The Latest

The top five banks and thrifts have more than $7 trillion in combined total deposits as of the end of Q1 2023.

Figure Technologies laid off 90 employees this week, or about 20% of its staff, while it's also interviewing bankers in advance of a planned initial public offering for its lending business next year, according to documents reviewed by Bloomberg.

Consumer advocates are protesting specific risk-weighting changes affecting borrowers with lower down payments. Also, a broader increase in requirements may discourage depository holdings of servicing.

Dime Community Bancshares tapped insider Stuart Lubow as its next chief executive; BayFirst Financial announced the appointment of Scott McKim as chief financial officer and more in the weekly banking news roundup.

The U.S. government wants to intervene in JPMorgan Chase's fraud lawsuit against Frank founder Charlie Javice, asking a federal judge to halt pretrial information exchanges until she has been tried on criminal charges. 

Oregon Community Credit Union in Eugene is seeing employee productivity and satisfaction increase, but is still wary of declaring the program a success.

The new rule sets a nationwide standard for disclosing all "material" breaches within four days — much sooner than many state-level disclosure rules.

Citing issues that arose during this spring's bank failures, the central bank and other agencies urge depositories to ensure they are ready to borrow at a moment's notice.

Elon Musk's vision of an everything app that includes banking capabilities may not be what Americans are looking for, said Max Levchin, who co-founded PayPal with the world's richest man.

Large financial institutions have "meaningful but manageable" loan volumes to industries that are most likely to see declines in output and profit after climate-friendly regulations take hold, new research shows.