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The Senate voted to confirm Federal Reserve Gov. Michelle Bowman's nomination to be the vice chair for supervision at the central bank in a 48-46 party-line vote.
June 4
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The first-of-its-kind growth restriction established a new precedent for how regulators can address a broken bank culture. With scant information about why the cap was lifted, the action provides little clarity on what Wells did right — or what the Fed did wrong.
June 4
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The 5-year-old experiment of tying executive compensation to achieving diversity goals appears to be ending. The abrupt shift comes amid the Trump administration's crackdown on DEI.
June 4
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Freedom Bank is rolling out Freedom@Work, which offers perks for employees of participating companies, as part of a wider strategy to attract more consumer deposits.
June 4
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The card network behemoths and the London-based bank are looking to expand account-to-account payments through fresh partnerships and investments. Plus: President Trump withdraws Shift4 CEO's NASA nomination, and tokenized payments gain steam in Europe in this week's global payments roundup.
June 4
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House lawmakers discussed the recently introduced market structure bill, with Democrats expressing concerns that the bill could enable banks to evade securities laws.
June 4
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KeyBank and Pathward Bank are among the banks whose customers are asking them for digital asset services. But bankers remain cautious in this time of regulatory uncertainty.
June 4
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Two bankers detailed how artificial intelligence is transforming fraud detection and incident response for their institutions. The technology lets analysts ask datasets direct questions.
June 4
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Marianne Lake will oversee strategic growth and the company's fast-growing overseas consumer bank.
June 4
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The STATES 2.0 Act, currently pending in Congress, would go a long way toward giving banks confidence that they can provide services to legal cannabis businesses without putting themselves in legal jeopardy.
June 4
