Circle, backers seek $896 million after boosting IPO size
The stablecoin issuer and some of its backers are now offering 32 million shares at a price range of $27 to $28 each, suggesting strong investor demand for the stock.
Net charge-off ratio at 15 largest US banks in Q1
The 15 largest banks had an average NCO ratio of 0.66% in the first quarter.
CFPB, bank lobby ask court to strike down open banking rule
The Consumer Financial Protection Bureau and Bank Policy Institute filed twin motions for summary judgement to strike down a 2024 agency rule for being arbitrary and capricious and exceeding statutory authority.
Dimon says retirement from JPMorgan is ‘several years away’
The question of when the CEO would retire and who might succeed him has hung over JPMorganChase for years.
A one-two punch of bad policy ideas threatens financial stability
A new stablecoin bill threatens to balloon federal borrowing and increase the deficit, while a change to bank capital rules would vest the Treasury with power that should rest with the Federal Reserve.
Wearable payment tech is growing. What banks need to know
Using watches, wristbands and other accessories at the point of sale is set for a boom, pressuring financial institutions to develop a strategy for the banking tech.
Press Release: FDIC Announces Retirement of Patrick Mitchell, Director of the Division of Insurance and Research
PRESS RELEASE | MAY 30, 2025 FDIC Announces Retirement of Patrick Mitchell, Director of the Division of Insurance and Research WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today announced the retirement of Patrick (Pat) Mitchell, Director of the Division of Insurance and Research (DIR). “Pat’s intellectual prowess, wide-ranging expertise, and deep understanding of economic, […]
Andrea Finan’s journey from sports to J.P. Morgan: The Climb
The bank’s head of self-directed investing reflects on how her career has progressed at Brown Brothers Harriman, Goldman Sachs and now J.P. Morgan.
Maryland joins other states in passing EWA legislation
Maryland passes legislation to oversee the earned wage access industry; Truist Financial adds ex-Morgan Stanley Finance Chief Jonathan Pruzan to its board; The Citizens Bank agrees to buy a First Capital Bank branch in North Carolina; and more in this week’s banking news roundup.
Wells Fargo to sell its railcar business for $4.4 billion
The transaction comes as the megabank is determined to simplify its operating model and shed units that have slower growth prospects or aren’t core to its business.