The Latest

One of the leading makers of pre-packaged salads has acquired a 16.3% stake in Salinas, California-based Pacific Valley Bank. "It's a real vote of confidence," the bank's CEO said.

World Liberty Financial, a crypto venture co-founded by President Trump, applied for a national trust charter with the Office of the Comptroller of the Currency. The move comes as several prominent crypto companies have applied for and received conditional approval for trust charters since the beginning of the Trump administration.

The deal ends more than a year of speculation of who would take over Apple's coveted credit card portfolio.

House Financial Services Committee Chairman French Hill's community-banking package includes reciprocal deposits, tailoring and many other items on community bankers' wish lists.

Federal Reserve Vice Chair for Supervision Michelle Bowman outlined several priorities affecting community banks, including potential changes to asset thresholds for smaller institutions.

The U.K. bank has completed a payment using the stablecoin alternative; while Revolut is trying to acquire Turkish neobank FUBS. Plus: execs tied to the Wirecard scandal are on their way to prison and more in the American Banker global payments and fintech roundup.

The bank is investing in Ubyx to help traditional financial institutions settle stablecoin payments and compete with nonbank fintechs.

President Trump said he would prohibit large institutional investors from buying single-family homes. While the executive couldn't bar such investments on its own, a legislative ban could gain bipartisan support.

The company's asset and wealth management business is completely cutting ties with proxy advisors, opting to build its own research and public company voting system. JPMorgan is the first bank to stop using firms such as Glass Lewis and ISS.

With fintechs and legal cases pressuring payment fees, the card companies are leaning more on revenue from other sources.