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Donald Felix, who has previously worked at JPMorgan Chase and Citi, will become Carver's president and CEO on Nov. 1. He succeeds interim CEO Craig MacKay, who's been running the unprofitable bank for the past year.

The company, which counts JPMorgan Chase and TD Bank Group among its customers, has also appointed a new executive chairman.

The Federal Deposit Insurance Corp.'s proposed rule aims to improve record keeping for custodial accounts, while the merger policy would increase regulatory scrutiny for combinations involving the largest banks.

Vice President and Democratic presidential nominee Kamala Harris' pitch for an "opportunity economy" is a sound political and economic vision. But banks must be a partner in making that vision into a reality.

The comments came during a two-hour chat on X Spaces in which Trump and his sons offered a decentralized finance company as an answer for the de-banked.

The New York community bank cited the contribution of BaaS to its core financial results, evolving regulatory expectations, and the cost of talent and technology needed to scale as factors in this decision.

The convergence of technology like blockchain with the continued evolution of rules and industry standards in traditional finance will shape the next era of market progress.

As the 68-year-old CEO focuses on succession planning, here's a look at some of the longtime JPMorgan executives who could succeed him.

Sen. Elizabeth Warren, D-Mass., and Rep. Maxine Waters, D-Calif., said in a letter to the American Bankers Association and the Chamber of Commerce that the banking industry gets a "free pass" in Community Reinvestment Act examinations.

Tim Ryan, who joined the megabank in June, will work with COO Anand Selva to oversee enhancements to Citigroup's data integrity systems, according to a memo.