Has DOGE lost its bite now that Musk is gone?
Elon Musk’s decision to step away from the Department of Government Efficiency has bankers in wait-and-see mode for what policy plays are next.
80% of banks have upped AI spending. Here’s what they’re buying
Large language models, bespoke hardware and embedded AI are attracting banks’ tech dollars, experts say.
Capital One CEO to get one-time award valued at $30 million
Richard Fairbank will receive the restricted stock units in recognition of his work related to the integration of Discover into Capital One, the company disclosed.
Markets may shrug off Trump’s trade tactics, but not banks
Some Wall Street investors are beginning to doubt whether the harshest outcomes of President Trump’s tariff threats will materialize. But in the absence of certainty, banks still face real challenges in M&A and long-term strategy.
Stablecoin bill undermines state banking authority, group says
The National Conference of State Legislatures asked that leading lawmakers strike a provision in the Senate stablecoin bill that they say would preempt state authority to bar state-chartered special purpose depository institutions from operating in their state.
Fed’s Kugler not ready to look past tariff inflation
The Federal Reserve Board governor said higher import tariffs could have a “persistent” impact on inflation.
What we learned at this year’s Digital Banking Conference
Speakers at American Banker’s Digital Banking Conference discussed financial technology trends including digital assets, cybersecurity and open banking.
Ohio bank dismisses its CEO, expands chairman’s duties
Main Street Financial’s ouster of James VanSickle came three months after its chairman characterized the company’s financial performance as being “on the upswing.”
Yotta says Evolve Bank ran a Ponzi scheme, in new complaint
Yotta is pursuing its lawsuit against Evolve, saying the bank misappropriated tens of millions of dollars of customer funds, ran a Ponzi scheme and lied to cover up its malfeasance.
BMO hires former BofA exec to oversee U.S. businesses
The Toronto-based bank said that Aron Levine will become group head and president of BMO U.S. It also announced the upcoming retirement of Ernie Johannson, head of North American personal and business banking.