Yotta says Evolve Bank ran a Ponzi scheme, in new complaint
Yotta is pursuing its lawsuit against Evolve, saying the bank misappropriated tens of millions of dollars of customer funds, ran a Ponzi scheme and lied to cover up its malfeasance.
BMO hires former BofA exec to oversee U.S. businesses
The Toronto-based bank said that Aron Levine will become group head and president of BMO U.S. It also announced the upcoming retirement of Ernie Johannson, head of North American personal and business banking.
Mortgage rates move lower for first time in four weeks
Even with the four basis-point drop, the 30-year fixed rate mortgage remained at levels last seen in February as the Spring homebuying season reaches its climax.
Circle’s share price triples in first hour of trading
The stablecoin issuer’s initial public offering is widely seen as a bellwether for the cryptocurrency industry at large. Circle’s stock traded as high as $95.98 midday Thursday, nearly triple its $31-a-share pricing.
Why Wise’s American ambitions include a stock listing
The payments company hopes to build its brand outside of its U.K. home base while attracting a deeper investor pool.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | JUNE 5, 2025 FDIC Issues List of Banks Examined for CRA Compliance WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in March 2025. […]
The US government is now a bitcoin whale. That has consequences
The creation of a Strategic Bitcoin Reserve creates a tempting target for bad actors, and raises the stakes for everyone in the areas of anti-money laundering, cybersecurity, market-volatility and sanctions-screening.
Friend or foe? Banks face dilemmas amid private credit boom
Banks that are financing the rise of nonbank competitors have been losing market share in commercial lending. But by getting in on the action, the same banks are also seeing some payoff.
Bowman confirmed as top regulator at Fed
The Senate voted to confirm Federal Reserve Gov. Michelle Bowman’s nomination to be the vice chair for supervision at the central bank in a 48-46 party-line vote.
Wells shed its asset cap — but it isn’t clear why
The first-of-its-kind growth restriction established a new precedent for how regulators can address a broken bank culture. With scant information about why the cap was lifted, the action provides little clarity on what Wells did right — or what the Fed did wrong.