The Latest

  • Consumer Financial Protection Bureau Director Rohit Chopra testifies before the Senate Banking, Housing and Urban Affairs Committee April 26, 2022 in Washington, DC.
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    Win McNamee via Getty Images
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    6 ways the CFPB wants to keep its eyes on fintech middlemen

    Clearer guidance around “rent-a-bank,” open banking and buy now, pay later will ensure more consumers benefit, Director Rohit Chopra said in remarks last week.

  • Guy doing extended reality with metaverse banking
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    Permission granted by HTC
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    Sponsored by HTC VIVE

    Extended reality promises a solution to banks’ woes. Can it deliver?

    XR technology is revolutionizing employee training and customer experiences for banks. What makes it impactful?

  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Win McNamee via Getty Images
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    Opponents of Capital One-Discover merger to air grievances

    Consumer advocates say the tie-up will stifle competition and give the combined company an easy avenue to raise fees on card payments.

  • HSBC incoming CEO Georges Elhedery
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    Courtesy HSBC

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    HSBC names CFO Elhedery as its next CEO

    The Lebanon-born banker was seen as an early front-runner to succeed Noel Quinn. Elhedery took a sabbatical in 2022, reportedly learning Mandarin, and was named CFO when he returned.

  • A sign that reads "Discover" marks the entrance to the card company's headquarters in Illinois.
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    Scott Olson / Staff via Getty Images
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    Discover to sell student loan portfolio to Carlyle, KKR in $10.8B deal

    The student loan sale is the latest loose end Discover seeks to tie up since Capital One announced its intent to purchase the card company.

  • Webster Bank taps ex-First Republic CFO as new finance chief

    Neal Holland served as CFO of First Republic for roughly seven months before JPMorgan acquired it. He also was MUFG Union’s CFO just ahead of its purchase by U.S. Bank.

  • Booth and sign for Federal Reserve payments services at Nacha conference in May 2024.
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    Lynne Marek/Banking Dive
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    FedNow zooms past RTP participation in inaugural year

    The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.

  • SEC seal outside Washington D.C. building
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    Chip Somodevilla via Getty Images
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    SEC drops enforcement action against Paxos

    The SEC dropping its enforcement action against Paxos a year after issuing the firm a Wells notice may have reignited the crypto regulation debate.

  • Bill Rogers, wearing a blue suit jacket, speaks during a Congressional hearing, with a screen behind him
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    Alex Wong / Staff via Getty Images
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    Truist to cut tech jobs amid restructuring

    The bank will make an undisclosed number of cuts over the next three to four months and help affected employees in finding other opportunities.

  • Morgan Stanley CEO Ted Pick
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    Courtesy of Morgan Stanley
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    Morgan Stanley sees 41% profit jump, but wealth management teeters

    CFO Sharon Yeshaya assured investors “both sides” of the bank are “working.” The lender saw a 51% gain in investment banking fees.

  • Bank of America CEO Brian Moynihan speaks during a Congressional hearing, with people in the background behind him
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    Win McNamee / Staff via Getty Images
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    BofA projects net interest income improvement later this year

    Second-quarter results for the Charlotte, North Carolina-based lender are yet another sign banks are getting bit by higher-for-longer interest rates.

  • People walk around the new headquarters of Creve Coeur, Missouri-based First Bank.
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    Permission granted by O’Malley Hansen Communications
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    Missouri’s First Bank leans on ‘Goldilocks size’

    The family-owned bank, which also serves customers in Illinois and California, is planning to enter the Texas market this year.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    First Republic ex-employees’ suit dismissed against FDIC

    A federal district judge said his court “lacks jurisdiction” over the lawsuit, brought by 170 ex-First Republic employees who say the FDIC is blocking them from $150 million in retirement funds.

  • Goldman Sachs CEO David Solomon appears onstage.
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    Paul Morigi via Getty Images
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    Goldman’s profit more than doubles, but enthusiasm is muted

    CEO David Solomon repeated his displeasure around the Fed’s demand that Goldman increase its stress capital buffer. The bank has appealed the test result, according to the Financial Times.

  • BofA CashPro
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    Courtesy of Bank of America
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    BofA tackles digital banking’s transaction pain points

    The latest CashPro platform update is designed to better address transaction-related inquiries — one of the top reasons business customers call and email the bank.

  • Citi CEO Jane Fraser joins a meeting hosted by U.S. President Joe Biden with corporate chief executives and members of his cabinet to discuss the looming federal debt limit in the South Court Auditorium in the Eisenhower Executive Office Building on October 06, 2021 in Washington, DC.
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    Chip Somodevilla / Staff via Getty Images
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    Citi leans on tech modernization to fix data quality management failings

    Days after federal regulators hit the bank with more than $135 million in fines, CEO Jane Fraser said Citi's transformation efforts addressed "decades of underinvestment."

  • Serena Williams attends a film premiere
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    Michael Loccisano / Staff via Getty Images
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    Q&A

    Why Morgan Stanley teamed with Disney to sponsor a Serena Williams docuseries

    CMO Alice Milligan explains how the move was a natural fit for a financial services marketer that has made amplifying women’s sports a priority.

  • m&a handshake
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    Natalie Meepian via Getty Images
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    Bain, Reverence to acquire Envestnet in $4.5B deal

    The transaction, expected to close in the fourth quarter, will take the publicly traded wealth technology platform private.

  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Column

    Dive Deposits: It was Citi’s week and, arguably, everybody won

    The bank shook off fresh penalties by reporting skyrocketing revenue in its banking unit. It’s no wonder Citi granted $41 million to its banking chief. But a rival for that job may be glad he left.

  • Wells Fargo CEO Charlie Scharf
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    Drew Angerer / Staff via Getty Images
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    Wells Fargo cites customer movement as net interest income drops

    The bank looked for a boost from higher fees in investment banking as it aims to reduce its reliance on net interest income.

  • New BNY logo, rebranding
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    Courtesy of BNY Mellon newsroom
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    Banks should proactively tackle instant payments fraud: BNY

    Use of data-sharing protocols among banks could warn customers before they send money, said Carl Slabicki, a BNY executive.

  • Outside shot of Citigroup HQ with a sign with the Citi logo in the shot
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    Mario Tama via Getty Images
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    Citi to pay $135.6M in new penalties over 2020 orders

    The bank has made insufficient progress toward resolving nagging data quality, risk management and internal control issues, the OCC and Federal Reserve said Wednesday.

  • RBC shakes up C-suite, splits personal and commercial banking

    A spate of moves appears to elevate Neil McLaughlin as a contender to succeed Dave McKay as CEO, but that transition may not be soon. The bank did not disclose the future of its still-interim CFO.

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    Alex Wroblewski via Getty Images
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    Senators press Jamie Dimon on alleged climate turnabout

    The lawmakers, including Sen. Elizabeth Warren, D-MA, demanded answers from the JPMorgan Chase CEO on the bank's environmental "commitments" and "aspirations."

  • Tim Scott speaks during a Senate hearing
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    Bonnie Cash / Stringer via Getty Images
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    Senators grill FDIC chair nominee Goldsmith Romero

    The CFTC commissioner aiming to replace Martin Gruenberg pledged Thursday during a Senate committee hearing to bring accountability to an agency reeling from toxic-culture allegations.

  • Legal finance
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    matt_benoit via Getty Images
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    Archegos founder found guilty of fraud, market manipulation

    Bill Hwang was found guilty of 10 out of 11 criminal counts, while former CFO Patrick Halligan was found guilty of all three counts he faced, including fraud and racketeering.