concerning the central bank’s headquarters renovation. Lawmakers and former Fed officials decried the move as political intimidation.
It used to be a fintech partner. Now the bank is buying it.
Coastal Financial in Washington State has acquired GreenFi, one of its fintech partners. The move is designed to buy time in order to figure out the best long-term strategy for the struggling neobank.
How Trump’s 10% credit cap would hit the payments industry
Analysts say credit card companies could face a major hit to earnings, while banks would also be under pressure.
SMBC shutters US digital unit Jenius Bank
Despite attracting $2 billion in deposits, the cloud-native unit proved too expensive to maintain, prompting a strategic retreat by parent company SMBC.
Wells Fargo workers at Connecticut branch reject union
The 6-2 vote represents a win for the megabank, which has been fighting a nationwide push to organize its workers. Some 28 branches have voted in favor of unionization, while three have rejected unionization.