Don’t scrap the CFPB. Turn it into the agency it was meant to be
Rather than deleting the Consumer Financial Protection Bureau, now is the time for the president and Congress to reform and reboot it into the agency that carries out its mission in an apolitical manner.
White House report tests Fed’s openness to crypto
The President’s Work Group on Digital Assets released a report calling for changes to the central bank’s master account policies. The reforms could make it easier for digital asset groups to access the federal payments system.
Yes, credit unions are buying more banks
The data shows a sharp uptick in credit union acquisitions of banks, drawing the ire of community bankers as they lobby for credit union taxes.
Fed’s Kugler to step down next week
The Federal Reserve governor’s term was set to expire in January and President Donald Trump has made it clear that she would not be reappointed. The vacancy will give Trump an opportunity to appoint someone new to the central bank’s board.
Secured cards find new niche in earned wage access
Direct-to-consumer earned wage access provider EarnIn is rolling out Live Pay, a service that “streams” consumers’ paychecks via a Visa card. It’s a model banks could replicate.
A growth-minded Missouri bank absorbs a local competitor
Deal for Clay County Savings Bank leaves Verimore Bank primed to add market share in a fast-growing Kansas City neighborhood
Northwest acquires Penns Woods, expands Pennsylvania footprint
Columbus-based Northwest Bancshares finalized its acquisition of Penns Woods Bancorp; Barclays becomes the second U.K.-based bank to leave the Zero Banking Alliance; BankUnited announces the appointment of Michael Mitchell as executive vice president, director of branch banking; and more in this week’s banking news roundup.
A Dallas bank is confident its losses will pay off
First Foundation is in transformation mode, after a capital infusion and new management gave it some power to remix its challenged balance sheet. But the bank just took its third quarterly loss out of the last four quarters.
How KeyBank is creating ‘cognitive banking’ with AI
The Cleveland bank is working with Personetics to provide advice and help to digital banking customers that takes into account their circumstances, current transactions and history.
We’re in a financial revolution. Latin America must meet the moment
The new age of AI-enabled agents and increasing connectivity will not reward financial institutions focused on the last wave of innovation. Latin American institutions must embrace new technology.