The Latest

  • The Federal Reserve building at sunset.
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    Fed releases 2025 stress test scenarios

    The stress test, which will include 22 banks compared to last year’s 32, will feature two added hypothetical elements for the Fed’s “exploratory analysis” of the banking system.

  • Sen. Elizabeth Warren (D-MA) speaks during a Senate Banking, Housing, and Urban Affairs committee hearing on January 11, 2024 in Washington, DC.
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    Kent Nishimura via Getty Images
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    Senate panel grapples with who’s to blame for de-banking

    “This shouldn’t be happening, and we need to figure out why and who is responsible,” Sen. Elizabeth Warren, D-MA, said during Wednesday’s hearing examining the impacts of de-banking.

  • A blue sign with white lettering reads "GM."
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    Mario Tama / Staff via Getty Images
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    GM subsidiary resubmits ILC charter application

    GM Financial withdrew its application in June after a 3½-year wait – perhaps in anticipation of eased regulation under a Trump administration.

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    Cushion shutters after 8 years

    The fintech, previously valued at over $82 million, has wound down, founder Paul Kesserwani wrote on LinkedIn last week.

  • Shot of a person typing on a laptop
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    nCino taps chief product officer as CEO

    Sean Desmond succeeded Pierre Naudé, the firm’s chairman and CEO of 13 years, to become the next chief executive.

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    Dan Kitwood via Getty Images
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    Coinbase calls on regulators to clarify crypto-bank rules

    Banks that pursued crypto “were almost universally met with resistance” from the FDIC, the agency’s acting chair, Travis Hill, said Wednesday.

  • Digital Money Transfer
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    CFPB fines Wise $2.5M over remittance violations

    In one of the bureau's final actions under former Director Rohit Chopra's leadership, the CFPB said Wise misled customers in the U.S. about fees and failed to make other required disclosures.

  • Pedestrians pass by a Wells Fargo bank branch.
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    Michael M. Santiago via Getty Images
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    Fed terminates 2 Wells Fargo consent orders

    Both orders were issued in 2011 and address mortgage business issues. Wells has resolved nine consent orders since 2019, and five remain, the bank said.

  • Legal finance
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    OCMBC appoints new president after exec is charged with murder, DUI

    Serene Vernon has been placed on leave following a vehicle accident that left a man dead Friday. John Hamel has replaced her as president.

  • OCC
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    Retrieved from OCC.
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    OCC dings Ohio, Illinois banks on CRA ratings

    The regulator issued “needs to improve” ratings to First Federal Savings & Loan Association of Lorain, Ohio, and United Trust Bank in Palos Heights, Illinois.

  • CFPB Director Rohit Chopra
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    Kent Nishimura / Stringer via Getty Images
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    Chopra leaves CFPB in widely expected move

    President Donald Trump designated Treasury Secretary Scott Bessent as the bureau’s acting chief, according to a statement posted to the agency’s website.

  • A Banco Santander's logo is seen at a bank's branch before a news conference to announce the 2019 results on January 29, 2020 in Boadilla del Monte, in Madrid, Spain.
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    Pablo Blazquez Dominguez via Getty Images
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    Santander names next US CEO

    Christiana Riley’s appointment is part of a greater restructuring, a source told Reuters. Her appointment was announced by Executive Chair Ana Botin on LinkedIn.

  • The exterior of a Citizens Bank is pictured.
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    Kate Tornone/Banking Dive
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    Citizens chief experience officer to retire

    Beth Johnson, who’s held key leadership roles at the bank for 11 years, will step down in March. The bank is hiring for a new senior executive role overseeing an expanded corporate strategy function.

  • Russian President Vladimir Putin speaking at a podium with a microphone.
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    Goldman gets Putin’s approval to sell Russia business

    Armenian investment firm Balchug Capital has been approved to buy the unit for an undisclosed sum, nearly three years after Goldman pledged to exit Russia.

  • Wells Fargo CEO Charlie Scharf
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    Wells Fargo raised Charlie Scharf’s pay to $31.2M in 2024

    The bank’s board credited the CEO for returning $25 billion to shareholders last year and keeping a focus on risk and control infrastructure, which it called the company’s “number-one priority.”

  • A close-up shot of President Donald Trump speaking.
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    Joe Raedle via Getty Images
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    What’s coming for the banking industry in 2025

    Banking Dive takes a look at several trend areas — from M&A to regulation — to give its best guess on developments to come this year. But as observers in the ESG sector will tell it, change has been rapid and thorough.

  • Two business people are signing contract.
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    simarik via Getty Images
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    Deep Dive

    Banking sector girds for M&A uptick in 2025

    Bank M&A rebounded in 2024, with six deals over $1 billion announced. The Fed approved the two largest before the Trump administration took office. But where to go from here?

  • 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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    Trump-era CFPB has full plate following Chopra’s flurry of activity

    As Republicans mull unwinding Biden-era CFPB policies, Chopra’s strategy seems to have been “to make that as hard as possible by making the list as long as possible,” said a panelist during a Thursday webinar.

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    Woman alleges Flagstar rolled her money into a ‘zombie CD’

    After a 14-month CD matured, the bank put the Florida customer’s funds into a new CD paying 0.02% interest through 2044, a lawsuit claims.

  • The Wall Street sign in the Financial District of Lower Manhattan in New York City.
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    hapabapa via Getty Images
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    Why climate alliance memberships are no longer ‘en vogue’ for Wall Street

    Financial institutions have increasingly departed groups like the Net-Zero Banking Alliance and Climate Action 100+, but experts say banks are still committed to sustainability.

  • A sign reads "New York Community Bank" and "A division of Flagstar Bank, N.A., Member FDIC"
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    Spencer Platt / Staff via Getty Images
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    Flagstar to close roughly 60 retail branches this year

    The bank also aims to shutter 20 private-client retail locations as part of its efforts to cut $600 million in costs in 2025, CFO Lee Smith said Thursday.

  • Sen. Ted Cruz, wearing a blue suit, adjusts his tie while he speaks.
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    Drew Angerer via Getty Images
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    Cruz reignites effort to defund CFPB

    Sen. Ted Cruz, R-TX, introduced a bill (again) to that effect Wednesday, calling the agency “unelected” and “unaccountable” and its regulations “burdensome and harmful.”

  • 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 investment bank co-CEO to retire

    Jon Weiss, who led the unit with Fernando Rivas, will step down and Rivas will become the sole CEO of the lender’s corporate and investment bank, the company said.

  • Jerome Powell
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    Column

    Dive Deposits: Trump picks the most public moments to knock luminaries

    The president bashed Jerome Powell on inflation less than two hours after the Fed chair announced interest rates would stay put. As Bank of America CEO Brian Moynihan may attest, Trump’s timing is not coincidental.

  • A JPMorgan Chase logo stands in front of a building on a city street.
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    subman via Getty Images
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    How JPMorgan Chase’s infrastructure chief keeps the AI engine humming

    The bank is sourcing some resources five to 10 years out, said Darrin Alves, CIO of infrastructure platforms.