bankingdive

BofA will lend, bank, invest in and advise on projects such as data centers, power generation and transportation.

Expected to close in the first quarter of 2027, the deal is the bank's second multibillion-dollar ETF-related acquisition of the past nine months.

Kate Danella, the bank's head of consumer banking, will succeed Dave Keenan, who will retire at the end of the year, the Alabama-based lender said.

Regulators restricted First Guaranty Bank's ability to extend credit to borrowers whose transactions were labeled a "loss" in a September 2025 exam. The bank also must boost its Tier 1 leverage capital ratio.

The deal, set to close in the first quarter of 2027, would boost HBT's footprint to more than 100 branches and its assets past $8 billion.

At least three other lenders have warned investors of consequences over the past year, but unlike U.S. Bank, those institutions have either been sued or called out publicly by President Trump.

The Office of the Comptroller of the Currency argued the Dutch fintech's U.S. operations would be inadequately capitalized, its management inexperienced and its road to profit "unrealistic."

Stripe, Visa, Wise and industry trade groups back the Federal Reserve's plan to expand its instant payment system for cross-border use.

Understanding how exposure is allocated and how it interacts with coverage determines resilience.

The senator said the OCC and Federal Reserve should not have let the bank convert its charter from state to national oversight while under an active consent order.