Chicago bank becomes first failure of 2026
The Chicago-based, $261 million-asset Metropolitan Capital Bank & Trust was placed in receivership and its assets sold to Detroit-based First Independence Bank, costing the Federal Deposit Insurance Corp.’s Deposit Insurance Fund an estimated $19.7 million.
Press Release: First Independence Bank, Detroit, Michigan, Assumes All Deposits of Metropolitan Capital Bank & Trust, Chicago, Illinois
PRESS RELEASE | JANUARY 30, 2026 First Independence Bank, Detroit, Michigan, Assumes All Deposits of Metropolitan Capital Bank & Trust, Chicago, Illinois WASHINGTON — Metropolitan Capital Bank & Trust was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into […]
How a TD Bank teller laundered millions for $50 bribes
Court documents reveal how a teller used the drive-through window and work email to aid a scheme that bypassed TD’s fraud defenses.
U.S. Bancorp prepares for COO’s retirement
U.S. Bancorp shuffles management as COO Souheil Badran announces his retirement; Stock Yards Bancorp agrees to buy Field & Main Bancorp; Citi’s wealth business hires Mercer’s Olaolu Aganga for a newly created role; and more in this week’s banking news roundup.
What bankers need to know about Fed chair-designate Warsh
Former Fed Gov. Kevin Warsh is a relatively known quantity to financial markets, but his embrace of President Trump’s agenda and the White House’s own contentious relationship with the central bank make it hard to know with certainty where — or even whether — he will lead the Fed.
Flagstar is back in the black after eight quarters of losses
The Long Island-based bank returned to profitability during the fourth quarter of 2025. The results mark “a significant milestone” in the bank’s turnaround plan, CEO Joseph Otting said.
Digital assets front and center amid SoFi earnings ‘blowout’
The neobank was bullish on cryptocurrency and stablecoins, which could provide tailwinds as it looks to launch new products including crypto-based lending, institutional trading, and correspondent payments and settlements via stablecoins.
Amex CEO: 10% rate cap would create ‘downward spiral’
Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.
Press Release: FDIC Publishes Enforcement Orders for December 2025
PRESS RELEASE | JANUARY 30, 2026 FDIC Publishes Enforcement Orders for December 2025 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today published a list of orders of administrative enforcement actions taken against banks and individuals in December 2025. There are no administrative hearings scheduled for February 2026. Orders Terminating Consent Orders: Luana Savings Bank, […]
Loyalty coalitions are balance-sheet risks masquerading as marketing
While they may look like a tool for reinforcing customer’s connection to their banks, loyalty coalitions present serious risks if they are not constructed properly and monitored continuously.