Trump’s JPM lawsuit unlikely to succeed, experts say
President Donald Trump’s recently filed lawsuit against megabank JPMorganChase and its CEO Jamie Dimon is not expected to succeed in court, legal experts say.
UK cyber tests show banks’ struggle with cybersecurity basics
The U.K. conducted simulated cybersecurity attacks on its banks’ live systems and found they lack basic patching and identity controls.
OCC won’t delay World Liberty Financial charter review
Comptroller of the Currency Jonathan Gould said in a letter to Sen. Elizabeth Warren, D-Mass., that the OCC “intends to act consistent with this duty rather than your demand.”
Trump pulls back from 401(k) use for down payments
Trump, during his return from Davos, signaled reluctance to allow 401(k) withdrawals for home down payments, but other tax-advantaged options remain on table.
Eastern swears off M&A amid activist investor’s pressure
The Boston bank, which has been targeted by an activist investor over its M&A strategy, isn’t pursuing deals, CEO Denis Sheahan said Friday. Instead, the company is focused on organic growth and share buybacks.
Goldman Sachs announces new roles for Minnis and Wheeler
Goldman Sachs makes leadership changes across its global credit business; JPMorganChase names Simon Dale global head of the credit portfolio group lending; Citi hires Anand Govind as a managing director on its technology investment banking team; and more in this week’s banking news roundup.
Ex-TD employee pleads guilty to helping move $26M to Colombia
TD Bank has said it’s completed “the majority” of the action items for its U.S. compliance remediation.
First Citizens eyes loan sales to repay FDIC after SVB deal
The Raleigh, North Carolina-based bank recently made its first payment on a $35 billion note held by the Federal Deposit Insurance Corp. The note was arranged as part of First Citizens’ purchase of the failed Silicon Valley Bank.
Community bank bill moves forward, but with some caveats
The House Financial Services Committee passed a community bank tailoring bill 33-21.
Affirm applies for a banking charter
The buy now, pay later lender is seeking to create Affirm Bank, a Nevada-chartered industrial loan company.