Regulations & Policy


  • J.P. Morgan's Fourth Quarter Income Drops Over 30 Percent
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    Chris Hondros / Staff via Getty Images
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    JPMorgan to pay $151M over flawed investment disclosures, more

    The Securities and Exchange Commission issued five enforcement actions against the bank, including allegations that some JPMorgan advisers’ recommendations went against the best interests of clients.

    By Nov. 1, 2024
  • Two people use Capital One ATMs. A sign above them reads "Check your (inner) balance"
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    Joe Raedle / Staff via Getty Images
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    Capital One warns of possible CFPB enforcement action

    The bureau notified the lender last month it’s considering action after customers sued Capital One, claiming it never told savings account holders they could get a higher yield if they switched to another product.

    By Nov. 1, 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
  • FTX signage is shown with a phone in the foreground
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    Leon Neal / Staff via Getty Images
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    Singh, fourth FTX exec sentenced, avoids prison

    Former FTX engineering chief Nishad Singh showed an “eagerness to assist” the prosecution during its case against Sam Bankman-Fried, and a similar energy to help CEO John Ray in FTX's bankruptcy case.

    By Oct. 31, 2024
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    Pgiam via Getty Images
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    FirstSun looks to alter HomeStreet deal again

    The firms are “discussing the pursuit of an alternative regulatory structure” after FirstSun said talks with the Fed and a Texas agency indicated the deal may not get a green light.

    By Oct. 31, 2024
  • Senator Elizabeth Warren holds out her hand as she speaks. In front of her a placard reads "Ms. Warren."
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    Michael A. McCoy / Stringer via Getty Images
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    Warren blasts DOJ over TD settlement

    Penalties imposed fell short and prosecutors’ “legal gymnastics” allowed the bank’s “reckless leadership” to skirt responsibility, the Democrat said.

    By Oct. 31, 2024
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    Getty Images/Staff via Getty Images
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    5 lessons learned from Synapse’s collapse

    Ledgering issues, bank partner and regulatory lapses and gross mismanagement led to a shortfall of up to $95 million between bank-held funds and amounts owed to fintech end users, a law firm found.

    By Oct. 30, 2024
  • Shot of Morgan Stanley logo
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    Mario Tama via Getty Images
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    Morgan Stanley adjusts climate targets with Paris goal slipping

    The bank’s 2030 targets now include a net-zero scenario that would limit additional temperature rise to 1.7°C, as aspirations for limiting global warming to 1.5°C fade.

    By Lamar Johnson • Oct. 30, 2024
  • Treasury Secreatry Janet Yellen peers behind her glasses on Capitol Hill.
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    Chip Somodevilla via Getty Images
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    Treasury floats financial inclusion strategy

    The department’s strategy “provides a national roadmap to expand access to foundational financial tools like credit and investments that are key to building wealth,” Treasury Secretary Janet Yellen said Tuesday.

    By Oct. 30, 2024
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    Getty Images/Staff via Getty Images
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    New Jersey AG accuses Republic First of redlining

    The failed lender originated 6% of its home loans to residents of majority-nonwhite neighborhoods between 2018 and 2022, the state found. The state filed a claim with the FDIC seeking remediation.

    By Oct. 30, 2024
  • A person uses a red Bank of America ATM.
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    David McNew via Getty Images
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    BofA discloses Zelle probe, says it may result in litigation

    The bank also said it’s in contact with regulators over its Bank Secrecy Act/anti-money laundering and sanctions compliance programs, and a regulatory order could stem from those discussions.

    By Oct. 30, 2024
  • Person walking by Chase bank building
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    Spencer Platt via Getty Images
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    JPMorgan Chase sues customers who exploited viral ‘glitch’

    With four nearly identical lawsuits, the nation’s largest bank wants users to return hundreds of thousands of dollars taken in a scheme promoted on TikTok.

    By Oct. 29, 2024
  • Jamie Dimon, the CEO of JPMorgan Chase bank, talks and holds his hands out in front of him.
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    Kevin Dietsch / Staff via Getty Images
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    Dimon swipes at regulators, large retailers: ‘Time to fight back’

    The JPMorgan CEO slammed recent rules, including Basel and open banking, saying the industry is right to challenge regulators. “If you’re in a knife fight, you better damn well bring a knife,” he said.

    By Oct. 29, 2024
  • Hand holding Saphire Preferred credit card reaches to tap the card at a fuel pump.
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    Justin Sullivan via Getty Images
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    How open banking will shape the future of payments

    The Consumer Financial Protection Bureau released its open banking final rule last week, leading the payments and financial services industries to begin preparing for a new era in data sharing.

    By Patrick Cooley • Oct. 29, 2024
  • A man walks into a BlackRock office building.
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    Andrew Burton via Getty Images
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    BlackRock pens pushback to asset manager proposal

    In a 17-page letter, the investment manager laid out its criticism of an FDIC proposal that would require firms to seek agency approval when they pass the 10% threshold of bank ownership.

    By Oct. 28, 2024
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC hits 3 banks within embattled Texas parent firm

    The regulator hit three subsidiary banks of Industry Bancshares with consent orders to improve their capital positions and take a hard look at staff qualifications.

    By Oct. 28, 2024
  • Where UniCredit-Commerzbank is now, from 4 angles

    The Italian lender may not have said much in the month after upping its stake in the German bank, but other European — and American — banks have lots of opinions.

    By Oct. 28, 2024
  • Director of Consumer Financial Protection Bureau Rohit Chopra speaking in front of a desk.
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    Alex Wong via Getty Images
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    Chopra defends CFPB open banking rule in face of lawsuit

    Consumer Financial Protection Bureau Director Rohit Chopra called out bank litigants that sued over the rule, saying he didn’t think they’d read it.

    By Patrick Cooley • Oct. 28, 2024
  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images
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    Fed cites Washington state bank embroiled in Ponzi scheme allegations

    UniBank and its parent company have been named in lawsuits alleging the bank facilitated loans that were used to repay earlier investors of water and oil-and-gas firms.

    By Oct. 25, 2024
  • james gorman holding a letter in a suit
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    Andrew Renneisen/Getty Images via Getty Images
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    Column

    Dive Deposits: Gorman to get $400K a year as Morgan Stanley’s chair emeritus

    The bank named CEO Ted Pick its next board chair. But Pick's predecessor will retain access to a car and driver, an office and certain controls over expenses through 2026. He'll also lead Disney's board.

    By Oct. 25, 2024
  • A New York Community Bank branch location is shown
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    Spencer Platt / Staff via Getty Images
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    NYCB postpones profitability goal to 2026

    The embattled bank recorded a $280 million loss for the third quarter and said it expected to post a loss for 2025, while whittling its profit forecast to 75 cents to 80 cents per share rather than $1.25.

    By Oct. 25, 2024
  • Bank sign on glass wall of business center
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    ultramarine5 via Getty Images
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    Industry balks at FDX standard-setting monopoly

    Regulators and industry participants worry that FDX will have an unfair monopoly and will advantage its own members if no other organization applies.

    By Patrick Cooley • Oct. 24, 2024
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    Michael M. Santiago via Getty Images
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    NY AG adds to scrutiny of Capital One-Discover deal

    New York Attorney General Letitia James is probing the proposed acquisition’s effects on competition, arguing “often vulnerable New Yorkers with subprime credit scores” could see impact.

    By Oct. 24, 2024
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    Permission granted by SoLo Funds
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    SoLo Funds hit with lawsuit over ‘tips,’ ‘donations’ features

    The proposed class action filed last week in a California federal court alleges the fintech misleads borrowers with advertising that deceptively claims to offer zero-interest loans and no hidden fees.

    By Oct. 23, 2024
  • The Goldman Sachs company logo is displayed on a screen at the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City.
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    Michael M. Santiago via Getty Images
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    Goldman, Apple to pay CFPB $89.8M over Apple Card issues

    The bank and tech firm failed to address disputed transactions from their joint Apple Card program, the bureau alleged, and misled cardholders about interest-bearing products.

    By Oct. 23, 2024
  • Rohit Chopra looks just off camera as someone else speaks.
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    Drew Angerer / Staff via Getty Images
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    Trade groups challenge CFPB’s open banking rule on Day 1

    Liability over data security emerges as a top concern as the Bank Policy Institute and a Kentucky trade group and bank sue the bureau, arguing overreach.

    By Oct. 23, 2024