The Latest

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    Fed, FDIC, OCC update guidance on third-party risk management

    Regulators described the new guidance as “principles-based,” which can be adjusted to the unique circumstances of each third-party relationship.

  • Businessman standing on open roof top balcony watching city night view
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    Adobestock.com/jamesteohart

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    Sponsored by EY

    How banks can fix broken FinTech partnership models

    Banks that embrace a structured framework to guide strategy development and execution can improve their odds of partnership success.

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    Mario Tama via Getty Images
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    Morgan Stanley, JPMorgan consider cutting ties with hedge fund

    The move comes after the Financial Times published a report in which 13 women accused financier Crispin Odey of misconduct. The U.K.'s Financial Conduct Authority is investigating.

  • Binance CEO Changpeng Zhao on stage
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    The image by Piaras Ó Mídheach/Web Summit via Sportsfile is licensed under CC BY 2.0
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    Binance court filings shed light on relationship with failed banks, Gensler

    The now-SEC chief offered to serve as a Binance advisor in 2019, Binance's legal team alleges. The filing also details billions of the exchange’s dollars funneled through Silvergate and Signature.

  • Person using AI-generated chatbot
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    ipuwadol via Getty Images
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    Banks’ use of chatbots could reduce trust, CFPB warns

    “A poorly deployed chatbot can lead to customer frustration ... and even violations of the law,” the bureau’s director, Rohit Chopra said Tuesday.

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    Mario Tama via Getty Images
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    Morgan Stanley M&A chief to jump back to big law

    Rob Kindler, a 17-year veteran of the bank who played crucial roles in the E*Trade and Eaton Vance acquisitions and the sale of a minority stake of Morgan Stanley to MUFG, will join law firm Paul Weiss after Labor Day.

  • An American flag flies in front of the Capital One logo at the bank's headquarters.
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    Win McNamee via Getty Images
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    Capital One acquires digital concierge service Velocity Black

    The bank’s “entrepreneurial spirit and customer-first, tech-led culture align beautifully” with Velocity Black, the startup’s CEO said.

  • ftx ceo john ray at house hearing
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    Screenshot, House Financial Services Committee YouTube

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    FTX’s legal team has its hands full

    The bankrupt crypto exchange is fighting court battles on multiple fronts, and former CEO Sam Bankman-Fried’s attorneys say the U.S. government is overdue to supply evidence in its case against him.

  • Downtown Albuquerque, New Mexico.
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    halbergman via Getty Images
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    New Mexico credit union to buy Western Heritage Bank

    The transaction, for an undisclosed sum, will give $4 billion-asset Nusenda Credit Union six added branches and a presence in Texas, as four of Western Heritage’s locations are in El Paso.

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    Getty Images/Staff via Getty Images
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    Brightflow AI acquires CircleUp fintech

    With the deal, Brightflow AI boosts its SMB financial insights tool with CircleUp's Helio insight engine, which tracks 1.6 million consumer brands over 200 data sources.

  • An image of Greystone CEO Gaye Erkan
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    GlobeNewsWire

    https://www.globenewswire.com/en/news-release/2022/06/27/2469596/30865/en/Greystone-Appoints-Hafize-Gaye-Erkan-as-CEO.html

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    Column

    Central bank role would make ex-First Republic exec’s career path make sense

    Once the heir apparent at First Republic, Hafize Gaye Erkan stunned the bank by hopping to a client — then leaving that job three months later. But she didn't have to bow to JPMorgan.

  • A Wells Fargo bank signage is seen on Broadway on December 20, 2022 in New York City.
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    Michael M. Santiago via Getty Images
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    Investors urge judge to advance Wells Fargo diverse hiring lawsuit

    Following a New York Times report that alleged employees were conducting sham interviews, shareholders claim the bank assured investors that its diverse hiring policy was working.

  • coinbase app
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    Permission granted by Coinbase
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    SEC sues Coinbase as federal crackdown on crypto continues

    Coinbase was accused Tuesday of operating an unregistered national securities exchange, broker and clearing agency. The SEC also took aim at its staking-as-a-service program, a day after suing crypto firm Binance.

  • Exterior of the Federal Reserve building in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    Banks could face 20% capital buffer increase: report

    The largest increases are expected to fall on lenders with big trading operations, and those who rely heavily on fee income, sources told The Wall Street Journal.

  • Binance CEO Changpeng Zhao on stage
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    The image by Piaras Ó Mídheach/Web Summit via Sportsfile is licensed under CC BY 2.0
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    SEC charges Binance, CEO Zhao with 13 violations

    The regulator alleged high-value U.S. customers were secretly allowed to trade on Binance platforms after the company said otherwise, and that controls allowed customers’ funds to commingle.

  • Illustration with a dollar sign in the middle and a circle around it with what looks like circuitry board lines running to it.
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    Chor muang via Getty Images
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    CBDC ecosystem risks fragmentation, trade group says

    A set of common rules and standards, allowing for interoperability between public and private blockchains, would be crucial to building an international system, the Faster Payments Council said.

  • Cryptocurrency bitcoin token
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    Dan Kitwood via Getty Images
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    Republicans draft crypto legislation

    The discussion draft, which largely addresses how digital assets can be defined as commodities, represents the most significant federal legislative development in the crypto sphere this year.

  • People enter and exit UBS Bank in NYC.
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    Chris Hondros via Getty Images
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    UBS could close Credit Suisse deal next week

    The Swiss bank may delay its second-quarter results until the end of August to give investors a clearer update on its plans for Credit Suisse’s domestic business, the Financial Times reported.

  • m&a handshake
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    Natalie Meepian via Getty Images
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    Alabama credit union to buy SunSouth Bank

    After the transaction, All In Credit Union will have $3 billion in assets and 33 locations across the state's southeast and the Florida Panhandle.

  • the exterior of the federal reserve building in washington, dc
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    crbellette via Getty Images
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    Fed issues consent order to Silvergate to ensure wind-down

    Silvergate must submit a self-liquidation and wind-down plan within 10 days to the central bank and California’s Department of Financial Protection and Innovation.

  • The Department of Justice in Washington, D.C.
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    Drew Angerer via Getty Images
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    Pennsylvania lender to pay more than $3M in DOJ redlining settlement

    ESSA Bank & Trust’s president signaled the bank’s cooperation but said ESSA “did not receive a single fair lending complaint from any customer or potential customer” during the time in question.

  • First Republic Bank logo
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    Spencer Platt via Getty Images
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    JPMorgan Chase to close 21 First Republic branches

    Roughly 100 employees will be offered six-month transition assignments, Reuters reported. About 60% of First Republic branches are a five-minute walk from a Chase location, according to Bloomberg.

  • cryptocurrency graphic
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    Dan Kitwood via Getty Images
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    TD’s Cowen shuts down crypto unit

    Cowen had launched digital asset services in March 2022. An email seen by Bloomberg indicated May 31 was “the last day” for the unit and its 10 employees.

  • A stock ticker scrolls behind a Goldman Sachs banner at the stock exchange
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    Chris Hondros via Getty Images
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    Goldman Sachs’ playbook for keeping innovation alive

    The investment bank's technology fellowship program allows engineers to advance into tech leadership roles.

  • Entrance to CFPB building
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    The image by Ted Eytan is licensed under CC BY-SA 2.0
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    CFPB orders OneMain to pay $20M over add-ons, delinquent refunds

    Some customers were led to believe that signing up for an add-on product was imperative to receive a loan, the CFPB said.

  • A Wells Fargo bank signage is seen on Broadway on December 20, 2022 in New York City.
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    Michael M. Santiago via Getty Images
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    Wells Fargo ex-exec Tolstedt to pay $5M to SEC

    Tolstedt publicly endorsed Wells Fargo’s “cross-sell metric” as a measure of success, including at investor conferences, despite knowing figures were distorted by bankers opening unauthorized accounts, the agency said.