First Interstate adjusts chief banking officer role, again
Chris Shelper is now the sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA’s board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more in this week’s banking news roundup.
Why U.S. Bank is venturing into BNPL
The Minneapolis-based bank launched the Split Card, a Mastercard that turns purchases into three-month installment plans, in an effort to attract younger customers.
Digital-first VALT bank seeks denovo charter in Idaho
Former U.S. Bank veteran files for a de novo charter to launch VALT Bank, a tech-heavy business lender targeting ‘digitally demanding’ small businesses.
Stablecoins are going to reduce CRA funding to underserved communities
If the loophole in the GENIUS Act isn’t closed, the flow of money into stablecoins will wind up reducing the Community Reinvestment Act funding that many underserved communities rely on for development.
Fed’s Miran: ‘No point in getting to neutral slowly’
Federal Reserve Gov. Stephen Miran reiterated his view that monetary policy has become more restrictive than economists think, but expressed increased urgency that the central bank take strong corrective action.
Citi shuffles leaders, revamps retail biz as CFO plans exit
The megabank laid out a series of changes, including the impending departure of its CFO and other executive changes related to a revamp of its U.S. personal banking line of business.
CFPB transfers enforcement to DOJ, furloughs some staff
The Consumer Financial Protection Bureau plans to transfer its entire enforcement and legal divisions to the Department of Justice and will furlough almost all staff in those units, according to sources briefed by agency leadership.
How to apply for the Best Places to Work in Fintech 2026
American Banker and Best Companies Group are preparing the latest annual ranking of fintech companies that keep their employees happy.
Truist insider and postal worker sentenced in fraud ring
Investigators found text messages, photos of cash and a conspirator wearing a diamond Truist logo ring while unraveling the $1 million fraud attempt.
Banks plead for federal guidance as penny shortage spreads
Supplies of the one-cent coin are plummeting. Businesses can’t give exact change. Banks are struggling to resupply them. And amid it all, the federal government has said almost nothing.