It’s time for some good news about banking
It’s easy these days to get caught up in all the bad news and very easy to lose sight of the good. So let’s take a moment to focus on some good news.
What banks can expect if Democrats sweep Congress
Polling suggests that Democrats could retake control of the House and have a formidable shot at the Senate as well. If they win both chambers, oversight of bank regulation, crypto and Trump administration officials will be the name of the game.
Citizens sues SoFi as fights over talent, pipelines persist
The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
Maine bank hopes branch makeovers will attract deposits
Mirroring the efforts of a number of larger institutions, Portland-based Northeast Bank plans to open a de novo branch in Bangor and renovate its seven existing branches.
Nubank launches in the U.S. through a sponsor bank
The Brazilian digital bank is bringing its services to U.S. consumers through a partnership with Lead Bank as it awaits its own final charter approval.
AI fuels some RIA hiring plans, dampens others: Cerulli
Research from Cerulli Associates suggests that many RIAs have a long way to go with AI adoption while already finding possible ramifications for back-office staff.
New York tells banks to find their single points of failure
Regulators want firms to spot where several critical functions ride on one provider, a question the department’s earlier vendor guidance did not ask.
When vibe coding goes wrong: The risks advisors can’t ignore
As advisors rush to build their own AI tools, experts warn that guardrails need to cover data going in, not just data going out.
BVNK and Marqeta dangle a payments lure for stablecoins
The digital asset and card-issuing firms are supplying the guts to enable transactions for cards and digital wallets, betting that Mastercard’s ties to both firms will be attractive to banks, consumers and merchants.
First Citizens deepens presence in Midwest, Great Plains
North Carolina-based First Citizens BancShares completes its acquisition of 138 branches across 11 states; City National Bank appoints Chad Lloyd senior vice president and head of RBC U.S. Mortgage; London-based payments processor Checkout.com launches its U.S. subsidiary in Georgia; and more in this week’s banking news roundup.