Los Angeles burns as banks step up to fuel aid efforts
Bankers are putting pre-established action plans for disaster recovery into motion as wildfires in Los Angeles sweep across the region.
New York, California gear up to scrutinize bank cybersecurity
Amendments to New York’s cyber rules — and a focus on privacy in California — mean banks must enhance risk controls, encryption and customer protections.
Fed approves merger deal involving Missouri’s biggest bank
The Federal Reserve Board on Friday approved UMB Financial’s pending $2 billion acquisition of Heartland Financial.
Top payment execs on how to manage tech buzz
Honorees from American Banker’s Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
First Interstate takes bigger-than-expected hit on loan
The action rids the Montana bank of a $62.8 million loan that’s long been on its watchlist. It comes as First Interstate’s new CEO looks to put his own stamp on the bank.
CFPB issues new fintech sandbox and no-action letter policy
The Consumer Financial Protection Bureau issued two separate policy statements on so-called “sandbox approvals,” and “no action” letters for fintechs — measures whose longevity is questionable with the incoming Trump administration.
Texas Capital Bancshares promotes Aimee Williams-Ramey
Texas Capital Bancshares promotes Aimee Williams-Ramey to chief human resources officer; M&T Bank hires Wells Fargo veteran Krista Phillips for newly created post of chief customer officer; Paul Connolly and Paul Speiss age out of their positions on Eastern Bankshares’ board; and more in this week’s banking news roundup.
FDIC’s Hill aims to cut regulation, halt climate efforts
In a speech outlining his priorities for the FDIC, Vice Chair Travis Hill stressed the need for a more flexible regulatory approach, addressing capital requirements, digital assets, climate policy, and bank oversight, while emphasizing transparency and timely action.
Pennsylvania community banks to merge in $214 million deal
Clearfield-based CNB Financial’s planned acquisition of ESSA Bancorp in Stroudsburg would create an $8 billion-asset company with 49 branches and nearly $5 billion of deposits in the Keystone State.
CFPB seeks input on protections for digital payments, crypto
The Consumer Financial Protection Bureau issued an interpretive rule and a separate request for information aimed at Big Tech companies, digital payments and crypto assets.