Aug. 13, 2025
| Today’s news and insights for banking industry leaders
Consultant and FDIC vet Bob Hartheimer has taken the reins at Evolve Bank & Trust and aims to “restore trust” in the embattled bank.
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The NY attorney general’s lawsuit comes five months after the Consumer Financial Protection Bureau dropped a federal action over the same matter.
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“We're not trying to sell different packages or explain the nuances of” various product levels, said Kate Luft, the lender’s head of retail banking. “That's a complication, I would say, externally of Citi right now.”
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The Canadian bank named Kevin Li the next CEO of its U.S. operations. Current U.S. CEO Shawn Beber will shift to a special adviser role in November before retiring next July.
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Column
The president blasted David Solomon (and his erstwhile DJ side gig) in a social post Tuesday, suggesting he fire a top analyst at the bank. Trump also teased legal action against Fed Chair Jerome Powell.
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More than half of the new use cases launched by the financial firms this year leveraged generative AI capabilities, according to Evident Insights research.
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As digital costs rise and privacy rules tighten, banks need new ways to connect. This infographic breaks down 5 steps to win customer trust.
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