Banking

The marijuana fintech's stock price has fallen in recent months amid regulatory uncertainty for cannabis financial services.

The KBW Nasdaq Bank Index is down more than 7% year to date. Analysts blame confusion caused by President Trump's evolving tariff policies and heightened worries about an economic downturn that could hurt banks' credit quality.

Five Star Bank's parent company denied wrongdoing but said the agreement spares it the uncertainty and expense that might have resulted from a trial.

A joint venture between the military-focused Palantir and investment conglomerate TWG will sell cybersecurity protection to financial institutions that are wary about the safety of artificial intelligence.

CEO George Gresham has left the struggling fintech, which will now explore potential strategic alternatives.

The 10-year-old lender, which reported a double-digit jump in profits, is benefiting from what its CEO called "animal spirits" at work on this side of the Atlantic.

First Busey finalized its acquisition of CrossFirst Bankshares; American Express agreed to buy expense management firm Center; Valley National Bank appointed a new president of commercial banking and a new CFO; and more in this week's banking news roundup.

Forecasters on an American Bankers Association panel predict continued economic growth this year, though they say President Trump's tariffs have created new inflation and recession risks.

Six proposals involving the purchase of a bank were terminated or rejected in 2024.

The New Jersey bank, which has been investing in its capital markets business, recently helped the fintech lender Best Egg securitize and sell $160 million of loans.

Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.

Jenkins succeeds retiring CEO Gary Regoli at the Florida-based credit union, which has acquired several community banks and launched a bitcoin service that it later shut down.

The company lets business owners comingle personal and business finances in one app.

A pair of Congressional Review Act resolutions directed at the Consumer Financial Protection Bureau's overdraft and larger participant rules are expected to make it to President Donald Trump's desk.

As steep tariffs on Canadian goods took effect this week, banks on both sides of the border expressed concern about the economic fallout and the uncertainty their customers face.

The Detroit lender will take a first-quarter hit due to a latest balance sheet restructuring, but said the play should boost profitability in the long term.

Consumer advocates MyPath and the Mississippi Center for Justice have been allowed to intervene in a banking industry lawsuit challenging the CFPB's $5 overdraft fee cap for large financial institutions after the bureau declined to defend the rule.

The top five bank M&A deals had an average deal value to tangible common equity ratio of nearly 185%.

Edward Arthur Nurse was in charge of the vault at Park Side Credit Union. Then $389,000 went missing, replaced by piles of fake cash.