The Latest

Provident Bank announces its new chief lending officer; the SEC's acting chairman asks a federal court to delay scheduling cases involving a rule on climate-related disclosure; the merger deadline for Capital One Financial's proposed acquisition of Discover Financial Services is extended; and more in this week's banking news roundup.

The probes come at the request of Sens. Elizabeth Warren, D-Mass., and Ron Wyden, D-Ore., respectively the ranking members of the Senate Banking and Senate Finance committees.

Consumer and employees groups are seeking a restraining order against CFPB acting Director Russell Vought, arguing that he was unlawfully installed and has "no power to direct" the bureau.

The rollout of new technologies in point-of-sale retail payments in the U.S. has historically been slow, and consumer adoption of those new payment flows can be even slower. Can consumers' propensity for self checkout help push adoption?

The San Francisco-based bank announced that another consent order with the Office of the Comptroller of the Currency has been terminated. The six-year-old order was related to the bank's risk compliance management and certain loan practices.

A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable housing.

The biggest decline was a 9.9% drop in deposits quarter-on-quarter as of Dec. 31.

The Trump administration's nominee to lead the Consumer Financial Protection Bureau, Jonathan McKernan, is seen as an institutionalist with a deep knowledge of policy. But whether he keeps the bureau shuttered or rebuilds it is uncertain.

On Thursday night, the Trump administration fired dozens of employees at the Consumer Financial Protection Bureau, according to an email obtained by American Banker. Most of the workers targeted had been hired by former CFPB Director Rohit Chopra.

CEO Cameron Bready told analysts that the company's changes in management structure, product reorganization and strategic retrenchments will show up in earnings later in 2025.