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The bank's new Seattle hub will focus on artificial intelligence, generative models, and cloud innovation, close to partners like AWS and Anthropic.

The Internal Revenue Service's Criminal Investigation unit has a new initiative for engaging with financial institutions to uncover tax and financial fraud.

In a surprise move, the Consumer Financial Protection Bureau said that it will not enforce or supervise lenders for the final payday lending rule. The bureau also plans to  narrow the scope of the rule.

The bank now offers personal loans up to $50,000 to State Farm customers, the latest step in its effort to broaden its customer base by teaming up with other companies.

The Federal Reserve governor said it is healthy to examine the regulatory architecture, but stressed the importance of the central bank having insight into the banking system.

BMO hired former CEO of Citi Private Bank Halé Behzadi to accelerate the bank's growth strategy in California; Pennsylvania's Linkbancorp received regulatory approval to sell its New Jersey operations to a credit union; Dream First Bank announced plans to gain branches throughout Oklahoma; and more in this week's banking news roundup.

A group of states are pursuing similar efforts to cap credit card interchange fees, endangering rewards programs that customers value and raising concerns about an illegal interstate compact.

Places to work at the 7 Times Square location "will be available on a daily first-come, first-serve basis," the Office of the Comptroller of the Currency told employees who supervise major U.S. banks.

The midyear fee hike was necessary to reverse a revenue shortfall in the agency's 7(a) program, according to Administrator Kelly Loeffler.

The Consumer Financial Protection Bureau said in a court filing that it plans to reverse its interpretive rule tightening standards for Pay in 4 buy now/pay later loans.