TD names its next chief auditor

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

By Dan Ennis • Nov. 22, 2024

OCC admonishes Texas’ Clear Fork Bank for not correcting AML problems

The lender’s board was given one week to appoint a compliance committee to oversee the bank’s adherence to the OCC order’s provisions.

By Caitlin Mullen • Nov. 22, 2024

Explore the Trendline➔

The Banking Dive Outlook on 2022

Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.

By Banking Dive staff

Fed bans CEO of failed Kansas bank from industry

Shan Hanes, who was sentenced to 24 years in prison in August, is barred from working for a bank or bank holding company, the central bank said.

By Caitlin Mullen • Nov. 22, 2024

Richmond Fed seeks more Capital One-Discover input

The regional Fed bank, which has purview over the proposed merger, demanded more information from Capital One as the regulator considers whether to approve the deal.

By Lynne Marek • Nov. 22, 2024

SEC’s Gensler to step down Jan. 20

Gensler becomes the second Democrat-appointed chief of a U.S. financial regulator, in a three-day span, to telegraph his departure timeline.

By Jim Tyson • Nov. 21, 2024

Don’t lift Wells Fargo asset cap, Warren tells Fed

The bank’s OCC order, citing anti-money laundering deficiencies, and a court case over alleged sham interviews prove Wells hasn’t changed sufficiently, the senator wrote in a letter to central bank officials.

By Dan Ennis • Nov. 21, 2024

DC attorney general sues EarnIn over ‘deceptive’ marketing

The fintech couches its “cash out” product as earned wage access, but it’s a loan that, at times, carries 300% interest with a poorly disclosed fee for “instant” payouts, the AG said.

By Dan Ennis • Nov. 20, 2024

FDIC extends recordkeeping rule comment period

The comment window for the agency’s third-party recordkeeping rule has been extended by 45 days.

By Rajashree Chakravarty • Nov. 20, 2024

Ex-Richmond Fed supervisor pleads guilty to insider trading

Robert Brian Thompson made more than $500,000 in profits over trades made just before New York Community Bank reported an unexpected loss in January, the SEC said.

By Dan Ennis • Nov. 20, 2024

Fed hits Kansas bank again over AML compliance

Examiners found “new and continuing deficiencies” at Small Business Bank roughly a year after the Federal Reserve issued a previous enforcement action.

By Rajashree Chakravarty • Nov. 20, 2024

Hold off on new rules before Trump, GOP lawmakers tell regulators

House Financial Services Committee Republicans bemoaned recent “disastrous” banking rules and pushed regulators to pause work on new rules before Trump takes office.

By Caitlin Mullen • Nov. 20, 2024

Texas bank holding company cited by Fed

Industry Bancshares must strengthen board oversight and enhance risk management practices, the central bank said, weeks after the FDIC hit three of the company’s banks with consent orders.

By Gabrielle Saulsbery • Nov. 20, 2024

FDIC’s Gruenberg to step down Jan. 19

The embattled Democrat has served on the agency’s board for nearly two decades. His second stint as FDIC chair was marred by allegations that the agency fostered a toxic culture.

By Dan Ennis • Nov. 19, 2024

FCA: Staley misled regulators about his relationship with Epstein

Former Barclays CEO Jes Staley challenged his ban from the British financial sector Monday in a preliminary court hearing.

By Gabrielle Saulsbery • Nov. 19, 2024

CFPB’s Chopra urges deposit insurance reform

Following a recent Oklahoma bank failure, the CFPB director said it is time for Congress to remove or “at least dramatically increase” the limits of federal deposit insurance.

By Rajashree Chakravarty • Nov. 19, 2024

Senators bemoan FDIC’s slow roll after sexual harassment allegations

Seven Republican senators wrote two letters to FDIC Inspector General Jennifer Fain asserting that it’s been more than a year since bombshell toxic-culture allegations rocked the agency, yet victims still haven’t gotten justice.

By Gabrielle Saulsbery • Nov. 18, 2024

JPMorgan unveils green financing ratio following shareholder proposal

The bank said it spent $1.29 on green solutions for every dollar spent on high-carbon activities in the disclosure prompted by a proposal submitted by NYC Comptroller Brad Lander.

By Lamar Johnson • Nov. 18, 2024

18 AGs sue SEC over crypto actions

A group of attorneys general led by Kentucky’s Russell Coleman allege the agency and its commissioners “sought to unilaterally wrest regulatory authority away from the States” through crypto enforcement.

By Gabrielle Saulsbery • Nov. 15, 2024

French Hill courts House panel’s top post with community banking plan

The House Financial Services Committee Republican touched on mergers, tailored regulations and changes to failed bank resolutions in a document issued Thursday.

By Rajashree Chakravarty • Nov. 15, 2024

Dimon needles Trump after he’s left out of Cabinet

After wishing the president-elect well and thanking him for a “very nice note,” JPMorgan Chase CEO Jamie Dimon said, “Also, I haven’t had a boss in 25 years and I’m not about ready to start.”

By Caitlin Mullen • Nov. 15, 2024

‘Dysfunction’ brought down Republic First: FDIC OIG

In a site visit five months before the Philadelphia bank’s collapse, the FDIC neglected to downgrade the bank’s CAMELS rating and replaced a recommended consent order with an informal enforcement action.

By Gabrielle Saulsbery • Nov. 14, 2024

Fed bans California bank’s ex-interim CEO over alleged PPP, EIDL fraud

Anthony R. Gressak III and another Nano Banc board member made false representations on COVID aid applications, the central bank said. Gressak also will pay a $75,000 fine.

By Dan Ennis • Nov. 13, 2024

Comerica sues CFPB over ‘costly’ prepaid card probe

The agency “failed to acknowledge” that Comerica “generally acted with the oversight … or approval of the federal government” in handling a Treasury Department program, the bank said.

By Caitlin Mullen • Nov. 12, 2024

FTX suing Binance, founder for $1.76B

The FTX estate is looking to recoup funds it alleged were “fraudulently” transferred to Binance in 2021.

By Gabrielle Saulsbery • Nov. 11, 2024

Execs from 6 banks weigh in on impact of Trump’s election

Leaders at Citi, U.S. Bank, Fifth Third and more reflected on what the industry can likely expect — and what they’re hoping for — out of a second Trump presidency.

By Caitlin Mullen • Nov. 11, 2024