The local bank branch is not quite dead
JPMorganChase, Bank of America, and PNC are all investing money into new branches; actual, physical branches. Not many, but they are doing it.
Global regulators weigh cybersecurity reality of Mythos
Anthropic’s new AI model can autonomously exploit software flaws, prompting urgent security meetings among U.S. and U.K. financial regulators.
The more things change: Bank CEOs on why they’re adding branches
Big-bank executives explained this week why they’re still investing in their physical footprints, even as AI advances rapidly and financial technology firms wade deeper into the banking business.
OMB’s Vought: CDFIs funded ‘woke’ programs
Office of Management and Budget Director Russell Vought told the House Budget Committee Wednesday that the Community Development Financial Institutions Fund is still a target for elimination by the administration because it promotes “woke” ideology.
‘AI is our friend’: Bank CEOs play down risks from Mythos
The topic of AI implementation came up on several big banks’ first-quarter earnings calls. Morgan Stanley CEO Ted Pick said Wednesday that the firm views AI as a friend.
HSBC plots Hong Kong stablecoin, Brazil’s PIX expands with PayPal
Brazil’s real-time payment rail is adding PayPal as an option for small- to medium-size business payments; HSBC is launching a Hong Kong dollar-denominated stablecoin; Sezzle expands BNPL; and more in this week’s global payment roundup.
Better credit quality lets M&T lean into buybacks
A sharp decline in charge-offs, as well as lower volumes of criticized and nonaccrual loans, gave the Buffalo-based regional bank the confidence to operate with a smaller capital cushion.
Palo Alto Networks founder seeks to acquire Calif. bank
Nir Zuk, who founded cybersecurity firm Palo Alto Networks and retired from the firm last year, has applied to acquire voting shares in Liberty Bank, N.A.
Visa extends its on-chain ambitions
The card network expanded work with blockchain firms OwlTing and Tempo, increasing its reach into agentic commerce and stablecoins.
Trump threatens to fire Fed Chair Powell if he doesn’t resign
President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if he does not resign after his term as head of the central bank ends in May. Trump made a similar threat against Fed Gov. Lisa Cook before attempting to fire her last August.