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Blue Ridge Bank, a once-frequent fintech partner that landed in regulatory hot water twice this decade, has a buyer: Asheville, North Carolina-based HomeTrust Bank. Acquiring Richmond, Virginia-based Blue Ridge will expand HomeTrust’s footprint in Virginia and push the lender to $7 billion in assets. The combined company will have about 60 locations across the Southeast. https://lnkd.in/e9KMw6PD
The trust bank will issue and manage its own stablecoins and will be led by Zach Witkoff, CEO and chairman, who founded World Liberty Financial alongside President Donald Trump’s three sons Eric Trump, Donald Trump Jr. and Barron Trump. https://lnkd.in/enacZ5_7
Pairing Kard's “technology, talent and merchant relationships” with Citi’s scale and existing payments capabilities is intended to strengthen the bank’s commerce ecosystem strategy, allowing for more personalized rewards and offers and fostering opportunities to connect customers and brands, the New York-based lender said. https://lnkd.in/e4biYsgx
zerohash called the application’s return “an administrative process that allows us to refile this month.” https://lnkd.in/e9Apmp-3
The change for Bank of America employees takes effect mid-September. https://lnkd.in/eiV9fA96
A sitting U.S. senator, a former one, and two digital-asset organizations petitioned the Supreme Court this week to resolve a long-running dispute over Wyoming lender Custodia Bank's lack of access to a Federal Reserve Board master account. https://lnkd.in/eTtYUEwh
Northwest Bank CEO Louis Torchio, who’s led the bank since 2022, said he’s swapped out every one of his direct reports – 13 people – over the past three years, with all having worked at “larger, more complex institutions.” “The goal was to be able to articulate this transformation vision and then recruit people who have been there, done that,” Torchio said. https://lnkd.in/eybm9cta
Matthew Newcomb’s departure ends a 10-year stint at Chime during which the CFO drove the company’s financial and investment strategy and scaled its business amid several private financing rounds and last year’s initial public offering, CEO Chris Britt said Wednesday. Mark Troughton, meanwhile, will add interim CFO duties to his purview, which already includes oversight of operations, risk, lending, corporate development and strategy. https://lnkd.in/eXXDCH7k
Augustus, previously Ivy, aims to speed up payment settlement to adjust for artificial intelligence. The Federal Deposit Insurance Corporation (FDIC) approved Augustus’ application for deposit insurance last week. https://lnkd.in/eikKK3AW
The Federal Reserve Board’s approval – 129 days after it received the application – was the last regulatory green light Santander needed for the estimated $12.3 billion acquisition of Webster Bank, this year’s largest bank deal to date. The Office of the Comptroller of the Currency issued its approval in June, and the European Central Bank did the same in July, the banks said. https://lnkd.in/enfH3WYn