Regulations & Policy


  • Wells Fargo CEO Charlie Scharf
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    Wells Fargo’s Scharf calls for capital requirements clarity

    The bank’s CEO on Wednesday called uncertainty around how much extra capital banks will be required to hold “a crazy way to run a system.”

    By Dec. 11, 2024
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    Daniel Berehulak via Getty Images
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    UBS, Barclays diverge on whether to chase US wealth

    Barclays indicated the U.S. is “not a priority” in its plan to expand in wealth management. For UBS, which detailed its own realignment Tuesday, stateside mass-affluent wealth is a great white whale.

    By Dec. 11, 2024
  • An AI processor on a futuristic printed circuit board Explore the Trendline
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    da-kuk via Getty Images
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    Trendline

    Artificial intelligence

    Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

    By Banking Dive staff
  • PNC CEO Bill Demchak
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    Drew Angerer/Getty Images via Getty Images
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    PNC’s Demchak: De-regulation clamor is overblown

    “I think people are a little bit too excited … that they’re just going to let everybody run free here,” the Pittsburgh bank's CEO said. “I don’t see that at all.”

    By Dec. 11, 2024
  • A stock ticker scrolls behind a Goldman Sachs banner at the stock exchange
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    Chris Hondros via Getty Images
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    Goldman Sachs exits Net-Zero Banking Alliance

    The bank said it would remain “focused on the increasingly elevated sustainability standards and reporting requirements imposed by regulators around the world.”

    By Zoya Mirza • Dec. 10, 2024
  • Reflective image of Citibank branch exterior facade, located in Manhattan, NYC.
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    GCShutter via Getty Images
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    Citi CFO: Evolving data standards make upgrade more complex

    Mark Mason, the bank’s finance chief, also said the focus on the need to improve data tied to regulatory reporting isn’t unique to Citi.

    By Dec. 10, 2024
  • The Morgan Stanley sign is seen at the entrance of a building.
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    Stephen Chernin via Getty Images
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    Morgan Stanley to pay $15M over theft by now-former employees

    The bank failed to detect “hundreds” of instances when brokers misappropriated client funds through unauthorized Automated Clearing House transfers, the SEC said.

    By Dec. 10, 2024
  • A building is shown with a sign that reads, "Comerica Bank" in the foreground
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    Courtesy of Comerica
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    CFPB sues Comerica for ‘systematically failing’ federal benefits recipients

    The watchdog, which Comerica sued last month over its “costly” investigation, alleged the bank intentionally dropped 24 million customer service calls and charged illegal ATM fees.

    By Dec. 9, 2024
  • Rohit Chopra, Director of the Consumer Financial Protection Bureau, giving a speech in an auditorium.
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    Anna Moneymaker via Getty Images
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    OIG finds CFPB lacks consistency in oversight transition

    The watchdog’s office of the inspector general found that regional CFPB offices were inconsistent, and often slow, in the time they took to onboard banks coming under its oversight.

    By Dec. 6, 2024
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    Drew Angerer / Staff via Getty Images
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    TD shelves growth targets in wake of AML settlement

    The embattled Canadian lender is undergoing a strategic review of its priorities and opportunities. “Everything is on the table,” said Raymond Chun, the bank’s current COO who will take the CEO reins in April.

    By Dec. 5, 2024
  • An illustration of the front of a bank connected to different icons representing digital services.
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    Chor muang via Getty Images
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    Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump

    The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.

    By Dec. 4, 2024
  • whistleblower program, Peirce, Uyeda, confidentiality
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    Trump taps crypto lobbyist to lead SEC

    Trump’s nominee, Paul Atkins, served as a commissioner at the SEC under former President George W. Bush.

    By Alexei Alexis • Dec. 4, 2024
  • The Federal Reserve building is seen January 22, 2008 in Washington, DC. People walk by.
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    Chip Somodevilla via Getty Images
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    FedNow racks up nearly $246M in annual expenses

    The Federal Reserve projects the real-time payment system’s costs will climb slightly next year, from the $245.5 million it expects to spend this year.

    By Lynne Marek • Dec. 4, 2024
  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    Permission granted by Office of the Comptroller of the Currency
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    OCC ends Lake Shore’s breach-related consent order

    The regulator in March 2023 found the bank in “substantial noncompliance” with an agreement to fix IT and risk governance flaws. Lake Shore’s then-CEO resigned.

    By Dec. 4, 2024
  • A skyline of New York City
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    TomasSereda via Getty Images
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    Metropolitan Commercial Bank ‘aided and abetted’ Voyager fraud: lawsuit

    MCB is accused of defrauding customers of crypto exchange Voyager Digital, many of whom have been unable to access their funds since Voyager’s 2022 bankruptcy.

    By Dec. 3, 2024
  • The US Capitol building is pictured February 13, 2021 in Washington, DC.
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    Tasos Katopodis / Stringer via Getty Images
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    GAO report flags Fed, FDIC supervisory ‘weaknesses’

    The government office offered recommendations meant to improve both bank regulators. The OCC, meanwhile, “generally adheres” to its procedures for escalating supervisory concerns, the GAO said.

    By Dec. 2, 2024
  • Coal falls off a conveyor belt onto a larger pile of coal. Multiple mounds of coal can be seen.
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    BlackRock, State Street, Vanguard sued by Texas, red states

    The three firms are accused of forming “a cartel to rig the coal market,” but State Street and BlackRock called the lawsuit “baseless” in separate statements.

    By Lamar Johnson • Dec. 2, 2024
  • An equestrian statue of Roman emperor and stoic philosopher Marcus Aurelius on Capitoline Hill in Rome, Italy.
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    PaoloGaetano via Getty Images
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    BPM spurns UniCredit’s takeover bid

    The bank blasted what it sees as a weak premium. Its CEO warned a deal would cost BPM 6,000 jobs. And Italian officials expressed concern that a UniCredit tie-up would stall efforts to grow BPM.

    By Nov. 27, 2024
  • Elon Musk X
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    Musk calls for end to CFPB

    The presumed Trump Cabinet appointee said there “are too many duplicative regulatory agencies,” calling out the consumer watchdog specifically Wednesday.

    By Nov. 27, 2024
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    Q&A

    FDIC: New tool highlights opportunities for minority banks

    Wearing its “preserve and promote” hat, the banking agency launched a tool this month that reveals neighborhoods that may present opportunities for minority-focused banks.

    By Nov. 27, 2024
  • A blue sign with white lettering reads "GM."
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    Mario Tama / Staff via Getty Images
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    Trump 2.0 expected to open the ‘regulatory gates’ for chartering

    “Fintech had really just become kind of a dirty word during the Biden administration, and that’s going to change,” said Michele Alt, an OCC veteran and co-founder of financial services advisory firm Klaros Group.

    By Nov. 27, 2024
  • The sign reads "howdy stranger yonder is Jackson Hole, last of the old west. On top of Teton Pass Wyoming
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    TenleyThompson via Getty Images
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    Custodia takes a step back ahead of Trump term

    The Wyoming bank, long embattled with the Federal Reserve, aimed to “preserve capital” and its charter before the White House takes a presumably more crypto-positive tone.

    By Nov. 26, 2024
  • A paper is shown with the words Paycheck Protection Program Borrower Application Form
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    Creative via Getty Images
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    Blueacorn founders indicted on PPP fraud charges

    The Justice Department accused Nathan Reis and Stephanie Hockridge of submitting thousands of fraudulent PPP applications through the fintech in the name of “democratizing access to loan relief.”

    By Nov. 26, 2024
  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Warren, Dems bash Capital One’s ‘history’ in Fed letter

    Lawmakers told regulators to look at the bank’s aggressive debt collection, anti-money laundering woes and an inflated community investment pledge, in considering the acquisition application.

    By Patrick Cooley • Nov. 26, 2024
  • An aerial view of St. Paul, Minnesota depicts buildings and a bridge near a river.
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    RudyBalasko via Getty Images
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    Old National to acquire Minnesota’s Bremer for $1.4B

    The deal would expand $54 billion-asset Old National’s presence in the upper Midwest and make it the third-largest bank in the Twin Cities.

    By Nov. 25, 2024
  • TD Bank at One Vanderbilt
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    TD names its next chief auditor

    The bank’s personnel moves are being closely watched as it addresses its anti-money laundering woes.

    By Nov. 22, 2024