FinCEN bars U.S. banks from processing MEXC transfers

FinCEN cuts MEXC off from U.S. financial institutions

Treasury says the crypto exchange facilitated illicit transactions tied to sanctions evasion and cybercrime. FinCEN’s order prohibits U.S. financial institutions from processing funds transfers involving MEXC Global, which it designated a primary money laundering concern.

Illicit transactions

≥$16BTreasury estimate

OCC sets AI examination expectations under existing supervisory standards

More autonomous or higher-consequence AI uses may warrant stronger controls and direct human oversight. The OCC’s nonbinding framework covers purpose, risks, controls, human oversight, resilience and testing; it does not require banks to establish a separate AI risk category or risk appetite.

JPM JPMorgan Chase, DB Deutsche Bank and BAC Bank of America face prospective Epstein scrutiny

Incoming Senate Finance Committee chair Ron Wyden plans to use its investigative and subpoena powers, American Banker reports. The proposed scrutiny concerns alleged failures to report suspicious Epstein-related transfers; no formal action has begun.

FDIC restores Old Glory Bank’s adequately capitalized designation

The regulator amended its corrective-action directive following the bank’s earlier capital shortfall. Old Glory Bank had raised private capital in October after its planned merger with a special-purpose acquisition company failed to receive Federal Reserve approval.

Capital raised

$8Min October

Fed survey finds tighter commercial-property lending and weaker demand

Banks also tightened small-business lending and every surveyed category of lending to nonbank financial institutions. The Fed’s third-quarter Senior Loan Officer Opinion Survey found standards for large and middle-market business loans basically unchanged. A separate American Financial Services Association survey found softer consumer-loan demand and worsening performance, especially among subprime borrowers.

Worsening business conditions

>47%consumer-finance respondents

Worsening funding costs

>63%consumer-finance respondents

KEY KeyCorp agrees to buy Atlantic-Pacific Capital

The private-capital adviser adds a capability for funds that extend ownership of existing investments. A KeyCorp executive said the acquisition helps it pursue its 2028 capital-markets revenue target despite softness in middle-market mergers and acquisitions.

Capital-markets revenue

$540M9M 2026

Closing

Early 2027expected

FCAP First Capital agrees to acquire First Bancorp of Indiana

The all-stock merger would expand First Harrison Bank across southern Indiana and western Kentucky. First Bancorp’s First Federal Savings Bank operates ten offices and would merge into First Harrison.

Deal value

~$33.2M

Target assets

~$583Mat Sep 30

Target deposits

~$473Mat Sep 30

Closing

H1 2027expected

PNC PNC expands branch plans and schedules CFO succession

The planned additions span South Carolina, Georgia, Texas, Florida and North Carolina as part of PNC's national growth strategy. Retail chief Alex Overstrom will succeed Rob Reilly as chief financial officer in March 2027, with Reilly becoming executive vice chair.

Carolina-Georgia branches

53planned additions

Other new branches

10planned additions

New branch goal

370by 2031