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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    Trade groups challenge CFPB’s open banking rule on Day 1

    Liability over data security emerges as a top concern as the Bank Policy Institute and a Kentucky trade group and bank sue the bureau, arguing overreach.

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    Huntington CFO sees acceleration of fintech venture opportunities

    Declining interest rates are opening the gateway for a “regrowth” of funding activity, said Zachary Wasserman, CFO of the Columbus, Ohio-based bank.

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    SoLo Funds hit with lawsuit over ‘tips,’ ‘donations’ features

    The proposed class action filed last week in a California federal court alleges the fintech misleads borrowers with advertising that deceptively claims to offer zero-interest loans and no hidden fees.

  • 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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    CFPB issues final rule on open banking

    Payment apps are included in the data-control rule, in a change from last year’s proposal. Banks and credit unions with less than $850 million in assets are exempt.

  • Pam Kaur, CFO of HSBC
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    HSBC names first woman CFO amid restructuring

    The bank is simplifying its business into four spheres, but the changes will mean inevitable reductions for "duplicated" senior roles, CEO Georges Elhedery warned.

  • 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 debuts digital bank in US

    With Openbank, already established in Europe, the lender aims to accelerate its U.S. growth strategy by generating more deposits to fund its auto lending.

  • The Department of Justice in Washington, D.C.
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    Drew Angerer via Getty Images
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    Truist to pay $9.1M over lead poisoning payouts

    Truist predecessor SunTrust approved disbursements that weren’t in the best interests of beneficiaries of trust accounts linked to a lead poisoning settlement, the Justice Department said.

  • A closeup of JPMorgan Chase's headquarters in New York.
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    Michael M. Santiago via Getty Images
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    JPMorgan hires NOAA climate scientist to lead climate advisory practice

    Sarah Kapnick rejoins the bank after a stint as the National Oceanic and Atmospheric Administration’s presidentially appointed top scientist.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    Oklahoma bank fails, in-state peer buys insured deposits

    Alleged "fraud" is believed to be behind the First National Bank of Lindsay's failure, the second U.S. bank collapse this year. The FDIC’s Deposit Insurance Fund will take a roughly $43 million hit.

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    Atlantic Union Bank to buy Sandy Spring in $1.6B deal

    The acquisition would give the Virginia lender’s footprint the “Golden Crescent” it has sought for years, with 53 added branches in the D.C. area and Maryland, roughly doubling its wealth business.

  • A piece of paper shows columns of figures, with a calculator and pen sitting atop the paper.
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    Creative via Getty Images
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    Synapse-related funds to be disbursed soon, Evolve says

    Customers who are owed money will be asked to choose a payment method Nov. 4, with payments beginning “shortly thereafter,” the bank said Saturday.

  • Fiserv headquarters in Brookfield, Wisconsin
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    Fiserv may grab competitive edge with new bank charter

    The payments processor can undercut rivals on price because it won’t be paying bank fees, industry consultants say.

  • 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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    NYCB to shrink headcount by 1,900

    The bank cut roughly 700 employees, or 8% of its workforce, it said Thursday, and anticipates shedding another 1,200 when it sells its mortgage servicing and third-party origination business.

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    OCC hits Florida bank over AML concerns

    Maitland-based Axiom Bank agreed to revamp its BSA/AML program and look back at its suspicious activity reporting history.

  • The JP Morgan Chase & Co. company logo is displayed on a screen at the New York Stock Exchange during morning trading on February 23, 2024 in New York City.
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    Michael M. Santiago / Staff via Getty Images
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    JPMorgan Chase leads banking sector in AI adoption: report

    In a tightening race, Capital One gained ground by adding engineering talent, according to Evident research published Thursday.

  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    OCC bans ex-Citi, JPMorgan bankers over fraud, data sale allegations

    In one instance, a banker convicted of prior fraud took her sister’s identity to regain employment at Citi, the OCC said.

  • Federal Deposit Insurance Corp. Chairman Martin Gruenberg sits at a table.
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    Kevin Dietsch / Staff via Getty Images
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    FDIC’s bank failure fund may be repaid ahead of schedule

    The reserve ratio for the Deposit Insurance Fund will reach the statutory minimum level in 2026, ahead of a 2028 deadline, the agency’s staff projected, though that estimate is “subject to uncertainty.”

  • Truist CEO Bill Rogers speaks into a microphone
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    Drew Angerer / Staff via Getty Images
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    Truist CEO: No ‘merger hangover’ with expenses

    As the bank approaches five years since the completion of the SunTrust-BB&T merger, Truist CEO Bill Rogers sought to assure analysts Thursday that it’s on offense rather than defense.

  • adrienne harris talking to senate
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    Anna Moneymaker via Getty Images
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    Banks must be wary of AI security risks, regulator says

    NYDFS Superintendent Adrienne Harris says financial services firms have to keep their cybersecurity measures up to snuff, lest they fall victim to cyber threats.

  • A New York Community Bank branch location is shown
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    Spencer Platt / Staff via Getty Images
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    NYCB rebrands as Flagstar Financial

    The board has approved an amendment to change New York Community Bank’s name to Flagstar Financial, effective Oct. 25.

  • 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 discloses SEC accounting criticism

    The agency disagrees with the way the company is allocating card misclassification charges, Discover said in its third-quarter earnings report.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC greenlights FAA vet to lead ‘professional conduct’ office

    The move comes nearly a year after dozens of employees alleged the agency tolerated rampant sexual misconduct and retaliation in a Wall Street Journal exposé.

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    Courtesy of State Street
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    State Street CFO to leave for S&P Global

    S&P will pay Eric Aboaf a $2.4 million signing bonus when he joins the credit ratings firm in February. He’s also in line for a one-time $5.9 million equity award.

  • Cryptocurrency coins next to a smartphone displaying a chart
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    Jack Taylor via Getty Images
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    Crypto firm Copper hires ex-Goldman exec as new CEO

    Amar Kuchinad will replace the founder and current CEO, Dmitry Tokarev, in a push to drive the crypto custodian’s global growth strategy with a focus on fortifying its U.S. presence.

  • An exterior shot of the Department of Justice building shows the words "Department of Justice" and an American flag flying above.
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    Kevin Dietsch / Staff via Getty Images
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    Fairway to pay $9.9M in redlining settlement

    The lender allegedly discouraged residents of Black-majority neighborhoods from applying for mortgages. Fairway said the complaint “appears to be intentionally inflammatory in nature.”