The Latest

  • Rohit Chopra looks just off camera as someone else speaks.
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    Drew Angerer / Staff via Getty Images
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    CFPB final rule would pin overdraft fee at $5

    Banks and credit unions with $10 billion or more in assets could alternately choose a break-even overdraft protection cost or make credit card-like disclosures to consumers, 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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    Nonbranch Wells Fargo workers vote to unionize

    A group of conduct management investigators spread across the country voted to join Wells Fargo Workers United. The National Labor Relations Board certified the vote Tuesday.

  • Rohit Chopra, Director of the Consumer Financial Protection Bureau, giving a speech in an auditorium.
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    Anna Moneymaker via Getty Images
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    CFPB’s Chopra sidesteps resignation question

    When asked by lawmakers whether he would resign Jan. 20, CFPB Director Rohit Chopra said he serves a five-year term but that the president “can remove us at any time.” 

  • Four people walk by a TD bank branch location
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    Joe Raedle / Staff via Getty Images
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    Ex-TD employee charged in money laundering case

    Leonardo Ayala, 24, issued dozens of debit cards linked to accounts opened by another TD employee in the names of shell companies, and received bribes for that work, the Justice Department alleged.

  • Wells Fargo CEO Charlie Scharf
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    Drew Angerer / Staff via Getty Images
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    Wells Fargo’s Scharf calls for capital requirements clarity

    The bank’s CEO on Wednesday called uncertainty around how much extra capital banks will be required to hold “a crazy way to run a system.”

  • PNC CEO Bill Demchak
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    Drew Angerer/Getty Images via Getty Images
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    PNC’s Demchak: De-regulation clamor is overblown

    “I think people are a little bit too excited … that they’re just going to let everybody run free here,” the Pittsburgh bank's CEO said. “I don’t see that at all.”

  • Coinbase
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    Courtesy of Coinbase
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    FDIC letters give credence to ‘Choke Point 2.0’ claims: Coinbase CLO

    The agency asked nearly two dozen banks to pause crypto-related activity in 2022, according to letters unveiled via Coinbase’s FOIA requests.

  • Legal finance
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    matt_benoit via Getty Images
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    Evolve seeks dismissal of Yotta lawsuit

    Yotta sued its partner bank Evolve in September, four months after its customers were locked out of millions of dollars in funds in connection to middleware firm Synapse’s bankruptcy.

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    Daniel Berehulak via Getty Images
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    UBS, Barclays diverge on whether to chase US wealth

    Barclays indicated the U.S. is “not a priority” in its plan to expand in wealth management. For UBS, which detailed its own realignment Tuesday, stateside mass-affluent wealth is a great white whale.

  • Shot of two businessmen shaking hands in an office
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    Gen Digital to acquire MoneyLion in $1B deal

    Gen, the global parent firm of cyber safety brands Norton and Avast, will pay $82 per share in cash to add the consumer finance fintech to its roster.  

  • Bank of America signage is shown with a reflection in the glass above it
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    Spencer Platt / Staff via Getty Images
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    BofA corporate client app surpasses $1 trillion in payments

    Payments approved over the app are expected to rise 25% this year, echoing a similar increase last year over 2022.

  • The Morgan Stanley sign is seen at the entrance of a building.
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    Stephen Chernin via Getty Images
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    Morgan Stanley to pay $15M over theft by now-former employees

    The bank failed to detect “hundreds” of instances when brokers misappropriated client funds through unauthorized Automated Clearing House transfers, the SEC said.

  • Reflective image of Citibank branch exterior facade, located in Manhattan, NYC.
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    GCShutter via Getty Images
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    Citi CFO: Evolving data standards make upgrade more complex

    Mark Mason, the bank’s finance chief, also said the focus on the need to improve data tied to regulatory reporting isn’t unique to Citi.

  • 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 exits Net-Zero Banking Alliance

    The bank said it would remain “focused on the increasingly elevated sustainability standards and reporting requirements imposed by regulators around the world.”

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    Maddie Meyer via Getty Images
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    Massachusetts banks to combine in $562M deal

    The transaction, expected to close in the second half of 2025, will create a $25 billion-asset entity and enable Independent Bank to enter New Hampshire.

  • A newer PNC branch is shown, with "PNC" signage on the exterior of the building.
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    Courtesy of PNC
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    Q&A

    PNC leans into branch staff with hospitality industry roots

    “It’s a mindset,” one executive said. “We want people that are client advocates, that can drive the hospitable environment that we’re looking for, but also have the intellect, the curiosity to help.”

  • A building is shown with a sign that reads, "Comerica Bank" in the foreground
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    Courtesy of Comerica
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    CFPB sues Comerica for ‘systematically failing’ federal benefits recipients

    The watchdog, which Comerica sued last month over its “costly” investigation, alleged the bank intentionally dropped 24 million customer service calls and charged illegal ATM fees.

  • Paris, France
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    Kiran Ridley via Getty Images
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    Could a French bank foil UniCredit’s play for Banco BPM?

    Crédit Agricole boosted its stake in BPM — borrowing a strategy UniCredit used on Commerzbank. The French bank insists it doesn’t aim to buy BPM. The Italian government seems OK with that.

  • The exterior of a Citizens Bank is pictured.
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    Kate Tornone/Banking Dive
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    Citizens tweaks features, eyeing deeper ties to customers

    Recent upgrades to the super-regional’s digital experience are aimed at fueling primacy with clients, a Citizens executive said, as banks vie to be their customers’ No. 1.

  • A sign reads "Citibank" in a branch window, which reflects an American flag and taxi cabs on the street.
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    Michael M. Santiago / Staff via Getty Images
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    Column

    Dive Deposits: Citi begins December with a data dump

    The bank’s split of Mexican operations was just the beginning. There were also 344 promotions to managing director, a high-profile exit, an AI rollout and a block-trade stumble.

  • Rohit Chopra, Director of the Consumer Financial Protection Bureau, giving a speech in an auditorium.
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    Anna Moneymaker via Getty Images
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    OIG finds CFPB lacks consistency in oversight transition

    The watchdog’s office of the inspector general found that regional CFPB offices were inconsistent, and often slow, in the time they took to onboard banks coming under its oversight.

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    Drew Angerer / Staff via Getty Images
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    TD shelves growth targets in wake of AML settlement

    The embattled Canadian lender is undergoing a strategic review of its priorities and opportunities. “Everything is on the table,” said Raymond Chun, the bank’s current COO who will take the CEO reins in April.

  • A bicyclist rides by a Wells Fargo bank branch in San Francisco, California
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    Justin Sullivan / Staff via Getty Images
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    Wells Fargo to lay off hundreds in Oregon

    The Hillsboro and Salem offices, with 500 and 221 employees, respectively, might be impacted by the lender’s decision to pull out of these locations, according to a WARN notice filed Tuesday.

  • Financial services
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    Justin Sullivan / Staff via Getty Images
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    HSBC names new US CEO

    Lisa McGeough will step into the role Jan. 1. Meanwhile, Annabel Spring will depart from her role as global private banking and wealth CEO.

  • A customer accesses a banking app on their phone.
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    Supatman via Getty Images
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    First National Bank of Omaha’s online-only bank shuts abruptly

    Milli Bank, the online-only banking platform of FNBO, said last month it had closed its doors, without citing a reason.