UBS seeks to prevent reopening of Nazi-accounts settlement
The Swiss banking giant will come under the spotlight Tuesday at a Senate hearing.where the question of whether a 1999 settlement over Holocaust-looted funds should be reopened is expected to be discussed.
Varo raises $124 million despite widening net losses
The digital bank added two new board members and raised $123.9 million as it continues to manage regulatory costs amid its push for profitability.
Where BVNK, Polygon Labs think stablecoin payments will happen
While stablecoins aren’t widely used for merchant payments, blockchain tech firms such as BVNK and Polygon Labs are seeking opportunities to add speed to slow-moving international transfers.
Illinois bank taps a partner to help launch trust business
In keeping with its policy of outsourcing functions outside its core commercial and retail banking competency, Signature Bank near Chicago teamed with a larger trust company to fill a longstanding gap in its product set.
Banks’ battle against stablecoin yield is already a lost cause
Instead of fighting to keep the banking industry unchanged, perhaps it’s time for banks to accept that change is inevitable and focus on adapting to remain competitive.
Atomic settlement swaps one risk for another, and banks aren’t ready
As tokenization increasingly brings instant settlement to transactions, the liquidity buffer that batch settlement has provided for decades is going to shrink and then disappear. Banks will need to rethink liquidity management.
Simmons Bank hires new leaders to boost organic growth
The Arkansas-based company pivoted to organic growth a few years ago, after making 14 bank acquisitions in less than a decade.
Fifth Third closes Comerica acquisition in under four months
The combination of the banks is the latest in a trend of deals closing on speedier timelines, and signals the industry’s hunt for scale.
UBS faces high-stakes Senate hearing over Nazi accounts
When the Swiss banking giant bought rival Credit Suisse in 2023, it inherited an investigation over money the Nazis looted from European Jews. The issue now seems to be coming to a head in Washington.
Chicago bank becomes first failure of 2026
The Chicago-based, $261 million-asset Metropolitan Capital Bank & Trust was placed in receivership and its assets sold to Detroit-based First Independence Bank, costing the Federal Deposit Insurance Corp.’s Deposit Insurance Fund an estimated $19.7 million.