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CFPB defends analysis behind 90% job cuts
A 200-person workforce would allow the bureau to fulfill statutory obligations “and better aligns with the new leadership’s priorities and management philosophy,” attorneys for the agency said.
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Banks gear up to boost cybersecurity, cloud and data spending
In the race to scale generative AI capabilities, executives plan to increase foundational technology investments, according to Broadridge.
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FDIC scraps some large bank living will requirements
Instead of requiring a bridge bank strategy, the FDIC wants large banks to describe one or more potential resolution strategies the regulator could execute, it said Friday.
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Banks must fight deepfakes with better AI, Barr says
One in 10 companies have been targeted in deepfake scams. Banks, on the front lines of fraud detection, must rise to the occasion with better AI tools, according to Fed Gov. Michael Barr.
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Column
Dive Deposits: The OCC’s supervision streamlining may have been lost in the shuffle
The agency combined an office overseeing large banks with another looking after midsize and community banks. But merger news and big drama at the CFPB seemingly dwarfed the OCC developments.
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Lazard hires ex-House Financial Services panel chair
Former Rep. Patrick McHenry, R-NC, will join the bank Wednesday as a senior adviser on public policy, financial services, fintech and artificial intelligence matters.
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Citi eyes AI productivity gains as it consolidates data systems
“I’m not sure any bank finishes its modernization,” CEO Jane Fraser told investors during an earnings call last week.
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Capital One-Discover deal gets nod from Fed, OCC
Regulators, however, handed Discover several consent orders. Most notably, the FDIC ordered the company to distribute $1.225 billion in restitution to customers overcharged between 2007 and 2023.
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Judge again halts CFPB’s 1,500 layoffs
The bureau sent reduction-in-force notices to roughly 90% of its staff Thursday, with plans to cut off terminated employees’ access to CFPB systems at 6 p.m. Friday. A judge intervened.
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Fed proposes stress-test makeover
The central bank’s proposed changes would reduce year-over-year fluctuations in capital requirements. The regulator also plans to announce further tweaks – around transparency – later this year.
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Trump fires NCUA board’s 2 Democrats
The removal of Todd Harper and Tanya Otsuka may put other regulators at risk, including Fed Chair Jerome Powell, whose termination, the president said Thursday, “cannot come soon enough.”
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CFPB shifts focus away from nonbanks, fair lending cases
An 11-point memo directs the agency’s staff to bring redress directly to affected consumers, “rather than imposing penalties on companies in order to simply fill the Bureau’s penalty fund,” the CFPB’s legal chief wrote.
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Former HSBC exec talks career switch to fintech
HSBC was Episode Six’s second client. The exec who inked the partnership, Brian Muse-McKenney, saw so much promise in the fintech’s offerings that he jumped ship from the C-suite to join it.
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Inside Regions’ effort to upskill its SMB, mass-affluent bankers
The regional lender is honing the way a group of its bankers manage small-business customer relationships as competition rises in the Southeast.
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Oregon credit union to buy in-state bank
Salem-based Maps Credit Union’s purchase of Lewis & Clark Bank marks the fourth whole-bank acquisition proposed by a credit union this year.
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Retrieved from OCC.
OCC takes stock of breach as some banks limit info sharing
JPMorgan Chase has stopped sharing information electronically with the agency, a source told Banking Dive. BNY and Bank of America have reportedly done likewise.
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BaaS startup Solid files for bankruptcy
Arjun Thyagarajan, the company's CEO and co-founder, filed for Chapter 11 in a Delaware court, citing “costly litigation” and an inability to raise capital since 2022.
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CFPB’s Vought wants to strip away ‘guidance’ en masse
The bureau’s acting director said the Biden administration used guidance as a substitute for formal regulation and gave eight CFPB offices two weeks to save any previous guidance they deem necessary.
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Bank of America ordered to pay FDIC $540M in risk lawsuit
A judge’s decision, made public Monday, marks the latest development in a yearslong legal fight between the bank and the regulatory agency over the unpaid deposit insurance assessments.
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Edward Jones resubmits ILC charter application
The investment firm originally sought a charter in 2020, but abandoned its efforts in 2022. It still plans to move forward with its retail banking partnership with U.S. Bank this year.
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NY AG sues MoneyLion, DailyPay
The state’s lawsuits seek to wind down the companies' earned wage access practices in New York.
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CFPB drops case against Comerica
The bureau dismissed the case without prejudice – meaning it could refile the lawsuit – setting it apart from other recent dismissals by the Russ Vought-led CFPB.
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Appeals court allows some CFPB firings
The bureau can terminate employees who are determined, after an individualized assessment, to be unnecessary to the agency’s statutory duties, a three-judge panel ruled.
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TD acknowledges ‘darkest day’ in shareholder meeting
The bank’s chair called October’s $3.09 billion settlement “extraordinarily painful.” Investors voted in four new board members Thursday, including Morgan Stanley’s former deputy CFO.
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Ally’s DEI suit dismissed after bank reduces emphasis
America First Legal dropped its lawsuit against Ally Financial after the lender largely scrubbed diversity references from its public filings.
Updated April 28, 2025