Fifth bank fails in 2026 as drip of small-bank closures continues
Tioga-Franklin Savings Bank’s failure is expected to cost the Deposit Insurance Fund $5.5 million. It is the fifth bank to fail this year, the most since 2023.
OCC approves Brazilian banking giant in U.S.
The Office of the Comptroller of the Currency has granted Sau Paulo-based Itaú Bank — the largest bank in Latin America — permission to set up shop in Miami.
Texas Capital makes big play on state’s new stock exchange
The bank’s decision to transfer two of its exchange-traded funds to the Texas Stock Exchange is an effort to better align the funds with their investment thesis, the bank said.
How the debit fee battle pushes banks to other processing options
The U.S. Court of Appeals for the 8th Circuit is set to decide whether a lower court’s decision that found the Federal Reserve mispriced debit interchange limits in the Durbin Act stands. Analysts say the battle will pressure banks toward faster payment options.
Press Release: Second Federal Savings and Loan Association of Philadelphia Assumes All Deposits of Tioga-Franklin Savings Bank, Philadelphia
PRESS RELEASE | AUGUST 21, 2026 Second Federal Savings and Loan Association of Philadelphia Assumes All Deposits of Tioga-Franklin Savings Bank, Philadelphia WASHINGTON—Tioga-Franklin Savings Bank in Philadelphia was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into an agreement with […]
BMO Financial names Brent Reston chief digital officer
Brent Reston will serve as BMO Financial Group’s inaugural chief digital officer; LCNB Corp. appoints Susan Zaunbrecher to its board; HSBC and Standard Chartered complete a bank-to-bank tokenized deposit transaction on Swift’s blockchain-based ledger; and more in this week’s banking news roundup
Fifth Third bets on demand for more complex embedded payments
The bank has invested in Payload, a company that has grown quickly selling new processing technology to real estate companies, with plans to expand into other industries with multiparty transactions.
How correspondent banking works, adapts to digital assets
Correspondent banking has been around since the fourteenth century, when Italian merchant-banking houses used a network of partner banks and agents to settle trade debts without physically shipping coins, and has since become vital infrastructure to facilitate global payments. Today, digital assets are challenging some of the economics that have supported correspondent banking.
Luminate Bank acquires First State Mortgage, 26 originators
This was the second acquisition Luminate’s mortgage arm has made since the start of 2025. The bank bought NJ Lenders Corp. in April of last year.
D.C. area bank cuts ties with its branches for a digital future
Forbright Bank in Chevy Chase, Maryland, which has gathered more than $4 billion in online deposits over the past two years, plans to sell its branch network and focus entirely on digital banking.