BMO unveils plan to invest in its U.S. branches, technology
Aron Levine, the Canadian bank’s new U.S. president, said BMO intends to invest in technology and spend more on branches. The company’s moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.
Cook firing takes the Fed into the unknown
Legal experts say President Trump’s unprecedented move to fire Cook over alleged past misconduct will likely be hashed out in court, but there is little precedent to determine whether a sitting board governor can be removed for past actions.
CFPB to further curb its ability to supervise nonbanks
A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau’s ability to designate nonbank entities for supervision.
Bank profits dip, FDIC fund restored in second quarter
The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.
The fallout from Visa’s U.S. open banking retreat
The card brand is reportedly focusing on other markets amid uncertainty in U.S. regulations and as banks consider fees for data sharing.
Press Release: FDIC-Insured Institutions Reported Return on Assets of 1.13 Percent and Net Income of $69.9 Billion in Second Quarter 2025
PRESS RELEASE | AUGUST 26, 2025 FDIC-Insured Institutions Reported Return on Assets of 1.13 Percent and Net Income of $69.9 Billion in Second Quarter 2025 Net Income Decreased from the Prior Quarter, Driven by an Increase in Provision Expenses Related to a Large Bank Acquisition Community Bank Net Income Increased from the Prior Quarter The […]
Banks should enlist AI to help customers recognize fraud in real time
Banks should take a page from the health sciences’ playbook and use artificial intelligence to “nudge” consumers away from transactions that have the characteristics of known fraud schemes.
Trump fires Fed Gov. Lisa Cook ‘effective immediately’
President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed’s independence.
Even opponents of Biden CRA want to preserve part of the rule
Bank industry advocates, housing groups and CRA veterans say the rule is overly complexity and burdensome, but even they agree pre-approving CRA-eligible activities was a good idea.
DraftKings bans use of credit cards in sports wagers
The online gambling operator, which was recently fined $450,000 by Massachusetts regulators, indicated that its new policy is designed to protect customers from cash-advance fees.