Bank profits dip, FDIC fund restored in second quarter
The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.
The fallout from Visa’s U.S. open banking retreat
The card brand is reportedly focusing on other markets amid uncertainty in U.S. regulations and as banks consider fees for data sharing.
Press Release: FDIC-Insured Institutions Reported Return on Assets of 1.13 Percent and Net Income of $69.9 Billion in Second Quarter 2025
PRESS RELEASE | AUGUST 26, 2025 FDIC-Insured Institutions Reported Return on Assets of 1.13 Percent and Net Income of $69.9 Billion in Second Quarter 2025 Net Income Decreased from the Prior Quarter, Driven by an Increase in Provision Expenses Related to a Large Bank Acquisition Community Bank Net Income Increased from the Prior Quarter The […]
Banks should enlist AI to help customers recognize fraud in real time
Banks should take a page from the health sciences’ playbook and use artificial intelligence to “nudge” consumers away from transactions that have the characteristics of known fraud schemes.
Trump fires Fed Gov. Lisa Cook ‘effective immediately’
President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed’s independence.
Even opponents of Biden CRA want to preserve part of the rule
Bank industry advocates, housing groups and CRA veterans say the rule is overly complexity and burdensome, but even they agree pre-approving CRA-eligible activities was a good idea.
DraftKings bans use of credit cards in sports wagers
The online gambling operator, which was recently fined $450,000 by Massachusetts regulators, indicated that its new policy is designed to protect customers from cash-advance fees.
Chime secures new distribution channel with Workday partnership
The deal will allow Workday to offer Chime Workplace, the neobank’s suite of enterprise financial wellness solutions, to its clients. For Chime, the partnership provides a wider reach to new potential deposit accounts.
Australia’s CBA halts AI-driven layoffs amid union pressure
A banking union calls the reversal by Commonwealth Bank “a massive win,” but warns the fight to protect human jobs from AI replacement isn’t over.
As Trump, foes collide, occupancy fraud is spotlighted
Here’s what industry experts have to say about a risk that a housing regulator has spotlighted through referrals that have led to high-level allegations.