Regulations & Policy: Page 14
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Anna Hrushka/Banking Dive
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 -
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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 -
Explore the Trendline➔
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TrendlineThe 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 -
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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 -
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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 -
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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 -
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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 -
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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 -
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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 -
Anna Hrushka/Banking Dive
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 -
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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 -
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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 -
Win McNamee / Staff via Getty Images
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 -
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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 -
Anna Hrushka/Banking Dive
‘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 -
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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 -
Courtesy of Comerica
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 -
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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 -
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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 -
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Q&AOpen banking to move toward FDX standard, Jack Henry exec says
Industry collaboration on open banking is likely to move forward, with or without the CFPB’s recent final rule, says the payment processor's head of engineering.
By Lynne Marek • Nov. 11, 2024 -
Permission granted by Navy Federal Credit Union
Navy Federal to pay $95M in CFPB overdraft case
The nation’s largest credit union charged overdraft fees on purchases made with sufficient funds from 2017 to 2021, generating about $44 million per year from “surprise” fees, the CFPB said.
By Rajashree Chakravarty • Nov. 8, 2024 -
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Goldman names 95 new partners, most since 2010
The bank touted the diversity of its new class, which included 26 women. But that’s 27%, short of 29% from two years ago. About 4% of new partners are Black, less than half the 9% from 2022.
By Dan Ennis • Nov. 8, 2024 -
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Powell says he would not resign if Trump asks
The comment — punctuated by the assertion that Trump doesn't have the authority to demote a Fed governor — comes as the central bank cut interest rates by a quarter percentage point.
By Jim Tyson • Nov. 7, 2024 -
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How a second Trump term may change bank M&A
Under Trump, bank deal approvals are likely to “speed up markedly and the process will be more clearly delineated,” one analyst predicted.
By Caitlin Mullen • Nov. 7, 2024 -
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Stifel rejects CFTC’s WhatsApp settlement offer
The St. Louis-based investment bank has set aside provisions but said it can't “state with certainty that a settlement will be achieved." Stifel accepted a $35 million SEC penalty in September.
By Dan Ennis • Nov. 7, 2024 -
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FTC sues fintech Dave over alleged misleading marketing, undisclosed fees
The Federal Trade Commission filed a complaint Tuesday claiming the fintech rarely disbursed the advertised loan amount and charged consumers a “tip” without giving them the ability to opt out of it.
By Rajashree Chakravarty • Nov. 6, 2024
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