Regulations & Policy: Page 3
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Courtesy of Wells Fargo multimedia resources
OCC terminates 2021 Wells Fargo consent order, leaving bank with 3
Regulators have terminated 11 consent orders against Wells since 2019, including five so far this year. The bank's asset cap, however, remains.
By Gabrielle Saulsbery • March 18, 2025 -
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Fintech SmartBiz buys Illinois bank
Initially, the fintech considered obtaining its own charter, but decided it made more sense to find a lender open to acquisition that could complement SmartBiz’s strengths, said CEO Evan Singer.
By Caitlin Mullen • March 18, 2025 -
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TrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
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Trump Organization lawsuit raises questions on Capital One-Discover deal
Capital One needs three U.S. approvals to proceed with its $35.3 billion purchase of Discover. Could a Trump Organization lawsuit against the bank spell trouble?
By Justin Bachman • March 18, 2025 -
(2024). [Photo]. Retrieved from Federal Reserve.
Trump nominates Bowman as Fed’s next vice chair for supervision
The longtime central bank governor often served as a vocal counterpoint during Michael Barr's tenure, on issues such as stress tests, bank merger policy and CRA revisions.
By Dan Ennis • March 18, 2025 -
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Northern Trust exec: Crypto rule changes may ease tokenization
Biden-era anti-crypto regulations didn’t just affect volatile digital assets. They also affected firms offering traditional assets, like bonds, on the blockchain.
By Gabrielle Saulsbery • March 17, 2025 -
Fed OKs Renasant, EverBank acquisitions
The central bank issued two approvals Friday, allowing two Mississippi banks to merge in a $1.2 billion deal, and EverBank to acquire components of Sterling Bank for $261 million. Both deals are set to close April 1.
By Caitlin Mullen • March 17, 2025 -
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JPMorgan: Women unlikely to reach parity with men for 134 years
In C-suites worldwide, women are far from attaining equal status, holding only about 10% of the most powerful roles such as CEO and CFO.
By Jim Tyson • March 17, 2025 -
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CFPB must rehire terminated probationary employees: court
Workers received no advance notice or performance-based assessments ahead of the dismissals, a judge ruled. A judge in a separate case said he would not prevent CFPB leaders from returning the bureau’s reserve funds.
By Dan Ennis • March 14, 2025 -
Webster eyes $100B threshold, invests in hiring and tech
The Connecticut-based bank aims to hire about 200 people this year, including adding about two dozen technology and cybersecurity employees, Webster’s CIO said.
By Caitlin Mullen • March 14, 2025 -
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Judge in CFPB case ‘leaning’ toward injunction
Efforts to gut the bureau may still be going forward. A defense attorney, meanwhile, tried to highlight the differences between DOGE’s actions and those of the CFPB’s new leadership.
By Dan Ennis • March 12, 2025 -
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NYDFS chief details changes spurred by Signature failure
The regulator implemented new escalation protocols and an operational stress testing exercise to keep a closer eye on the “C students” under its watch, Adrienne Harris said Tuesday.
By Caitlin Mullen • March 12, 2025 -
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Q&APathward CEO: Regulatory scrutiny of BaaS ‘just getting started’
Regulators will keep BaaS under the microscope, continuing to put pressure on the space and contributing to fewer banks in the space, expects Brett Pharr, the bank’s CEO.
By Caitlin Mullen • March 12, 2025 -
Andrew Harnik / Staff via Getty Images
Warren slams Fed over accountability on SVB execs
On the second anniversary of the bank’s failure, the senator chastised the central bank for failing to complete rulemakings to prevent similar future collapses.
By Rajashree Chakravarty • March 11, 2025 -
Permission granted by Office of the Comptroller of the Currency
OCC shifts gears on crypto
The interpretive letter issued Friday, advising banks on engaging in certain crypto-asset activities, rescinded Biden-era guidance issued in 2021.
By Rajashree Chakravarty • March 10, 2025 -
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CFPB raced against impending court order on 1,175 layoffs
Agency officials prepared a list of targeted firings in the hours before a judge ordered a halt Feb. 14. The CFPB’s chief operating officer is set to testify this week.
By Dan Ennis • March 10, 2025 -
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Trump Organization accuses ‘woke’ Capital One of de-banking
The lender de-banked some 300 Trump Organization accounts because it believed “the political tide at the moment favored doing so,” a lawsuit contends. Eric Trump has suggested more big banks may be targeted.
By Caitlin Mullen • March 10, 2025 -
Courtesy of Comerica
Comerica urges judge not to give CFPB more time on lawsuit
The stay requested by the CFPB would prolong the harm Comerica is experiencing due to the “meritless” lawsuit, the bank said.
By Gabrielle Saulsbery • March 7, 2025 -
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Scott introduces bill to drop ‘reputational risk’ metric
The Republican senator argues using reputational risk in bank supervision is problematic because it’s not statutorily required, and it represents an improper use of authority.
By Rajashree Chakravarty • March 7, 2025 -
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McKernan CFPB nod advances to full Senate
The Senate Banking Committee voted 13-11 along party lines to put the former FDIC board member in charge of the CFPB despite “disqualifying responses” to questions posed by Sen. Elizabeth Warren.
By Dan Ennis • March 7, 2025 -
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Q&A
Killing the CFPB would create a vacuum, ex-insider says
Large banks and payment players might enjoy lighter regulation if the CFPB disappears, but should be careful what they wish for, says David Silberman, a former senior administrator for the bureau.
By Justin Bachman • March 7, 2025 -
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CFPB refreshes website, details stop-work miscommunication
Visits to the bureau’s site lead to a consumer complaint page. Meanwhile, a federal court received 100 pages of internal documents, including a fiery note to a supervision executive.
By Dan Ennis • March 6, 2025 -
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State Street ditches board diversity requirement
The bank, which once commissioned the “Fearless Girl” statue, will no longer require company boards to feature a 30% proportion of women directors, following similar changes by BlackRock and Vanguard.
By Lamar Johnson • March 6, 2025 -
Anna Moneymaker via Getty Images
Consumer groups to defend Biden-era CFPB overdraft rule
The overdraft rule issued by the CFPB under previous Director Rohit Chopra, capping fees at $5, may be abandoned in the wake of the change of power, a judge said Tuesday.
By Rajashree Chakravarty • March 6, 2025 -
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FDIC OKs Rhode Island bank’s wind-down plan
Independence Bank was ordered to pay $3.5 million in restitution after the lender allegedly charged illegal fees for Small Business Administration 7(a) loans, causing the agency to lose roughly $8.8 million.
By Caitlin Mullen • March 5, 2025 -
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Goldman’s annual cull set for May: reports
The bank’s workforce reduction this year may affect 3% to 5% of its employees, with a special focus on vice presidents, according to The Wall Street Journal and Bloomberg.
By Dan Ennis • March 5, 2025
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