Edward Jones gets green light to launch industrial bank
The financial advisory firm initially sought an industrial loan charter back in 2020. It’s the third company to receive the necessary approvals this year, joining General Motors and Ford.
What’s it going to take to get banks back into mortgages?
Though changes to bank capital rules previewed by Federal Reserve Vice Chair for Supervision Michelle Bowman in February being viewed as welcome, experts say other more significant hurdles — not all of them regulatory — are keeping banks on the sidelines of mortgage servicing and lending.
Morgan Stanley applies for crypto trust charter subsidiary
The proposed national trust charter company would be a wholly owned subsidiary of Morgan Stanley. The application was filed on Feb. 18.
Fulton’s latest acquisition nears finish line
Fulton Financial received the necessary approvals to acquire Blue Foundry Bancorp; Wells Fargo named Dennis Devine head of business banking; JPMorgan hired two Bank of America health care veterans while shuffling leadership; and more in this week’s banking news roundup.
LA bank is latest lender to be ensnared in alleged fraud saga
Preferred Bank moved a $115 million block of loans to nonaccrual status after the borrower, which is battling fraud charges leveled by other banks, began missing payments.
OCC finalizes rule allowing trust non-fiduciary custody
A final rule published by the Office of the Comptroller of the Currency Friday will formalize a 2021 interpretive guidance allowing national trust banks to perform non-fiduciary custody. The banking industry complained that the rule runs counter to the traditional scope of the charter.
Block’s AI-driven staff purge comes with a warning
The payments company will fire about 40% of its employees, with CEO Jack Dorsey attributing the move to the impact of artificial intelligence. While investors cheered the move, analysts also raised questions about the company’s functionality, and Dorsey said other companies will make similar moves.
Press Release: FDIC Approves the Deposit Insurance Application for Edward Jones Bank, Salt Lake City, Utah
PRESS RELEASE | FEBRUARY 27, 2026 FDIC Approves the Deposit Insurance Application for Edward Jones Bank, Salt Lake City, Utah WASHINGTON – The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today announced the approval of a deposit insurance application submitted by the Jones Financial Companies, L.L.L.P. to establish Edward Jones Bank, which […]
Press Release: FDIC Issues CRA Examination Schedules for Second Quarter 2026 and Third Quarter 2026
PRESS RELEASE | FEBRUARY 27, 2026 FDIC Issues CRA Examination Schedules for Second Quarter 2026 and Third Quarter 2026 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the second quarter 2026 and third quarter 2026. CRA regulations require each federal […]
Trump’s $200B MBS plan set off by GSE valuation gap: Pulte
MBS buying has become the near-term focus but a 2026 offering is still possible, Federal Housing Finance Agency official Bill Pulte told Fox Business.