Fintech Cushion shuts down, cites scaling challenges
The company’s software automatically monitored and negotiated bank fees on customers’ behalf, with recent expansions into buy now/pay later bill management.
Community banks make top executive changes in January
Small lenders across the country filled leadership positions, including The Peoples Savings Bank in Ohio, which promoted from within to name its first woman CEO.
Citizens’ longtime exec, Beth Johnson, to retire in March
The Providence, Rhode Island-based regional bank plans to create a new senior executive role that will focus on corporate strategy, rather than directly replace Johnson as chief experience officer.
Wells Fargo lifts CEO Scharf’s pay to $31.2M
The big payday comes after a year in which the bank made progress toward the removal of a federally imposed asset cap.
Federal workers question legality of OPM ‘buyout’ FAQ memo
The Trump administration’s Office of Personnel Management sent a memo of frequently asked questions encouraging civil servants to go on vacation and even take a second job, which in some instances is contrary to longstanding agency conflict-of-interest rules.
LA wildfires put climate, risk management in focus for banks
Catastrophic weather events illustrate the risks and opportunities for banks.
Fed’s Bowman warns against policies that lead to debanking
In a Friday speech, Federal Reserve Board member Michelle Bowman said regulation and supervision should be aimed at expanding banking access, not limiting it.
Joint Press Release: Agencies Announce Second Public Outreach Meeting as Part of Their Review of Regulations
JOINT PRESS RELEASE | JANUARY 31, 2025 Federal Deposit Insurance CorporationFederal Reserve BoardOffice of the Comptroller of the Currency Agencies Announce Second Public Outreach Meeting as Part of Their Review of Regulations Federal bank regulatory agencies will hold a virtual public outreach meeting on March 6, 2025, as part of their review of regulations, as […]
Press Release: FDIC Makes Public December 2024 Enforcement Actions; No Administrative Hearings Scheduled for February
PRESS RELEASE | JANUARY 31, 2025 FDIC Makes Public December Enforcement Actions; No Administrative Hearings Scheduled for February 2025 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in December 2024. There are no administrative hearings scheduled for February 2025. The FDIC […]
Bankers, when it comes to AI, don’t buy into the productivity illusion
AI isn’t inherently good or bad; its value depends entirely on how it’s used. For financial institutions, this means shifting the focus from internal productivity gains to customer outcomes.