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A new survey of industry executives finds substantial interest in cryptocurrencies and mergers but anxiety about competition from large technology companies.

Daily edition for December 13, 2021

The second year of the pandemic unleashed unprecedented exogenous challenges for financial companies heading into 2022. What core trends will shape the industry moving forward?

For the third time since the start of the pandemic, the Richmond, Virginia, company will close branches to contain costs in what it calls a “challenging macroeconomic environment.”

If the Democratic majority on the Federal Deposit Insurance Corp.’s board succeeds in advancing a review of bank merger policy — over the disapproval of Chair Jelena McWilliams — progressive regulators could be emboldened to push for more substantive reforms.

Through its partnership with Visa, the California credit union lets members receive digital replacements for lost cards almost instantly and add digital cards to mobile wallets like Apple Pay.

Driver Management says CEO Vernon Hill’s aggressive deposit-gathering strategy is not paying off for shareholders and wants the company to merge with a bank that would deploy the deposits into higher-yielding loans.

The United States is threatening to curtail transactions into and out of Russia to discourage it from invading Ukraine. The standoff heightens existing friction between U.S. payments companies and Moscow, which could impose new restrictions on them in response to sanctions.

Societe Generale Chief Executive Frederic Oudea is taking over the bank’s risk and compliance functions, seeking greater control over management of the bank’s legal affairs after it paid billions of dollars in penalties.

The so-called reserves held by the issuers of stablecoins like Tether and USD Coin aren’t the risk-free assets that the term connotes. For all the public knows, they could largely consist of low-grade corporate debt.

The Financial Stability Board appointed Federal Reserve Gov. Lael Brainard to chair its standing committee on the assessment of vulnerabilities.

Daily edition for December 10, 2021

The ruling may offer hope for Gwen Campbell, who alleges that JPM’s private bank is “poaching” and “siphoning” her celebrity clients’ assets away from her management and paycheck.

The banking industry, which often questions aggressive moves by the agency, urged the Consumer Financial Protection Bureau to level the regulatory playing field between the financial and technology sectors.

In an unprecedented move, two Democrats on the Federal Deposit Insurance Corp.’s board said they had approved a review of the policy without the consent of Trump-appointed Chair Jelena McWilliams. The agency released a statement saying the action had no legal standing.

Facing a lawsuit from a disgruntled investor, the Arkansas company has released additional information about how it arrived at the $919 million price it’s paying for Happy Bancshares.

Bank of America is hiring thousands of employees this quarter and investing heavily in talent and technology headed into the new year, CEO Brian Moynihan says.

Brent Huisman routinely solicited and received handouts from auto auction companies, the Federal Reserve said in an enforcement action that bans him from the banking industry. The gifts included Super Bowl tickets and luxury hotel stays, according to a lawsuit that Huisman eventually paid $275,000 to settle.

Banks in Mastercard's True Name program, which allows transgender and nonbinary customers to get cards bearing their preferred name, often use those customers' legal names elsewhere. Three challenger banks have made adaptations to achieve greater consistency across all communication channels.

JPMorgan Chase, Citigroup and six other large banks may have information about billions of dollars looted from Libya by its former dictator Moammar Al Qaddafi, the Libya government said in a subpoena application.