Banks want to merge. Here’s why it’s still not happening
Some banks hope to use M&A as a way to play defense, either because they need to shore up their deposits or because they have aging CEOs and are looking for an exit. But investors aren’t wild about the deal math.
OCC denies state supervisors’ request to restrict preemption
Acting Comptroller of the Currency Rodney Hood responded to a letter from the Conference of State Bank Supervisors regarding federal preemption of state banking laws by saying that the agency’s standards comply with law, court precedent and White House policy.
Ken Moelis plans to step down as CEO of his investment bank
The 66-year-old banker will take on the role of executive chairman at Moelis & Co. Co-President Navid Mahmoodzadegan will become CEO.
Trump rolls back some Biden cyber and fraud directives
A new executive order reverses digital ID initiatives, fraud alerts and federal data-sharing plans from which banks stood to benefit.
FDIC sends draft leverage ratio rule to OIRA for review
The Federal Deposit Insurance Corp. has sent a draft proposal to revise the supplemental leverage ratio to the Office of Information and Regulatory Affairs as a first step toward revising the leverage rule.
Scotiabank head-office staff to return to office 4 days/week
Bank of Nova Scotia’s plans will start in September, as the Canadian bank cites a push for more collaboration.
Banks should be cautious about celebrating big regulatory rollbacks
Trump’s bank regulatory team is advancing all types of wish-list reforms, some more radical than others. When, not if, the political winds change, banks should be ready for a sharp reversal, what could become a wave of “revenge regulations.”
Walmart returns to Synchrony Financial as credit card issuer
Synchrony issued the Walmart credit card for nearly two decades until 2018, when it lost the partnership to Capital One Financial. The latest deal does not include the balances tied to Walmart’s existing credit card program.
Bucking the trend: Why one credit union became a bank
After years of laying the groundwork, Thrivent Financial for Lutherans has converted its credit union into an all-digital bank. Here’s a look at the company’s strategy.
How BMO and Truist use AI to improve customer experience
Tech leaders explain how they’re trying to use artificial intelligence to better understand customers and communicate with them, without seeming robotic.