20 largest US bank M&A deals of the past year
The five largest bank M&A deals had an average deal value of more than $1.2 billion.
Ex-Biden Treasury official details playbook for next administration
Graham Steele, formerly the assistant secretary for financial institutions at the Treasury Department, laid out a detailed bank regulatory reform agenda for future progressive policymakers to consider that includes rolling bank Trump administration-era tailoring rules and accounting for the increased digitization of the banking system.
UMB Financial starts checking items off to-do list for Heartland deal
The Kansas City, Missouri-based regional bank said it is making progress on its pending purchase of Heartland Financial USA in Denver. The deal is expected to close during the first quarter of 2025.
Fed’s Powell: ‘Nothing new going on’ with CBDC
The Federal Reserve chair said Fed researchers continue to explore central bank digital currencies to stay current on international payments developments, but emphatically denied that the central bank is considering creating one of its own.
Senate Republicans ask FDIC to withdraw bank boards proposal
The proposal is “significantly flawed” in its approach to corporate governance, the lawmakers said.
Revolut gets more tools to compete with banks; Westpac brings debit to kids
The London challenger bank has added deposits in an effort to keep customers from using banks and other fintechs; the Australian bank Westpac is offering cards to kids as young as eight. That and more in our global payments and fintech roundup.
FDIC proposes overhaul of Change in Bank Control Act notice process
In addition to a new rule enabling more active review of large asset managers acquiring shares in FDIC-supervised banks, the FDIC board finalized living will guidance and requested public input on deposits.
LendingClub’s new consumer loan offerings help drive earnings uptick
The banking holding company’s new type of private security, launched last year, also reached $3 billion in loans sold last month.
Wells Fargo explains origination tech in lawsuit defense
The lender denied its software uses artificial intelligence in fighting a ‘digital redlining’ case.
CrowdStrike outage, the fight against fraud: Top banking news July 2024
In this month’s roundup of top banking news, how the widespread CrowdStrike outage affected banks of all sizes, JPMorgan Chase’s new tech bet for combatting rising fraud, what Project 2025 could mean for bankers and more.