The Latest
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Spencer Platt via Getty Images
Amalgamated Bank names its next CEO
Priscilla Sims Brown, now group executive of marketing and corporate affairs at Commonwealth Bank in Australia, negotiated and managed stadium naming rights with the NFL's Miami Dolphins while working at Sun Life Financial.
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Permission granted by Office of the Comptroller of the Currency
New OCC chief vows focus on climate change, disproportionate impact of pandemic
Acting Comptroller Michael Hsu also said he would review key regulatory standards but did not mention any by name, and warned that "complacency about risk-taking" is a growing supervisory concern.
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Alex Wong via Getty Images
FDIC fines Umpqua Bank $1.8M over subsidiary's debt, fee collection practices
The Oregon-based bank also paid more than $1.6 million in restitution to 16,902 customers in the settlement announced Monday.
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Chris Hondros / Staff via Getty Images
JPMorgan tech exec promotions show modernization plans, data priorities
James Reid and Melissa Goldman will move to their new positions as the bank prepares to reopen its U.S. offices.
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DOJ reportedly investigating Kabbage, fintech lenders, over PPP loans
Some fintechs' use of automated lending platforms with few manual checks caused errors to be replicated across thousands of loans, one source said.
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Courtesy of Green Dot
'We cannot stay still': Inside Green Dot's path to BaaS growth
The Pasadena, California-based company has made a name for itself as a financial services enabler for some of the nation's biggest brands. But competition in the space could create new headwinds.
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Fotolia
Traditional banks mirror challengers with new digital offerings
"There's a story behind every one of these kinds of overdrafts," said Jimmy Stead, chief consumer banking officer at Frost Bank, which launched an overdraft grace feature last month.
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Courtesy of Wells Fargo multimedia resources
Wells Fargo, U.S. Bank disclose CFPB investigations
The former's acknowledgment relates to monthly service fees the bank has vowed since 2019 to refund to affected customers.
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Justin Sullivan via Getty Images
Citi sits on the cusp of a crypto push
The bank, however, won't make any rash decisions on digital asset offerings. "This isn't a space race," Itay Tuchman, Citi's head of global foreign exchange, told the Financial Times. "There is room for more than just one flag."
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Jack Taylor / Stringer via Getty Images
Cryptocurrency fuels ransomware payments. Without regulation, it could get worse
The rapid ascent of crypto, like other emerging technologies before it, has far outpaced the federal government's ability to regulate it.
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California regulator orders Chime to stop calling itself a bank
The fintech has until May 15 to revise its website and advertising in accordance with the California regulator's order and has until June 15 to perform quality control and testing of the changes.
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Anna Hrushka/Banking Dive
Fed strikes balance between openness, caution toward nonbanks
The central bank issues guidance for fintechs seeking a charter, while its chair advocates for expanding the CRA to encompass all lenders.
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Maddie Meyer via Getty Images
Inside Boston's turn as ground zero for M&A in 2021
Geographic expansion and desire for scale have spurred four deal announcements in as many months around New England's hub.
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Permission granted by Office of the Comptroller of the Currency
Yellen names Fed's Hsu as acting OCC chief
Michael Hsu is set to become acting comptroller Monday, the Treasury Department said in a release Friday. He'll be the OCC's third acting chief in the past year.
UPDATED: May 7, 2021 at 9:57 a.m. -
Alex Wong via Getty Images
PPP runs out of funds for most lenders
About $8 billion remains available through MDIs and CDFIs, the Small Business Administration told banking trade groups Tuesday. But the portal has largely stopped accepting applications, the American Bankers Association said.
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Jack Taylor / Stringer via Getty Images
Cryptocurrency startup Ripple hires new CFO amid SEC lawsuit
Kristina Campbell spent five years as CFO of billing and payments firm PayNearMe and, previously, served in various operations and management roles at fintech Green Dot.
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Permission granted by Workers Credit Union
Massachusetts credit union blends tech, financial-coaching focus
Workers Credit Union's latest branches feature interactive holograms, video ATMs — and employees aiming to de-stigmatize money.
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Chris Hondros via Getty Images
As Goldman rolls out June 14 office return, JPMorgan's Dimon stiffens stance
Working exclusively from home "doesn't work for young people," Dimon said. "It doesn't work for those who want to hustle. It doesn't work for spontaneous idea generation. It doesn't work for culture."
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Alex Wong via Getty Images
Special inspector general stripped of PPP oversight
At issue is the Treasury Department's reluctance to share data with SIGPR regarding participants in the Coronavirus Relief Fund and the Payroll Support Program.
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FDIC bans former Bank of the West banker over loan fraud
The regulator said Mark Wong made fraudulent loans in the names of bank customers without their authorization or knowledge while serving as a vice president and business banking officer at the BNP Paribas subsidiary.
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Permission granted by Quontic Bank
How Quontic Bank adapts to crypto, remote work and wearable tech
Since purchasing the institution in 2009, CEO Steven Schnall, an entrepreneur and former mortgage banker, has been molding the bank to reflect his vision.
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Chip Somodevilla via Getty Images
Biden plan would boost bank data sharing with IRS
The effort would require banks and P2P payment services to report annual account inflows and outflows to the IRS in an attempt to capture up to $460 billion in unpaid taxes, mostly from businesses.
