Crypto and VC firms led to SVB’s failure, researchers say
New research on the failures of Silicon Valley Bank and other regional banks in 2023 points to cyclicality of venture capital and the volatility of crypto as bigger factors than uninsured deposits or unrealized losses.
Peter Thiel-backed Palantir plots AI tech for banks
A joint venture between the military-focused Palantir and investment conglomerate TWG will sell cybersecurity protection to financial institutions that are wary about the safety of artificial intelligence.
Utah’s pro earned wage access bill reaches the governor
Utah is the latest state to push a pro-industry EWA bill. If signed, it would mark the sixth state with legislation specific to the budding cash-flow product.
Green Dot’s CEO exits, company to explore strategic options
CEO George Gresham has left the struggling fintech, which will now explore potential strategic alternatives.
Trump Organization sues Capital One over canceled accounts
President Donald Trump’s company accused it of illegally “de-banking” him for political reasons by abruptly canceling hundreds of accounts for his real estate business after his first term ended in 2021.
High-growth U.K.-based OakNorth seeks U.S. charter
The 10-year-old lender, which reported a double-digit jump in profits, is benefiting from what its CEO called “animal spirits” at work on this side of the Atlantic.
Joint Press Release: Agencies Issue 2024 Shared National Credit Program Report
JOINT PRESS RELEASE | MARCH 10, 2025 Federal Deposit Insurance CorporationFederal Reserve BoardOffice of the Comptroller of the Currency Agencies Issue 2024 Shared National Credit Program Report Federal bank regulatory agencies today reported in the 2024 Shared National Credit (SNC) report that credit risk associated with large, syndicated bank loans remains moderate. However, the agencies […]
Keep the CFPB, but install some commonsense leadership at the top
President Trump and Elon Musk probably would not have put Rohit Chopra and his CFPB on their hit list had he run it with common sense, balancing the interests of both the financial industry and their consumers. An independent and consolidated federal consumer financial protection agency is needed, but only if a fair-minded leader runs […]
CFPB resignations, confusion ahead of court fight
Among the resignations are Mark McArdle, who was instrumental in creating the Qualified Mortgage rule, and Operations Chief of Supervision David Bleicken. It is unclear if the Consumer Financial Protection Bureau will hire anyone to succeed them.
Minority banks fear consequences of Trump’s DEI rollback
The Trump administration’s attack on diversity, equity and inclusion programs raises the question: Will big banks continue their support of minority depository institutions?