BMO announces new head of U.S. commercial bank
BMO names Tony Sciarrino head of its U.S. commercial bank; Renasant receives regulatory approvals to complete its pending acquisition of The First Bancshares; Arkansas classifies earned wage access as a financial product; and more in this week’s banking news roundup.
JPMorgan renames DEI program ‘DOI’ following political backlash
The largest U.S. bank will now call the initiative Diversity, Opportunity & Inclusion, or DOI, Chief Operating Officer Jenn Piepzak said in a memo to staff Friday.
Bank core satisfaction up, but still low: ABA research
A recent American Bankers Association survey showed improvement since 2022, but overall scores are still lower than in 2020 and gaps widened between providers.
EarnIn aims to fill gap left by banks, launches Early Pay
The direct-to-consumer earned wage access provider is allowing consumers access to their paycheck two days before payday. It’s hoping it will draw in more customers.
CFPB rehires most fired employees as court battle continues
The Consumer Financial Protection Bureau has rehired more than 100 fire employees, but the union claims dozens of employees have not been reinstated in violation of a federal court order.
Trump promised an American boom. He now says it may take a while
Presidents have long rushed to take credit for booms and distanced themselves from busts. But Trump’s situation is unusual. The risks to the U.S. economy — potentially including stagflation or even recession — are closely linked to his own flagship initiative: a new tariff bonanza due in just over two weeks.
OCC drops reputational risk from exams amid debanking debate
The OCC will no longer assess reputational risk in bank exams, aligning with President Trump’s push to curb debanking, which critics say drove politically motivated account closures.
Q&A: What BitGo CEO Mike Belshe wants from crypto regulation
In an interview with American Banker, Belshe, who leads the world’s largest independent cryptocurrency custodian, talked about regulatory changes under the new administration and his hopes for a digital asset market structure.
Two Miss. banks to merge as buyers eye southern part of state
BankFirst Capital Corp. is seeking to bolster its presence in southern Mississippi with a deal to acquire Magnolia State.
Crypto’s clout in Washington is soaring
The cryptocurrency industry is on a roll in Washington and it’s not just because of President Donald Trump.