Wells Fargo union accuses the bank of ‘unlawful’ tactics
Representatives of the first nonbranch team at the bank to unionize alleged in a charge filed with the National Labor Relations Board that actions to stymie collective bargaining constitute unfair labor practices.
Former Citigroup exec Titi Cole joins the bank’s board
Titi Cole, a former executive at Citigroup, is now on the company’s board of directors; Citizens Financial Group has formed a trust subsidiary as part of its wealth management and private bank expansion efforts; shareholders of Atlantic Union Bankshares and Sandy Spring Bancorp approved the two companies’ planned merger; and more in this week’s banking […]
A quarter of banks expect M&A deals in 2025: Research
Banks are expecting increased M&A activity across the financial sector, but are concerned about acquisition by credit unions and tech integration challenges.
Huntington offers way for trusted caregivers to manage money
The Columbus, Ohio-based bank has unveiled a product that lets adults who need help managing their finances and guarding against fraud give limited account access to someone they trust.
Affirm’s 0% loans, cards, chart a path to profitability
The buy now/pay later lender outperformed nearly every analyst estimate in its fiscal Q2 2025 earnings report. CEO Max Levchin said the company is 5 months out from positive GAAP operating income.
CFPB agrees to temporarily halt medical debt rule
The Consumer Financial Protection Bureau, now led by Treasury Secretary Scott Bessent, agreed to temporarily halt enforcement and litigation over its medical debt rule Thursday, handing the banking industry an immediate reprieve.
Banks have an important opportunity to lead on AI safety
By repealing the Biden administration’s artificial intelligence safety guidelines, President Trump has created a chance for the banking industry to demonstrate that it can be a leader in protecting consumers.
No clear signal for Fed as unemployment rate drops to 4%
Employers added fewer workers than anticipated last month, but upward revisions to previous estimates drove down the jobless rate. The report gives no clear directive to the Federal Reserve, which put rate cuts on hold last month.
Treasury access by DOGE partly limited by judge for now
Payment records are off-limits to all Elon Musk-affiliated “special government employees” except for Tom Krause and Marko Elez, and they are restricted to read-only access.
States eye new earned wage access regulations
More state legislatures are exploring how to regulate earned wage access products, and interest rate caps are central to that discussion. New York state’s pending legislation is taking a novel approach.