Florida’s BayFirst sheds 51 jobs, shutters SBA loan platform

The bank’s COO called out older, smaller loans as a trouble spot. BayFirst counted $1.5 million in first-half losses and expects to take a third-quarter restructuring charge. It’s also suspending dividend payouts.

By Dan Ennis • Aug. 6, 2025

Dive Deposits: CFPB claps back at GAO

The bureau’s chief legal officer defended Acting Director Russ Vought’s decision to decline funding from the Federal Reserve, saying the move did not constitute an illegal withholding.

By Dan Ennis • Aug. 5, 2025

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

Dive Deposits: The Fed may have out-Fridayed itself

Fed Gov. Adriana Kugler’s resignation may have overshadowed two dissents on the interest rate. But a single opening at the central bank may not carry as much impact as President Trump would hope.

By Dan Ennis • Aug. 4, 2025

UBS to pay $300M to settle Credit Suisse mortgage securities case

The Zurich-based lender’s agreement with the U.S. Justice Department will resolve the remaining consumer relief obligations from the 2017 settlement, UBS said Monday. 

By Rajashree Chakravarty • Aug. 4, 2025

Barclays exits climate alliance, following HSBC

“With the departure of most of the global banks, the [Net Zero Banking Alliance] no longer has the membership to support our transition,” Barclays said.

By Zoya Mirza • Aug. 1, 2025

Ex-Flagstar CEO accused of illegal conduct

A former compliance executive at the bank sued Alessandro DiNello, saying the ex-CEO knew of a client’s money laundering and discussed sensitive information while a “junior employee sat on his lap.” 

By Rajashree Chakravarty • Aug. 1, 2025

Gruenberg named in FDIC workplace misconduct report

Four other ex-FDIC officials were not identified in the Office of the Inspector General’s findings, which followed a November 2023 WSJ exposé of the allegedly toxic culture.

By Gabrielle Saulsbery • Aug. 1, 2025

Wells Fargo gives CEO Scharf a $30M award, names him chair

The executive joins the CEOs of Goldman Sachs and Capital One in receiving eight-figure equity awards this year. Citi will be the only U.S. SIFI with separate CEO and chair roles.

By Dan Ennis • Aug. 1, 2025

Trump-appointed group calls for clear crypto regulation, tax changes

The long-awaited, 166-page report detailed regulatory and legislative suggestions in the interest of “the new American Golden Age.”

By Gabrielle Saulsbery • July 31, 2025

Former SoFi GC named OCC chief counsel

Adam Cohen will join the OCC from the law firm Skadden. He’s previously held roles at both the CFTC and Federal Reserve.

By Gabrielle Saulsbery • July 30, 2025

CFPB to ‘substantially’ revamp open banking rule, it says

A judge stayed a court case challenging the rule after the bureau said it would “reexamine” the matter and find a “well-reasoned approach” that “aligns with the policy preferences of new leadership.”

By Justin Bachman • July 30, 2025

Post-asset cap, Wells chases government banking growth

In government banking, “we have felt it, reputationally,” a Wells executive said of the bank’s growth restraint and the issues that prompted it. Now, “our limitations are behind us.”

By Caitlin Mullen • July 29, 2025

Fired NCUA board members sidelined again

An appeals court Friday granted the Trump administration’s request to pause the reinstatement of Todd Harper and Tanya Otsuka to the NCUA board while the decision is appealed.

By Caitlin Mullen • July 28, 2025

Flagstar wants to dissolve its holding company

The move, which would cut the Federal Reserve out of the bank’s oversight, is expected to save $15 million annually, the bank said Friday.

By Dan Ennis • July 28, 2025

Trump, Powell clash over Fed renovation cost

The president and the central bank chief disagreed on math during a site visit that marked the culmination of a campaign seemingly meant to pressure the Federal Reserve chair to resign.

By Gabrielle Saulsbery • July 25, 2025

Northern Trust CEO dismisses reports of takeover talks

Despite reports that BNY and Goldman had approached Northern Trust, CEO Mike O’Grady told analysts that independence will “produce the best returns for our shareholders ultimately.”

By Gabrielle Saulsbery • July 24, 2025

TD to require execs in office 4 days a week starting in October

Non-executive employees will follow in November, the bank said, subject to space availability. With the move, Canada’s four largest lenders have instituted 4-day in-office requirements this fall.

By Dan Ennis • July 24, 2025

BofA, Morgan Stanley, U.S. Bank CFOs push for holistic capital framework review

The connection among individual capital rules becomes “important to us as practitioners, because we’re managing all of them,” BofA’s CFO said during the Fed’s Tuesday conference.

By Caitlin Mullen • July 24, 2025

Trade groups push back on crypto firms’ bank charter pursuit

The ABA and other trade groups have urged the OCC to delay approving national trust bank charter applications from Ripple, Circle and other crypto firms, citing “substantial concerns.”

By Rajashree Chakravarty • July 23, 2025

Dive Deposits: Fake Powell resignation catches senator off-guard

Sen. Mike Lee, R-UT, posted and deleted a potentially AI-generated letter concerning the Fed chief. Meanwhile, a White House rep confirmed he’ll visit the central bank renovation site Thursday.

By Dan Ennis • July 23, 2025

Judge reinstates fired NCUA members

President Trump fired Todd Harper and Tanya Otsuka in April, leaving one sole member to perform supervisory and enforcement duties over the U.S.’s more than 4,000 credit unions.

By Gabrielle Saulsbery • July 23, 2025

Dive Deposits: Even Elizabeth Warren is coming to Powell’s defense

The senator knocked the FHFA chief over voluminous social posting. Meanwhile, the Fed published a video tour of its renovations, and Treasury Secretary Scott Bessent expounded on his recent comments.

By Dan Ennis • July 22, 2025

Ex-Richmond Fed supervisor agrees to $652K penalty

Robert Brian Thompson, who pleaded guilty to insider trading in November, was barred from the banking industry in April.

By Rajashree Chakravarty • July 22, 2025

PNC, Coinbase team up on crypto-as-a-service

The nation’s largest crypto exchange and its seventh-largest bank are joining in their “commitment to a more resilient digital financial system,” the firms said Tuesday.

By Gabrielle Saulsbery • July 22, 2025

Fed capital conference panelists stress need for Basel III alignment

An all-day conference Tuesday gave industry experts a platform to press regulators to take a holistic approach to bank capital rules.

By Caitlin Mullen • July 22, 2025