Apollo’s Rowan: Javice described ‘enthusiastic’ Dimon chat
Apollo Global Management’s billionaire co-founder Marc Rowan described conversations he and Charlie Javice had during her discussions with the bank, including about a one-on-one meeting she had with JPMorgan Chief Executive Officer Jamie Dimon.
FDIC grappling with attrition, unresolved workplace issues
The issues are hindering the Federal Deposit Insurance Corp.’s ability to meet its regulatory duties, according to the agency’s Office of Inspector General.
Data breach at Western Alliance Bank affects 22,000 people
The breach occurred through a vulnerability in third-party file transfer software, and it took weeks for the bank to discover it.
One issue looms as Capital One’s megadeal hits home stretch
Following a media report that Department of Justice staffers have expressed concern about how Capital One’s purchase of Discover would affect competition in the subprime credit market, analysts said the portfolio would be tough to sell. But they remain optimistic that the deal will get over the finish line.
Banks navigate workers’ use of ChatGPT, set AI policies
Employees are using generative AI more than their bosses think they are, research suggests. Some say part of the answer lies in AI-use policies.
Bank investors anticipate catalysts after Fed holds steady
Federal Reserve policymakers said that the U.S. economy remains on sound footing, despite recent setbacks, and that two interest rate cuts lie ahead. Bank stocks advanced on hopes for loan growth and more M&A.
Crapo, Warner double down on CDFI support
The bipartisan co-chairs of the Community Financial Development Institution caucus sent a letter urging the Trump administration to continue supporting the CDFI Fund after it was slated for cuts in a recent executive order.
SmartBiz deal shows regulatory openness to fintech-bank M&A
The small business lender bought a Chicago community bank in what some experts say will be the first of many such deals.
Apollo’s Rowan to be first defense witness at Javice trial
Marc Rowan’s membership on Frank’s board was cited by the defense at the beginning of trial as showing Charlie Javice’s company was a legitimate and credible business.
Stablecoins won’t displace credit cards for consumer payments
Credit cards offer consumers three things stablecoins currently cannot: interest-free short-term loans, rewards programs and transaction reversibility. Your Visa card is going to remain in your wallet for a long time.