Credit unions blast new Washington state tax on bank deals
To address a budget deficit, the state of Washington has begun taxing credit unions that buy banks. Critics say there’s just one problem: The tax will deter any such acquisitions from happening.
10 kinds of bank CFOs who will never get the CEO job
Being a good CFO does not always translate into being a good CEO. Ken Thomas identifies ten different kinds of CFOs who just aren’t chief executive officer material.
Why small banks, credit unions are buying onboarding tech
Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.
COVID loan program leaves some borrowers in a bind
Some distressed companies that tapped the Federal Reserve’s Main Street Lending Program say they’ve been crushed by the agency’s hardline stance on modifications.
Betterment data breach exposes 1.4 million customers
Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment’s own systems.
Banks gain amid software stock rout, despite credit questions
Artificial intelligence developments are stoking investor fears about software companies. Banks’ limited exposure to the sector and general stability is proving attractive to investors.
Prosperity completes 2nd of 3 Texas M&A deals
Prosperity Bancshares finalizes the second of three acquisitions it’s announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week’s banking news roundup.
FDIC Extends Comment Period on Proposal to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins
PRESS RELEASE | FEBRUARY 6, 2026 FDIC Extends Comment Period on Proposal to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced a 90-day extension to the comment period on the agency’s notice of proposed rulemaking (NPR) that would implement the […]
Fed ‘skinny accounts’ take early heat from crypto, fintechs
Fintech and crypto groups said in comment letters to the Federal Reserve that the proposed “skinny” master account is too limited and could keep firms dependent on banks. Banking groups asked for more time to comment.
Fed’s Jefferson wary of inflationary pressure from AI
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.