Klarna stock slide extends into Friday following Q4 earnings
Shares of the neobank plummeted nearly 30% Thursday despite posting revenue over $1 billion as investors balked at up-front loan provision expenses that come with the expansion of Klarna’s longer-term installment loans.
Banc of California names new head of payments
Banc of California appoints Chris Healy its new executive director and head of payments; Lia Fordjour is named chief financial officer of the American Bankers Association; Airwallex is the latest fintech to lean on sports sponsorships; and more in this week’s banking news roundup.
JPMorgan says Trump’s $5B suit ‘fraudulently’ includes Dimon
The relevant Florida statute does not permit President Donald Trump’s allegation that JPMorganChase CEO Jamie Dimon directed the bank to put Trump and his businesses on a “blacklist,” the bank said in a legal filing.
Supreme Court Strikes down Trump’s ‘Liberation Day’ tariffs
The Supreme Court Friday issued a 6-3 ruling that held that that a law granting the White House economic emergency powers does not include the power to tax imports.
Trump’s global tariffs struck down by U.S. Supreme Court
In a blow to the President’s economic agenda, the high court said the trade barriers could not stand.
BofA’s struggles with AI adoption reflect a broader problem in banking
Banks are deploying extremely powerful AI systems but expecting generalist employees to operate them safely and consistently without redesigning workflows around the technology. That virtually guarantees a bad outcome.
M&T says Tricolor-related lawsuit could lead to losses
The Buffalo-based bank didn’t specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will “vigorously defend itself” against claims by investors who allege that it should have protected them from alleged fraud.
Stripe-owned Bridge acquires trust charter for stablecoins
The stablecoin arm of Stripe recently announced its conditional trust charter approval from the OCC and a partnership with business payments fintech Payoneer.
Medallion stresses home improvement to drive 2026 growth
The New York City-based lender, whose roots lie in taxi lending, believes an expanded home-improvement loan operation will generate mid-teen loan growth this year.
OpenClaw AI creates shadow IT risks for banks
Bank employees are likely adopting the OpenClaw AI assistant on the sly to boost productivity, but the tool’s deep integration exposes networks to cyber threats.