Revolut’s breach began with a stolen government password
Roughly 680 customers were affected, none in the U.S. But the control that failed at Revolut is the legal intake queue every American bank runs.
Bowman calls for supervisory reform after preliminary SVB report
The Federal Reserve’s top regulator has the early returns from the report she commissioned on the 2023 bank failure and said it supports her call for new reporting practices among Fed supervisors.
Online lending platform files de novo bank charter request
The “near-prime” lending fintech Avant is seeking to become a full-service bank by filing for a national de novo bank charter with federal regulators.
How Shopify and Meta are diving deeper into banking
The commerce company has made major inroads into embedded finance, a strategy that could get a boost from partnering with the social media giant’s new AI agent.
Credit unions bulk up a business that banks long dominated
Citadel Credit Union recently closed a $50 million loan on a Philadelphia office tower. It’s part of a trend, as credit unions build their commercial real estate lending businesses.
State Street shuffles leadership, Florida’s Portrait Bank
State Street promotes Ann Fogarty to chief operating officer and names Mostapha Tahiri president of State Street Alpha; Florida’s Portrait Bank expects to open for business on Saturday; Texas Capital Bancshares is on the lookout for a new chief risk officer following the departure of David Oman; and more in this week’s banking news roundup.
Banks are falling behind on payment speed, cost
Exclusive Research: Banks are moving too slowly to meet demand for cheaper, faster payments
Fed’s Bowman previews new twists in stress test reforms
Federal Reserve Vice Chair for Supervision Michelle Bowman Friday highlighted a pair of new provisions to the final stress test framework that arose from public commentary submitted to the agency last year.
Press Release: FDIC Releases Results of Summary of Deposits Annual Survey
PRESS RELEASE | SEPTEMBER 18, 2026 FDIC Releases Results of Summary of Deposits Annual Survey WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2026. The FDIC’s Summary of Deposits (SOD) provides branch-level deposit information for more than 75,000 […]
Deep talks first, trust vehicles later: 5 questions that reveal client goals
In a series of webinars and journal articles, two lawyers and a financial planner are leading a collaborative discussion about how estate planning professionals can better serve African American clients and, in turn, all customers.