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News
Alabama’s SouthPoint under fire by the Fed
1+ hour ago (400+ words) The Federal Reserve and the Alabama State Banking Department ordered SouthPoint Bancshares to take steps “to serve as a source of financial and managerial strength” for its subsidiary SouthPoint Bank. Birmingham, Alabama-based SouthPoint Bancshares must submit a capital plan and…...
Virginia lender to acquire Forbright???s DC-area branches
49+ min ago (9+ words) Virginia lender to acquire Forbright’s DC-area branches Banking Dive...
Flagstar picks cloud-native core to replace legacy patchwork
1+ hour, 9+ min ago (823+ words) While there’s plenty of industry chatter about cloud-native and API-powered capabilities, Flagstar Bank executives found “a lot of variation” as they evaluated different core systems. As Flagstar planned its shift from two core systems to one, executives spent about a…...
CAMELS overhaul prompts calls for clarity on ‘material financial risk’
1+ day, 40+ min ago (758+ words) Trump-appointed bank regulators have pledged to focus on material financial risk. Commenters called for a clear definition of that term in proposed changes to CAMELS ratings. A pledge to focus on material financial risk has been a common refrain for…...
Monzo’s chair to exit next month
2+ day, 38+ min ago (648+ words) Longtime Barclays alum Gary Hoffman cited health concerns as his reason for leaving the fintech before his term ends. His departure comes after a year of contentious change. Monzo’s chair, Gary Hoffman, will leave the U.K.-based fintech in early…...
SEC proposes crypto rules amid Clarity stall
2+ day, 50+ min ago (289+ words) The SEC’s Regulation Crypto Assets proposal will establish a framework for crypto firms to raise capital under federal securities laws and also includes a conditional safe harbor from being deemed an investment contract. The proposal builds on guidance the SEC…...
Old Glory Bank, SPAC scrap merger plans
3+ day, 1+ hour ago (552+ words) The bank said last month it may have to pursue “a sale or organized wind-down” if the deal wasn’t consummated, because it lacked sufficient capital to satisfy regulators. In an email to bank customers, Old Glory CEO and co-founder Mike…...
Lawmakers counter World Liberty approval with anti-corruption bill
3+ day, 46+ min ago (758+ words) A Trump family-backed crypto firm received a conditional charter Friday. The following day, several senators introduced a bill that would make such arrangements illegal – retroactive to Jan. 20, 2025. Following the conditional approval of a national trust bank partially owned by the…...
NC lender to acquire Blue Ridge Bank for $448M
3+ day, 14+ hour ago (612+ words) The deal would grow Asheville, North Carolina-based HomeTrust Bank to $7 billion in assets and 60 locations across the Southeast. HomeTrust, which has about $4.4 billion in assets, has 30 locations across North Carolina, South Carolina, eastern Tennessee, southwestern Virginia and Georgia. HomeTrust referred…...
5 things every bank should know about AI before making their next technology investment
4+ day, 19+ hour ago (449+ words) Pexels / Ali Cuhadaroglu Artificial intelligence has quickly become one of the most discussed topics in banking. Board meetings, strategic planning sessions, vendor presentations and industry conferences are all filled with conversations about AI's potential to transform financial services. Yet for…...