June 24, 2025
| Today’s news and insights for banking industry leaders
The bureau was to monitor Bank of America for five years in connection with a $12 million penalty it paid for allegedly failing to collect demographic data on mortgage applicants.
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The central bank said it would replace references to the metric “with more specific discussions of financial risk.” Banks can still use the concept in their own risk management policies, the Fed said.
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The transaction, set to close in the fourth quarter, would expand the Cincinnati’s bank’s presence in the opposite corner of the Buckeye State.
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With loan demand softening and competition for deposits at an all-time high, financial institutions are rethinking how they attract—and keep—deposit customers. Learn more in
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The president signed a measure nullifying a 2024 OCC rule that Republican lawmakers aimed to curb through the Congressional Review Act, citing “burdensome standards.”
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The carmaker joins GM, Ford and Edward Jones in awaiting the OK to form industrial banks. The FDIC's acting chair said ILCs could boost creation of new banks. Opponents say the move sidesteps the Fed.
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The bankers are former employees of Ally, Santander, Bank of Hawaii and BOKF. The prohibitions come after the regulators say they found instances of embezzlement and misappropriation of funds.
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For banks and credit unions, supporting customers’ financial health has become a must-have offering. Learn what to do to maintain customers by meeting this growing demand in this infographic.
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