Pulte ousts 100+ at Fannie Mae over ethics breach
Bill Pulte, making the announcement as chairman of Fannie Mae, did not provide additional details following earlier rumors of larger layoffs.
OCC falls victim to major cybersecurity breach
The Office of the Comptroller of the Currency disclosed a significant email system security breach that revealed sensitive data about federally regulated banks. The breach follows a similar incident at the Treasury Department earlier this year.
Former M&T executive Darren King moves to Fifth Third
King, who spent 24 years at M&T Bank and departed with little explanation, will lead Fifth Third’s operations in middle market commercial banking and wealth management.
Ripple to acquire prime broker Hidden Road for $1.25 billion
The agreement surpasses Stripe’s $1.1 billion deal to buy stablecoin payments platform Bridge in February.
Fed ends enforcement action against former bank employee
The Federal Reserve Board terminated a 22-year-old cease-and-desist order against a one-time vice president of The Marathon Bank in Winchester, Virginia.
BlackRock picks Anchorage Digital for added crypto custody
The largest asset manager globally announced Tuesday it will enter a new master custody service agreement with Anchorage Digital, the only U.S. federally chartered digital asset bank.
FDIC’s Travis Hill previews new resolution standards
The Federal Deposit Insurance Corp. aims to ease compliance for large banks, revisit crypto and stablecoin rules, and weigh inflation adjustments to regulatory thresholds
PNC taps new president, sees ‘opportunity to scale’
BlackRock veteran Mark Wiedman is taking the torch as president at PNC. The seeming successor to longtime CEO Bill Demchak will be tasked with helping the bank evolve.
Bank of America: More than 90% of its employees now use AI
The second-largest U.S. bank is pushing generative artificial intelligence out to most employees while continuing to offer its more traditional AI-based Erica virtual assistant to customers, says tech executive Hari Gopalkrishnan.
State-issued digital IDs are taking hold. Are banks ready?
As more states adopt digital identity, there is an opportunity for banks to improve authentication.