Block doubles down on teen focus with advisory council
The payments firm is taking another step to attract younger customers, a strategy that CEO Jack Dorsey has said will promote long-term network growth.
JPMorgan hires Berkshire’s Combs for investing, advisor role
JPMorganChase hired Berkshire Hathaway’s Todd Combs for a broad role that includes advising Chief Executive Officer Jamie Dimon
Home ends dry spell with $150M deal for Tennessee bank
The all-stock acquisition of Mountain Commerce Bancorp in Knoxville marks the Arkansas-based company’s first M&A foray since 2022.
Supreme Court doubtful on validity of independent agencies
In oral arguments held Monday morning, a majority of Supreme Court justices seemed poised to overrule a 90-year-old precedent validating multi-member independent commissions, but it remains uncertain what limits — if any — the court may impose on the president’s removal powers.
Former Fed officials: CFPB’s Vought must ask for funding
The Consumer Financial Protection Bureau’s Acting Director Russell Vought has an obligation to request funding for the agency, five former Federal Reserve officials said. Plus, three nonprofits sue Vought and the CFPB.
Housing falls out of must-pass defense spending package
The National Defense Authorization Act will be voted on by the House without the housing package that passed through the Senate Banking Committee unanimously.
Bankers going all-in on AI should take a lesson from the fate of the Concorde
The supersonic Concorde was one of aerospace technology’s greatest achievements. However, its ultimate commercial failure should be a lesson for those pushing AI into banking. Advanced technologies often develop faster than consumers’ ability to benefit from them.
Inside the brewing battle over regional Fed bank leadership
Federal Reserve watchers expect a board of governors vote in February to reappoint the 12 regional Fed bank presidents — which is typically treated as a formality — to be the next flashpoint in the White House’s effort to bring the central bank to heel.
Banks paid $370M in ransoms to cybercriminals in 2024
While overall payments declined, the financial sector remained the top payer to cybercriminals, surpassing both health care and manufacturing.
Connecting banks with nonprofits to make New York ‘greater’
Through a nonprofit called Greater NY, early-career analysts at banks can apply their financial skills at charities and other civic-minded organizations. The partnerships give free help to nonprofits, but provide surprising benefits to the banks as well.