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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.

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.

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.”

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.

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.

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.”

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.

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.

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.

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.

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.

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.

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.”

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