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The Bank of England governor won unanimous backing to succeed Klaas Knot as chair. The appointment will be formalized in June.

The Consumer Financial Protection Bureau has chosen to prosecute only a handful of cases as the Trump administration drops other investigations, claiming enforcement is not mandated by the Dodd-Frank Act.

The OCC's approval of SmartBiz buying a bank opens the door to other fintech M&A deals for accessing bank charters, which can help a fintech stay in business.

Provident Bank's Tara Brady was promoted to chief experience officer; the Federal Reserve ended its enforcement action against Nano Banc; Jim Nussle announced plans to retire as CEO of America's Credit Unions; and more in this week's banking news roundup.

The Fitzgerald-based Colony Bankcorp agreed to pay $3.5 million to purchase an agency in Monroe, Georgia. The deal signals the potential return of more banks buying insurers than selling them.

The Department of Justice said in a court filing Friday that a February stop-work order from acting Consumer Financial Protection Bureau Director Russell Vought did not entail stopping statutorily mandated work by the bureau, defying earlier testimony.

Wall Street continued its sell-off of financial institutions as the increasing likelihood of a U.S. recession fuels fears of revenue pressures.

The Swedish institution's New York listing, which was viewed as a sign of fintech's recovery, has been delayed due to market volatility.

The central bank wants to let Trump's policies play out across the economy before deciding which way to move interest rates, and it's too soon to know what the impacts will be, the Federal Reserve chair said.

Banks in the U.S. and India will offer cross-border transactions using the technology that underpins cryptocurrency. Our global payments roundup also includes updates from PayPal, Lloyds and a very remote ATM deployment.

In a speech Friday, Federal Reserve Gov. Michael Barr said the advent of generative artificial intelligence promises to boost bank productivity, but banks should be careful in choosing AI partners to delineate data security responsibilities.

A Plaid spokesperson said an IPO remains 'a milestone we're tracking toward' but it wouldn't happen this year.

The megaservicer is fending off a class-action lawsuit while suing its insurers for allegedly failing to indemnify it following its breach in 2023.

Central bank digital currencies have the potential to improve financial inclusion for women, but only if they are combined with a system that lowers multiple other barriers to their financial empowerment.

The Federal Deposit Insurance Corp. is navigating widespread layoffs and policy changes amid a government-wide overhaul. What does it mean for the industry?

Unemployment remained relatively stable amid declining consumer confidence and an emerging trade war, which have roiled markets.

The Suffolk, Virginia-based bank has agreed to pay more than $200 million for Old Point Financial in Hampton. It announced the deal just two days after its previous acquisition closed.

As the risk of a recession rises, commercial real estate loans remain a major concern for banks and industry participants. One observer asked: "Is '25 the year where sellers start to capitulate, call a loser a loser, and move on?"

President Trump's tariffs on imported vehicles threaten to drive up auto prices at a time when more car owners are already drifting into delinquency on their loans.

Fears of a recession intensified after President Trump unveiled his plan to impose a minimum 10% tariff on all U.S. imports, and the KBW Nasdaq Bank Index tumbled by nearly 10%.