AI in anti-money laundering isn't just compliance, it's good business

A reduction in automated false positive alerts means anti-money laundering investigators can spend more time working to catch criminals.

By Tim Mueller • Oct. 1, 2019

Fannie Mae, Freddie Mac can boost capital buffers to $45B

Ending the "net worth sweep" is seen as the first step in unwinding the mortgage giants from government conservatorship. But the FHFA's chief said that process will "probably take a decade."

By Dan Ennis • Sept. 30, 2019

Explore the Trendline➔

Top 5 stories from Banking Dive

Amid a swell of activity, financial institutions large and small are leaning into their aspirations. For PNC, it’s scale. For some fintechs, it’s a charter. For Millbury National Bank, it may simply be niceness.

By Banking Dive staff

Lawmaker wants to put CECL standard up for public comment

The standard, requiring banks to record expected future losses as soon as loans are issued, takes effect by the end of the year at the country's biggest financial institutions.

By Robert Freedman • Sept. 30, 2019

Capital One accused of age bias in EEOC ruling over Facebook ads

The bank and six other companies have denied any wrongdoing. But if they don't settle, the equal employment agency or plaintiffs could file lawsuits in federal court.

By Dan Ennis • Sept. 27, 2019

Wells Fargo names BNY Mellon’s Charlie Scharf CEO

The appointment ends a six-month search that began after former CEO Tim Sloan resigned from the scandal-plagued bank in March.

By Anna Hrushka • Sept. 27, 2019

Women-focused de novo gets conditional approval from FDIC

First Women's Bank is targeting the 42% of all businesses that are women-owned, which generate $1.9 trillion in annual revenue, according to the bank.

By Anna Hrushka • Updated July 17, 2020

House OKs landmark cannabis banking bill

If the Senate also passes the SAFE Banking Act, it would be a major win for the cannabis industry and banks that want a piece of a market that could grow to $41 billion by 2025, according to data firm Nielsen.

By Anna Hrushka • Sept. 26, 2019

Banks worth $47T adopt UN-backed responsible banking principles

The launch of the initiative on the eve of the U.N. Climate Action Summit in New York comes as more financial institutions are emphasizing their commitments to socially responsible investing.

By Anna Hrushka • Sept. 24, 2019

NCUA doubles the amount offered in payday alternative loan

Credit unions can let members borrow up to $2,000 for a year, according to a final rule. But the vote wasn't unanimous.

By Dan Ennis • Sept. 20, 2019

Cannabis bill update spotlights hemp businesses, bank ties to payday lenders and firearms

The revisions may be aimed at persuading a historically reluctant GOP-controlled Senate to pass the SAFE Banking Act. 

By Anna Hrushka • Sept. 20, 2019

CFPB complaint portal ‘here to stay,’ but with modifications, Kraninger says

Industry groups have long called for changes to the agency's complaint portal, which they say unfairly damages financial institutions' reputations with unverified negative information posted by customers.

By Anna Hrushka • Sept. 19, 2019

CFPB investigating possible fake accounts at Bank of America

The CFPB's civil investigation stems from the fallout of the 2016 Wells Fargo account scandal, where employees opened more than 3.5 million unauthorized accounts to meet sales goals.

By Anna Hrushka • Sept. 18, 2019

DOJ asks top court to rule CFPB structure unconstitutional

CFPB Director Kathy Kraninger said a clause allowing her to only be fired for cause is hampering the agency's enforcement actions. 

By Dan Ennis • Sept. 18, 2019

FDIC proposes easing swaps margin rule

Lobbyists argued the requirement left U.S. banks with $39.4 billion in untapped resources.

By Dan Ennis • Updated Sept. 18, 2019

Square's city tax lawsuit is rooted in its status as 'fin' or 'tech'

The company alleges it was overtaxed because San Francisco classified it as a financial services company rather than an information business. Square has twice filed applications to open a bank.

By Dan Ennis • Sept. 13, 2019

Senate panel chairman eyes cannabis banking vote by year's end

Passage of legislation to protect banks that service marijuana-related businesses would be a major victory for the cannabis industry, which has remained largely cash-based over a lack of access to banking services.

By Anna Hrushka • Sept. 13, 2019

Candidate O'Rourke urges banks to curb gun financing in Twitter post

A growing number of banks are using lending to encourage and promote social and environmental causes.

By Dan Ennis • Sept. 12, 2019

AML bill would root out shell companies, curb banks' compliance costs

Financial institutions are required to collect beneficial ownership information from companies and report them to FinCEN, a task that can come at a high cost for banks.

By Anna Hrushka • Sept. 12, 2019

OCC signs off on Fifth Third’s switch to national bank

The Cincinnati-based bank becomes the first in nearly a year and a half to switch to a national charter. 

By Dan Ennis • Sept. 12, 2019

California lawmaker pulls cannabis banking bill ahead of vote

The state is expected to post $3.1 billion in licensed cannabis sales this year. But as long as pot remains a Schedule 1 drug under federal law, many banks are reluctant to accept those deposits.

By Anna Hrushka • Sept. 11, 2019

Quarles pushes two options to boost stress capital proposal

The Fed's vice chair for supervision said he hopes to integrate the changes into the next round of stress tests, set for June 2020.

By Dan Ennis • Sept. 9, 2019

BB&T, SunTrust branch sales could mark opportunity as merger nears

The banks have said the merger would result in 740 branches located within two miles of one another, a prospect that has drawn concern from lawmakers.

By Anna Hrushka • Sept. 6, 2019

Wells Fargo would benefit from a female CEO, headhunter says

News of a woman breaking the industry's glass ceiling may help solve an image problem for a bank reeling from numerous scandals.

By Anna Hrushka • Sept. 6, 2019

Credit union regulator to clarify bank acquisition rules

Credit unions have acquired 21 U.S. banks since 2018, a sharp uptick over the 12 they acquired in the prior five years, according to S&P Global data. But a trade group says that doesn't serve credit unions' mission.

By Anna Hrushka • Sept. 5, 2019

OCC fintech charter remains in limbo after judge tosses second challenge

Tech companies appear reluctant to commit to the charter while another regulator's suit is pending. 

By Dan Ennis • Sept. 5, 2019