The Latest
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CFTC asks judge to vacate $5M Gemini penalty
A onetime CFTC chair nominee alleged Gemini’s founders grilled him on the case, then lobbied the White House to stall his nomination.
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OCC cites AML deficiencies at NY bank that partners with fintechs
New York City-based Community Federal Savings Bank, a partner to Wise and Crypto.com, faces an enforcement action over what the regulator deemed an inadequate suspicious activity alert system.
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JPMorgan CEO: AI may create things ‘we’re going to lose at’
Jamie Dimon also indicated Wednesday the top U.S. bank is “on the lookout” for acquisitions and sees “a chance to put $10 [billion] or $20 billion to work buying something.”
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LendingClub CEO expects ‘skinned knees’ amid fintech charter rush
Fintechs that want to become banks should brace for “a learning curve” as they ramp up governance, risk and compliance infrastructure, said LendingClub CEO Scott Sanborn.
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Courtesy of American Hotel & Lodging Association
California judge rules in favor of OppFi, against regulator
A judge ruled that OppFi sufficiently demonstrated that its banking partner was the true lender of OppLoans, and that their relationship wasn’t a “rent-a-bank ruse.”
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Coinbase rolls out refreshed direct-deposit feature
The crypto exchange raised its ceiling on deposit limits, but the Clarity Act’s restrictions on passive stablecoin earnings may present a challenge.
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Ohio’s Northwest Bank taps Wells Fargo alum as CIO
Chad Ballard brings 25 years of IT experience to the $17 billion-asset Ohio-based bank.
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Regions to pay DOJ $4.9M over PPP loan allegations
Although it disagreed with the claims, the bank said it settled with the Justice Department this month “with the goal of closing this chapter and moving on.”
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Goldman chief of staff to leave bank in June
Russell Horwitz, a nearly two-decade alum of the bank, will become an advisory director once he departs, according to a memo.
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Wells Fargo’s $85M ‘sham’ diversity settlement gets judge’s approval
The bank a week earlier agreed to pay $110 million to resolve a class-action lawsuit related to similar issues.
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Fed, FDIC give green light to biggest US banks’ living wills
JPMorgan Chase, Bank of America, Citi and Goldman Sachs, additionally, have “adequately addressed” shortcomings found in the banks’ previous emergency wind-down plans, the agencies said Friday.
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Goldman Sachs to pay shareholders $500M in 1MDB settlement
“The settlement is an outstanding result for the class,” attorneys for Sjunde AP-Fonden, a Swedish pension fund, wrote in the filing.
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Morgan Stanley exemption comes under fire
Sen. Elizabeth Warren, D-MA, asked three regulators to revoke their approval of a Morgan Stanley restructuring, drawing parallels to scandals that engulfed JPMorgan Chase and Citi.
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StanChart CEO apologizes over ‘lower-value human capital’ comment
CEOs from JPMorgan Chase, HSBC and Barclays added their takes to polarizing remarks by StanChart chief Bill Winters, in explaining his bank's increasing embrace of AI.
Updated May 22, 2026 -
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CFPB erases pre-Trump 2.0 history
The consumer watchdog eliminated dozens of press releases, speeches and public statements Tuesday, all of which were published before February 2025.
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Anna Moneymaker / Staff via Getty Images
OCC’s Gould justifies conditional trust charter approvals
“We don’t have a zero risk tolerance anymore,” the comptroller said at an event May 20, adding that “a reasonable chance of success” is “how we evaluate applications.”
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Andrew Harnik / Staff via Getty Images
Regulators float changes to CAMELS ratings
The move to revamp the bank ratings framework for the first time in 30 years continues Trump-appointed bank regulators’ efforts to concentrate supervision on material financial risk.
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Spencer Platt / Staff via Getty Images
Flagstar extends CEO Otting’s tenure but sets up succession race
The bank named CFO Lee Smith and commercial- and private-banking chief Richard Raffetto as co-presidents but is keeping Joseph Otting at the helm until March 2028.
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Permission granted by Bitcoin Depot
Bitcoin Depot files for bankruptcy as crypto ATMs go offline
Alex Holmes, who has led the company since March, cited “stringent compliance obligations” from states, increasing litigation and tougher transaction limits.
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California fines Yotta $1M as customers are still out millions
Some customers expressed disappointment at the penalty amount, with one calling it the size of a “nominal rounding error.”
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Warren demands national trust charter details from Gould
National trust charters have been awarded to firms that “intend to engage in activities that appear to go far beyond the narrow set of activities permitted by law,” the Democratic senator told the head of the OCC.
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Andrew Harnik via Getty Images
Trump order seeks to open Fed rails
The administration mandated a review of how the Federal Reserve and other agencies can aid fintech firms through greater central bank access.
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Justin Sullivan / Staff via Getty Images
Wells Fargo agrees to $110M lending, hiring discrimination settlement
The bank’s borrower assistance fund “represents a meaningful step toward expanding equitable access to financial services,” a judge wrote.
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Alex Wong / Staff via Getty Images
Chime CEO: Pursuing bank charter is ‘a when, not if’
The fintech regularly reevaluates the potential timing of an inevitable push for a charter, Chime CEO Chris Britt said Monday, as regulators see an influx of applications.
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Matthew Lloyd via Getty Images
StanChart eyes more than 7,800 job cuts by 2030 in AI embrace
The London bank aims to boost income per employee by 20% – and will reduce risk management, compliance and HR roles as part of that effort.
