Small California bank lands investment from local farm giant
One of the leading makers of pre-packaged salads has acquired a 16.3% stake in Salinas, California-based Pacific Valley Bank. “It’s a real vote of confidence,” the bank’s CEO said.
JPMorganChase takes over Apple Card from Goldman Sachs
The deal ends more than a year of speculation of who would take over Apple’s coveted credit card portfolio.
Trump crypto venture World Liberty applies for bank charter
World Liberty Financial, a crypto venture co-founded by President Trump, applied for a national trust charter with the Office of the Comptroller of the Currency. The move comes as several prominent crypto companies have applied for and received conditional approval for trust charters since the beginning of the Trump administration.
Rep. Hill rolls out community bank deregulation package
House Financial Services Committee Chairman French Hill’s community-banking package includes reciprocal deposits, tailoring and many other items on community bankers’ wish lists.
Barclays backs US startup for stablecoin clearing
The bank is investing in Ubyx to help traditional financial institutions settle stablecoin payments and compete with nonbank fintechs.
Lloyds pushes tokenized deposits
The U.K. bank has completed a payment using the stablecoin alternative; while Revolut is trying to acquire Turkish neobank FUBS. Plus: execs tied to the Wirecard scandal are on their way to prison and more in the American Banker global payments and fintech roundup.
Bowman details regulatory relief agenda for community banks
Federal Reserve Vice Chair for Supervision Michelle Bowman outlined several priorities affecting community banks, including potential changes to asset thresholds for smaller institutions.
JPMorgan drops proxy advisory firms in favor of AI platform
The company’s asset and wealth management business is completely cutting ties with proxy advisors, opting to build its own research and public company voting system. JPMorgan is the first bank to stop using firms such as Glass Lewis and ISS.
Trump backs ban on institutional buyers in housing market
President Trump said he would prohibit large institutional investors from buying single-family homes. While the executive couldn’t bar such investments on its own, a legislative ban could gain bipartisan support.
Credit reporting prices draw more ire from FHFA’s Pulte
A housing official renewed his call for credit bureaus to address lenders’ concerns. Low pull-through magnifies a cost that’s small relative to others.