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A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money laundering and Know Your Customer rules.

Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.

The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.

Speaking at the New York Federal Reserve's Innovation Conference on Friday, New York Department of Financial Services acting Superintendent Kaitlin Asrow said the regulator was interested in maintaining long-standing consumer protections as AI adoption increases.

Banks face conceptual, operational and other hurdles that threaten further adoption of real-time payments.

Five Star Bank near Sacramento plans to expand in Lodi, an agricultural hub in the Golden State's Central Valley region. The lender's growth push comes as the number of farm banks has been shrinking.

U.S. banks have passed the Federal Reserve's stress tests with flying colors, again. It makes you wonder if the stress tests are actually stressful enough.

The bill was one of three filed on Thursday aimed at reforming the two government-sponsored enterprises, all of them from Representative Scott Fitzgerald, a Wisconsin Republican. 

Whether advisors choose individual stocks or not, the SEC's proposal to allow semiannual reporting rather than quarterly could impact clients' portfolios.

Restrictions that limit access to private market investments are harmful to ordinary investors, who are denied better returns. They also seal off a large potential source of funding for long-term infrastructure investments.

Foreign investors are gobbling up tokenized U.S. equities while domestic investors remain unable to take advantage of the opportunities such assets offer. U.S. policymakers need to level the playing field.

Many clients avoid consolidating their assets at a single firm because they don't want the hassle. Advisors say it's important when to know not only when they're most likely to want to move assets, but also what to say.

The Consumer Financial Protection Bureau is overhauling its consumer complaint portal after receiving 6.6 million complaints last year, more than double the 3.2 million in 2024, citing abuse by credit repair firms and social media influencers.

The wealth management firm received its conditional approval from the OCC as it seeks to manage custody of digital asset investments for its clients.

Colony Bankcorp has reached a $163 million deal to acquire Florence, South Carolina-based First Reliance Bancshares.

The Federal Deposit Insurance Corp. issued proposals Thursday that would reduce planning requirements for big banks and slash deposit insurance prices, citing the financial health of the Deposit Insurance Fund.

The card network's recent partnerships attempt to build demand for new forms of artificial intelligence while feeding "value added" revenue — a nonpayment fee metric that investors watch closely.

Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.

The $44 billion fintech also appointed a new CTO and head of engineering as it foregrounds artificial intelligence in strategic decision-making.

CEOs of payments companies and fintechs such as Block and Bolt have pointed to AI as a driving force behind layoffs at their organizations. But Tania Babina, an associate professor of finance at the University of Maryland's Smith School of Business, says there is no systematic evidence that AI is taking jobs.