Blue Ridge, which erred with fintechs, exits consent order
The Virginia-based bank had been an example of what can go wrong when banks partner with fintechs. After being released from an OCC enforcement action, Blue Ridge is now focused on operating as a traditional community bank, said CEO Billy Beale.
Block beefs up Cash App to pry consumers from banks
The payments company is expanding the transfer app in an effort to entice more consumers to use the service as their primary banking relationship
Synapse bankruptcy dismissed, CFPB may start paying victims
Customers of fintechs like Yotta and Juno, who in some cases lost their life savings, may start to get reimbursed out of the agency’s Civil Penalty Fund, but no timeline has been announced for repaying them.
Georgia banks set December acquisition date
MetroCity Bankshares in Doraville, Georgia, plans to finalize its acquisition of First IC Corp; Rockefeller Capital Management’s Brian D. Riley will join BNY Wealth as global head; Blackstone appoints former Morgan Stanley rainmaker Franck Petitgas to a top role in Europe; and more in this week’s banking news roundup.
Philly-area credit union’s focus on business loans pays off
Expert quote: “Credit unions are no longer the small players people once assumed,” said Citadel Chief Commercial Banking Officer Thomas Sebok. Key insight: Ongoing consolidation in the financial services industry has created opportunities for community institutions willing to provide personal service to small-business owners, according to Sebok.Forward look: Citadel plans to open three new branches […]
ICBA says stablecoin trust bank would violate scope of charter
ICBA argues Bridge’s stablecoin model pushes the trust charter beyond its intended fiduciary scope.
These banks rely on their cultures to navigate thorny issues
Pinnacle and Peapack-Gladstone have sought to preserve their corporate cultures during periods of major change.
Best Banks to Work For 2025: More than $10B of assets
Banks with more than $10 billion of assets made up 12% of American Banker’s 2025 Best Banks to Work For list.
US regulators must stop pushing innovative fintech firms overseas
Too often, small fintechs working to bring innovative technology online in the U.S. determine that they would be better off overseas. Regulators should copy existing “sandbox” models to keep them here.
Couples finance app Tandem bought by credit union group
Reseda Group, a CUSO owned by MSU Federal Credit Union, acquired the money management app for couples as part of its strategy for family finance offerings.