The binary charter rules that separate banks and nonbanks are no longer fit for purpose in a financial services industry where a broad array of companies offer banklike services. A new set of diverse charters is needed.

The U.K. neobank received an investment from the AI giant as the fintech aims to globally expand and acquire a U.S. banking license.

Lancaster, Pennsylvania-based Fulton Financial said Monday it will pay $243 million in stock for Blue Foundry Bancorp, which has lost more than $20 million since converting to a public company in 2021.

Eight months after Green Dot embarked on a review of its strategic alternatives, the fintech said it will sell its banking operations to CommerceOne Financial and sell its fintech platform to Smith Ventures. Both buyers are linked to Alabama businessman Bill Smith.

As banks change layouts to focus more on customer experience, the ATM company is leaning into AI-powered management and simplified technology sales to keep self-service kiosks relevant.

While many may roll their eyes at the idea, the practice of decorating a bank branch for the holidays, or otherwise changing up its outward presentation, has a real impact on customers' attention.

A recent $450 million loan is par for the course at Beal Bank USA, which has developed a reputation for seeking out nine-figure loans backed by tangible property.

Chris Shelper is now the sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA's board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more in this week's banking news roundup.

The megabank laid out a series of changes, including the impending departure of its chief financial officer and other executive shifts related to a revamp of its U.S. personal banking line of business.

The $22.7 billion-asset company may be interested in buying certain banks that HoldCo Asset Management presses to sell in the future, Chairman and CEO John Allison said. Home is planning to announce its next acquisition in December.

The 170-year-old Salem Five Cent Savings Bank has hired one private banker and could scale the business further if its performance matches management's expectations.

President Trump has nominated Stuart Levenbach, associate director of the Office of Management and Budget, to be the director of the Consumer Financial Protection Bureau. His selection allows acting CFPB Director Russell Vought to remain in place for at least another 210 days.

Profitable community banks based in Georgia and New Mexico have announced deals to sell themselves to credit unions this week, drawing the ire of banking advocates.

A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers.

The West Reading-based bank has opened three offices in California and two in Nevada, continuing its strategy of establishing a presence in high-growth markets around the country, CEO Sam Sidhu said.

Witnesses and lawmakers at a House Financial Services Committee hearing gave a more downcast view of a Senate deposit insurance reform proposal, with many House committee members expressing cost concerns.

The country's second-largest bank has unveiled a digital platform for retirement decisions — not on how to save, but how to disburse those savings in a steady, sustainable way.

The financial services firm based in Houston tried to buy a Chicago community bank three years ago as part of a plan to offer traditional banking and digital asset services on one platform. With Illinois state approval secured, it now awaits a decision from the Fed.