Happen Bank completes rebrand; switches stock listing
The company, formerly known as LendingClub, moved from NYSE to Nasdaq as it officially launched its new name as a full-fledged digital bank.
OCC preemption moves could be headed for Supreme Court
Critics of the OCC’s broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
Deal would merge 2 banks in Michigan’s Upper Peninsula
Keweenaw Financial plans to acquire neighboring Range Financial in a transaction that would create an institution with nearly $1.7 billion of assets.
Truist sued for denying loan to DACA recipient
In 2024, a Honduras-born man who was buying a motorcycle was turned down for a loan. Two years later, Truist Financial is facing a discrimination lawsuit — and the plaintiff’s lawyer says many lenders are vulnerable to the same accusations.
Banks ace stress test, but no capital changes at stake
The nation’s largest banks saw their aggregate capital levels decline the least since the stress testing regime was reformed in 2020. Even so, the Fed will keep stress capital buffers unchanged as it weighs structural changes to its annual capital test.
Ameris Bancorp targets Nashville for its next market expansion
The Atlanta-based parent company of Ameris Bank plans to open a commercial banking office in Tennessee’s largest city by the end of the year, as part of its organic growth strategy.
Morgan Stanley’s Vince Lumia: AI may let advisors triple their client loads
The head of client segments in Morgan Stanley’s wealth division acknowledges AI could one day be the primary source of financial advice for mass affluent clients. Morgan Stanley advisors working with wealthier investors will have to up their games.
Trump’s top economic aide pick has unconventional bank ideas
The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is “highly problematic.”
How FNBO uses agentic AI to investigate financial crime
The Omaha bank says AI agents halve the time required to research fraud, sanctions violations and money-laundering alerts.
Worldpay’s World Cup outage puts payments resiliency in the spotlight
The shutdown came in the middle of a match, knocking out processing at small businesses, a segment expected to see transactions spike during such an event.