Banks should be cautious about celebrating big regulatory rollbacks
Trump’s bank regulatory team is advancing all types of wish-list reforms, some more radical than others. When, not if, the political winds change, banks should be ready for a sharp reversal, what could become a wave of “revenge regulations.”
Walmart returns to Synchrony Financial as credit card issuer
Synchrony issued the Walmart credit card for nearly two decades until 2018, when it lost the partnership to Capital One Financial. The latest deal does not include the balances tied to Walmart’s existing credit card program.
Bucking the trend: Why one credit union became a bank
After years of laying the groundwork, Thrivent Financial for Lutherans has converted its credit union into an all-digital bank. Here’s a look at the company’s strategy.
How BMO and Truist use AI to improve customer experience
Tech leaders explain how they’re trying to use artificial intelligence to better understand customers and communicate with them, without seeming robotic.
Another pair of Boston-area banks unveil plan to merge
NB Bancorp’s deal for Provident Bancorp is the fourth announced in the Bay State since December. It comes nearly three years after bad crypto mining loans led to massive losses at Provident.
Senate banking budget bill overhauls CFPB funding
The Banking Committee’s portion of the Senate budget bill would eliminate the Consumer Financial Protection Bureau’s ability to request funding from the Federal Reserve, a move that goes further than House Republicans’ version of the bill.
Democrat bill pushes back on beneficial ownership rollback
Congressional Democrats offered a bill Friday requiring the Treasury Department to apply the anti-money laundering requirements of the Corporate Transparency Act more fully and help educate small businesses on how to comply with reporting of beneficial ownership information.
Corum named Capital City Bank president; Enterprise merger
Bethany Corum succeeds Tom Barron as president of Capital City Bank; Independent Bank Corp. plans to finalize purchase of in-state rival, Enterprise Bancorp; Customers Bank taps Mark McCollom to take over as chief financial officer; and more in this week’s banking news roundup.
Bowman’s reform agenda targets ratings, supervision, capital
In her first speech since being confirmed as the Federal Reserve’s vice chair for supervision, Michelle Bowman outlined a set of ambitious pursuits that would overhaul bank regulation and examination.
Circle President Tarbert: Banks are ‘ideal’ partners
In an interview with American Banker following Circle’s IPO debut, President Heath Tarbert discussed the stablecoin issuer’s go-public timing, the importance of regulation and transparency and how the fintech sees itself working with banks.