State AGs sound alarm over Enova, OppFi buying banks
A coalition of 20 state attorneys general, most of them Democrats, is opposing efforts by the high-cost lenders Enova International and Opportunity Finance to acquire banks. The state AGs warn that the companies are trying to dodge state interest-rate caps.
How good was 2025 for brokerages? They made $115B in pretax profits
FINRA’s annual snapshot shows how the wealth industry is changing, from key business metrics and marketing trends to shifts in registration and a shrinking branch footprint.
Citizens to exit in-store branches, build standalones nearby
The regional bank revealed plans Thursday to close most of its supermarket-based branches and replace about half of them with new, nearby standalone branches. The multiyear transition could attract $20 billion to $30 billion in low-cost deposits, executives said.
Bessent doubles down on ‘antifa’ crackdown, with stakes for banks
The Treasury’s leader said the administration is not letting up on its efforts against alleged political violence, a campaign likely to raise the stakes of banks’ relationships with politically sensitive nonprofits.
Regulators tighten handling of sensitive exam data
The bank regulators say they will limit the sending and storage of highly sensitive supervisory information, including by using alternatives such as on-site reviews and requiring notifying banks of data compromises within 72 hours.
State Street touts selection by Treasury, $1B cost-cut plan
State Street executives said Thursday that one of its investment funds was selected as the default investment option for “Trump accounts.”
What Barclays gets from its Frontier Airlines extension
The U.K.-based bank renewed its longest tenured co-brand program, which has been running for more than 20 years, for another decade. The renewal will help the bank expand its consumer banking portfolio.
Fed officials mishandled sensitive information: Watchdog report
The central bank failed to prevent critical economic information from falling into the hands of “foreign adversaries,” according to a report from its inspector general.
NY regulators fine Swedbank $50M in Panama Papers probe
One of Sweden’s biggest banks agreed to the penalty to resolve a multi-year investigation into its compliance failures. The New York State Department of Financial Services said Swedbank intentionally withheld information it was required to turn over.
JPMorgan lashes out again in court against departed bank-based advisor
JPMorgan has a habit of taking its former private client advisors to court and accusing them of trying to steal clients they met through bank referrals. An industry recruiter says such suits aren’t necessarily a sign of recruiting deals gone bad.