Regulations & Policy


  • Wells Fargo branch exterior
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    Courtesy of Wells Fargo multimedia resources

    OCC judge recommends $18.5M in fines for 3 ex-Wells Fargo execs

    The penalties, including a lifetime ban for one, are in line with what the agency had sought. The judge suggested a second lifetime ban. The OCC has 90 days to issue a final decision.

    By Dec. 8, 2022
  • sam bankman-fried
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    Alex Wong via Getty Images

    Lawmakers to subpoena Bankman-Fried if he doesn’t testify on FTX collapse

    Sens. Elizabeth Warren, D-MA, and Tina Smith, D-MN, penned a letter to regulators concerning bank-crypto connections, as another FTX investigation begins.

    By Dec. 8, 2022
  • Trendline

    Fraud and AML in banking

    Peer-to-peer payments, crypto platforms, ESG investment vehicles and COVID-era relief programs continue to be sources of fraud-related frustration.

    By Banking Dive staff
  • marijuana
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    Christopher Furlong via Getty Images

    SAFE Banking misses another Senate chance. Now what for cannabis?

    An omnibus spending bill and the HOPE Act present two more opportunities to pass the cannabis-banking measure this session. But even some co-sponsors have decried tying it to other legislation.

    By Dec. 8, 2022
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    Dan Kitwood/Getty Images News via Getty Images

    Nexo to exit US market after regulator talks hit dead end

    The U.K. crypto lender was reportedly in talks with regulators for 18 months to comply with U.S. financial laws.

    By Dec. 6, 2022
  • Circle co-founder and CEO Jeremy Allaire, headshot
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    Permission granted by Circle

    Circle’s $9B SPAC deal falls apart

    The stablecoin issuer and the blank-check company that had hoped to take it public terminated their agreement over the wait for SEC approval, they said.

    By Dec. 6, 2022
  • Michael Barr
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    Tasos Katopodis via Getty Images

    Fed’s Barr calls for stricter capital requirements

    The vice chair for supervision did not say when a review of the stress test framework would be complete, but more details are expected early next year.

    By Dec. 5, 2022
  • police officer stands in front of federal reserve bank
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    Mark Wilson via Getty Images

    Fed seeks public comment on tighter monitoring of climate risk

    The central bank's proposal follows similar moves by the OCC and FDIC. But two Fed governors posted statements explaining their reservations.

    By Dec. 5, 2022
  • The Goldman Sachs logo is seen on at the New York Stock Exchange on September 13, 2022 in New York City.
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    Michael M. Santiago / Staff via Getty Images

    Citi, BofA, JPMorgan investment bankers’ bonuses may dip by 30%: report

    Goldman Sachs traders' bonuses may see low double-digit percentage-point declines despite an expected 15% jump in revenue. And 100 or more bankers there could see no bonus, according to Bloomberg.

    By Dec. 5, 2022
  • Image of a dartboard with dart hitting bullseye
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    Envato Elements/Brebca

    Sponsored by Bridgeforce LLC

    How accurate is your Metro 2® furnishing? (And how do you even know?)

    Focus on these four key areas to gain a real-world understanding of accurate Metro 2® furnishing.

    By Michelle Macartney • Dec. 5, 2022
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    Fotolia

    10 top reads from Banking Dive

    If you're new, welcome. Here's a chance to catch up on some of our best work.

    By Dec. 4, 2022
  • Cryptocurrency
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    da-kuk via Getty Images

    CFTC chair pushes lawmakers on the creation of crypto regulatory framework

    Thursday's hearing marked the first in a series that will address the downfall of FTX and future regulation in the beleaguered crypto industry.

    By Dec. 2, 2022
  • Panel blasts fintechs for missing ‘obvious and preventable’ PPP fraud

    Womply and Blueacorn’s lack of fraud controls made them the “paths of least resistance” for fraudsters, a House subcommittee said Thursday. Another fintech included in the report blamed the SBA’s “sh***y rules.”

    By Dec. 2, 2022
  • cryptocurrency graphic
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    Dan Kitwood via Getty Images

    NYDFS proposes charging crypto businesses for supervision

    The fees, up for two comment periods, would help the agency “continue adding top talent to its virtual currency regulatory team,” NYDFS said Thursday.

    By Dec. 2, 2022
  • Looking along Pennsylvania Avenue towards the Capitol Building.
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    Doug Armand via Getty Images

    Republicans blast Gruenberg over FDIC power struggle at hearing

    "I'm actually kind of angry that you, Mr. Gruenberg, forced the resignation of your predecessor as FDIC chair, a first-generation American immigrant who was a woman," said Sen. Cynthia Lummis, R-WY.

    By Dec. 1, 2022
  • A pair of gloved hands touch a cannabis plant leaf
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    Photo by Kindel Media on Pexels

    Trade groups urge Senate to hear SAFE Banking Act

    The bill would alleviate “the threat to public safety posed by cash intensive [cannabis-related businesses] effectively being shut out of the banking industry,” the ICBA and other associations said.

    By Nov. 30, 2022
  • 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

    OCC may stiffen penalties with revised guidance

    Updates to the agency’s policy manual make new categories with elevated fine totals for violations by the largest banks and change the factors that beget leniency. The OCC also suggests restricting bank business as a tie-in.

    By Nov. 30, 2022
  • Clipboard with small business loan application form and pen on wooden desk background.
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    Piotrekswat via Getty Images

    Can the SBA make its 7(a) loan program attractive to fintechs?

    A new proposal could pave the way for nonbanks to grab a share of the small-business agency’s 7(a) lending program, but not everyone is convinced the program is suited for fintechs.

    By Nov. 29, 2022
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    Chip Somodevilla via Getty Images

    Kraken settles with Treasury Department for $362K

    The platform avoided the maximum penalty of $272 million because it self-reported, the Office of Foreign Assets Control said.

    By Nov. 29, 2022
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    Thomas Lohnes via Getty Images

    Epstein accusers sue JPMorgan Chase, Deutsche Bank

    Two unnamed women who allege the disgraced financier sexually abused them are seeking unspecified damages from the banks, which they say enabled Epstein’s behavior.

    By Nov. 28, 2022
  • Cryptocurrency tokens lying next to a gavel
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    Just_Super via Getty Images

    State regulators probe Genesis for securities violations

    Regulators are investigating whether the company influenced residents to invest in crypto securities through its platform without having the right registrations, an Alabama official said.

    By Nov. 28, 2022
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    Justin Sullivan / Staff via Getty Images

    Banks discuss refund rule for Zelle customer fraud: report

    Under measures being discussed, banks would share liability inside Zelle’s system and guarantee to reimburse one another, sources told The Wall Street Journal.

    By Nov. 28, 2022
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    sefa ozel via Getty Images

    Regulatory challenges more prominent in eyes of fintech industry leaders this year

    Private firms are adopting a more defensive posture, delaying new funding rounds, planning for modest growth and addressing regulatory risks, according to a report.

    By Nov. 23, 2022
  • A sign with the 'Citi' logo
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    Mario Tama via Getty Images

    Fed, FDIC order Citi to address data management weaknesses

    Citi must submit a “mapping document” addressing the issues by Jan. 31. The bank promised “more streamlined systems that improve the quality of our data as well as the speed with which it can be accessed.”

    By Nov. 23, 2022
  • A stock ticker scrolls behind a Goldman Sachs banner at the stock exchange
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    Chris Hondros via Getty Images

    Goldman Sachs fined $4M over ESG investment policy failures

    The bank’s asset-management unit “had several policies and procedures failures involving the ESG research its investment teams used to select and monitor securities,” the SEC said.

    By Nov. 23, 2022
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    Permission granted by SoFi

    Lawmakers question SoFi CEO, regulators over crypto activity

    The Fed gave SoFi two years from its acquisition of a California bank to divest from a digital-assets business, the lawmakers wrote. But two months later, SoFi touted an “expansion” of crypto services.

    By Nov. 22, 2022