Capital One closes Discover acquisition after 15-month journey
Almost 15 months after its announcement, Capital One Financial Corp.’s takeover of Discover Financial Services was officially completed on Sunday, creating the largest credit-card issuer by loan volume in the US.
Appeals court hears CFPB argument for 90% reduction in force
Firing 90% of the Consumer Financial Protection Bureau’s staff and stripping it down to “the statutory studs” is lawful, an attorney for the CFPB told an appeals court.
Texas credit union’s members OK merger with big CEO payout
The merger, which provides for $6.75 million in payments to three Space City Credit Union executives, had drawn criticism. But Space City members approved it by an 82% to 18% margin.
Jennifer Lassiter joins Standard Chartered as head of digital assets, Europe
Standard Chartered Bank hired a new head of digital assets, Europe and Americas; Provident Financial Holdings has a new chief financial officer; Bank of America is opening four branches in Boise, Idaho; and more in this week’s banking news roundup.
Coinbase breach highlights insider threat risks for financial sector
Bribed overseas contractors accessed internal systems, triggering a months-long breach with costs reaching up to $400 million.
Conservatives block tax bill, including bank-favored riders
In a dramatic move, conservative hardliners blocked President Donald Trump’s tax and spending bill, which would have included many measures favored by banks.
Global Payments pushes ‘command center’ to battle rivals
The payment company’s restructured Genius point of sale system is designed to cover all types of merchants to keep them away from other processors and fintechs.
Citi Token Services makes real-time borderless payments possible
Ease of use and client accessibility was key to client adoption and core to the bank’s design.
Trump says US to set tariff rates for other nations in weeks
The president said Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick “will be sending letters out essentially telling people” what “they’ll be paying to do business in the United States.”
Press Release: FDIC Announces Retirement of Arthur J. Murton, Deputy to the Chairman for Financial Stability and Director of Division of Complex Institutions Supervision and Resolution
PRESS RELEASE | MAY 16, 2025 FDIC Announces Retirement of Arthur J. Murton, Deputy to the Chairman for Financial Stability and Director of Division of Complex Institutions Supervision and Resolution WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced the retirement of Arthur J. (Art) Murton, Deputy to the Chairman for Financial Stability and […]