All articles tagged with #banking
The Trump administration is reportedly weighing an executive-order-style move to require banks to collect citizenship documentation from customers, potentially barring some noncitizens from opening or maintaining accounts; however, experts say unilateral action is unlikely and any policy would likely require Congress or APA rulemaking, with broader implications as part of a series of moves restricting financial access for noncitizens.
JPMorgan Chase confirms it closed Donald Trump’s bank accounts following the Capitol riot.
Dallas is emerging as a rival to Charlotte in banking, rising to the second-largest hub for financial workers behind New York and luring major players like Scotiabank, while Charlotte pushes growth in tech and life sciences to stay competitive; the rivalry reflects broader corporate relocation trends, cost considerations, and regional incentives as both cities vie for investment and talent.
A banking chief warns that Europe urgently needs credible alternatives to Visa and Mastercard to reduce dependence on US-dominated payment networks, calling on policymakers and banks to act quickly to develop independent payment rails.
Goldman Sachs is partnering with Anthropic to develop AI-powered agents based on Claude to automate internal banking tasks—ranging from trade and transaction accounting to client due diligence and onboarding. The project aims to speed up core operational processes, but Goldman says it is still in early development and has not set a launch timeline.
MarketWatch notes that only about 7% of Americans earn 4% APY or more on savings, yet several banks currently offer 4%+ APYs. It lists five options—Axos Bank Axos ONE Savings (4.21% APY, $1,500 min), Openbank by Santander (4.20%, $500 min), LendingClub Level Up Savings (4.00%, $250+ monthly deposits), Bread Savings High-Yield Savings (4.00%, $100 min), and VIO Bank (4.02%, $100 min). The piece advises shoppers to compare rates and consider CDs for fixed returns, highlighting the large gap between traditional banks and high-yield digital accounts.
Santander Bank will acquire Webster Financial Corp., the parent company of Webster Bank, in a $12.3 billion deal that would create a larger, regional lender with a broader U.S. footprint; the agreement is contingent on regulatory approvals and customary closing conditions, with completion expected after clearance from authorities.
Banco Santander will acquire Webster Financial in a cash-and-stock transaction valued at about $12.3 billion, with Webster shareholders receiving $48.75 in cash and 2.0548 Santander ADS per Webster share. The deal is subject to customary closing conditions, including regulatory and stockholder approvals, and is expected to close in the second half of 2026. Webster will become a wholly owned subsidiary of Santander, with leadership integrated into Santander's U.S. operations.
Banco Santander agreed to acquire Webster Financial in a $12.3 billion cash-and-stock deal, paying Webster shareholders $48.75 in cash and 2.0548 Santander American Depositary Shares per Webster share; Webster would become a wholly owned unit of Santander Bank NA, with Webster CEO John Ciulla joining Santander leadership, and the deal is expected to close in the second half of the year.
Santander plans to acquire Webster Financial (Webster Bank) in a deal valued at about $12.2 billion, expanding the Spanish bank's footprint in the US; the merger is subject to regulatory approvals and standard closing conditions.
JPMorgan Chase and Bank of America will match the U.S. government's one-time $1,000 contribution to new children’s retirement savings accounts created under a pilot program aimed at narrowing the wealth gap; other large firms like BlackRock, BNY, Robinhood, SoFi and Charles Schwab have also announced similar commitments.
Treasury Secretary Scott Bessent is pushing a 'fundamental reset' of post-crisis banking rules, coordinating with independent regulators to loosen oversight, push digital assets into the banking system, and reduce costs for megabanks. Supporters say the approach could boost growth and lending, while critics like Sen. Elizabeth Warren warn it risks stability by subordinating risk management to Wall Street. Regulators stress they will balance growth with safety, but the unusually close Treasury involvement signals a centralized push on financial regulation.
Banco Master, a mid-sized Brazilian bank, collapsed amid concerns its growth relied on unusually high-interest fixed-income bank-deposit certificates; as the liquidation drags on, the fallout has grown ugly, entangling politicians and judges in alleged fraud and mismanagement.
Former President Donald Trump filed a lawsuit against JPMorgan Chase and CEO Jamie Dimon, alleging the bank abruptly closed his accounts in February 2021 and sought to blacklist him from other banks in the weeks after the January 6 Capitol attack; he is seeking at least $5 billion in damages.
U.S. bank stocks fell in morning trading as investors awaited the Trump administration’s January 20 deadline to implement a 10% cap on credit-card interest rates, with JPMorgan Chase, Citigroup and others down amid concerns about credit access and potential regulatory action.