4 reasons banks are unlikely to make Synapse end users whole
Customers of fintechs affected by Synapse’s bankruptcy have been waiting since May for money they had in their accounts, and $65 million to $85 million still appears to be missing.
Independent Bank in Massachusetts to acquire peer for $562M
The cash-and-stock bid for Enterprise Bancorp is expected to close in the second half of 2025. In connection with the deal, Independent plans to raise about $250 million in subordinated debt.
Trump should be thanking Jerome Powell for his second term
The chairman of the Federal Reserve presided over the worst inflation in 40 years, generating public outrage that paved the way for Donald Trump’s victory in last month’s election.
Banks tackle Q3 hurdles, look to Q4 for earnings growth
The Federal Reserve’s interest-rate cut came too late in the third quarter for banks to capitalize on. Leaders say the fourth quarter will yield better growth.
Inside Tanya Otsuka’s historic NCUA role and regulatory vision
The first Asian American to join the National Credit Union Administration board, Otsuka has had a career highlighted by consumer advocacy, a focus on financial stability and support for underserved communities.
How bank deals are likely to fare with Trump’s antitrust pick
The industry hopes that the bigger hurdles to bank mergers under President Biden will fade in the new administration. But populist opposition to consolidation in the tech sector could spill over into banking.
CFPB places Google’s payments arm under federal supervision
The Consumer Financial Protection Bureau said that, although the Google Pay app has been discontinued, the bureau can make the determination based on past behavior, and that the tech giant could decide to reenter the person-to-person payment space.
CFPB lawsuit is just the latest regulatory headache for Comerica
The Dallas-based bank has a growing list of legal and regulatory issues — some of them connected to its role in a U.S. government benefits program, and others not.
Banks offer scam advice in time for the holidays
The holiday season presents online shopping and charity scam risks, and this year presents a novel threat of AI-assisted fraud. Here’s how banks are helping their customers avoid these schemes.
Unity Bank in Clinton, NJ, goes electric with EV charging stations
Unity Bank in Clinton, NJ, now offers EV charging stations in a collaboration with Encore Energy Group; fintech Beneficient announced its agreement to acquire Puerto Rico-based Mercantile Bank; Trump named payments exec Jared Isaacman to run NASA; and more in this week’s banking news roundup.