A look at Week 2 of the Bankman-Fried trial

Sam Bankman-Fried's right-hand man and woman, who have both pleaded guilty to crimes related to FTX's downfall, testified about the recurring practice of stealing customer funds.

By Gabrielle Saulsbery • Oct. 13, 2023

Regulators ramp up pressure on BaaS banks

Firms that work with fintechs are coming under more scrutiny as examiners look to recalibrate their supervision of banks that operate banking-as-a-service programs, Klaros Group’s Konrad Alt said.

By Anna Hrushka • Oct. 11, 2023

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

White House, CFPB are coming for ‘junk fees’

The Biden administration and the Consumer Financial Protection Bureau want banks and other institutions to stop hitting consumers with extra fees. Come February, offenders face monetary penalties.

By Gabrielle Saulsbery • Oct. 11, 2023

Ripple CFO departs for Maven Clinic amid SEC battle

CFO Kristina Campbell is leaving Ripple as the exchange continues its three-year battle with the SEC over its XRP token.

By Grace Noto • Oct. 10, 2023

Fed’s Jefferson flags tightening from rising bond yields

Financing costs may have risen in recent weeks as investors upgrade their expectations for economic growth or alter their view of underlying risks, the central bank's vice chair said.

By Jim Tyson • Oct. 9, 2023

Barr: Capital proposal will have ‘limited’ impact on lending costs

Speaking to the American Bankers Association on Monday, Fed Vice Chair for Supervision Michael Barr pushed back on claims that new capital rules would hamper lending activity.

By Anna Hrushka • Oct. 9, 2023

BlackRock creates net-zero investment after axing pair of ESG funds

The asset management firm has shifted resources to climate-specific funds after the SEC updated the “Names Rule” to increase accountability on ESG funds.

By Lamar Johnson • Oct. 9, 2023

FDIC’s McKernan blasts Basel endgame, long-term debt

The regulator seeks more transparency on quantitative thresholds, and anticipates changes to long-term debt holdings could leave regional banks at a competitive disadvantage.

By Rajashree Chakravarty • Oct. 6, 2023

Banks face AI ‘arms race’ in battle against cyber threats: Barr

It is critical for financial institutions to make investments in generative AI to safeguard against cyberattacks, the Federal Reserve's vice chair for supervision said.

By Anna Hrushka • Oct. 6, 2023

Banks would have to disclose crypto exposure in new Basel plan

The Basel Committee on Banking Supervision put some onus of this year's banking crisis on crypto in a report Thursday. It also announced a proposed framework for banks who touch crypto, to debut soon.

By Gabrielle Saulsbery • Oct. 5, 2023

Bowman: Regulatory thresholds, deposit insurance need more research

“Bank failures demand scrutiny, but bank failures alone do not justify wholesale revisions to the bank regulatory framework,” the Federal Reserve governor said at a conference Wednesday.

By Rajashree Chakravarty • Oct. 5, 2023

Monzo names US CEO in renewed push to capture American market

Conor Walsh, who served six years as head of global product at Cash App, replaces Carol Nelson, who stepped down last year, shortly after the U.K. fintech withdrew its application for a U.S. bank charter.

By Anna Hrushka • Oct. 5, 2023

Fed OIG faults central bank’s Silvergate supervision

Silvergate “grew exponentially in a 5-year period,” growing its assets from less than $1 billion in 2017 to more than $16 billion at the end of 2021, the OIG said in a report that criticized the central bank’s supervision of the bank.

By Rajashree Chakravarty • Oct. 4, 2023

SEC can’t appeal judge’s Ripple decision

U.S. District Judge Analisa Torres rejected the regulator’s motion to appeal her July decision, but set a court date for other aspects of Ripple’s case.

By Gabrielle Saulsbery • Oct. 4, 2023

CFPB case meets skepticism from Supreme Court conservatives

Justices from Clarence Thomas to Samuel Alito have questioned the funding-structure argument from the ex-Trump official representing two payday lending groups.

By Dan Ennis • Oct. 4, 2023

Top bank CEOs to testify Dec. 6 to Senate panel

Executive compensation may take center stage at the hearing. But the CEOs may also use the forum to criticize a capital proposal they say will hamper their ability to extend credit.

By Anna Hrushka • Oct. 2, 2023

Discover, FDIC reach consent agreement

The agreement, issued last week, addresses “shortcomings” in Discover’s compliance management system for consumer protection laws, the company said.

By Caitlin Mullen • Oct. 2, 2023

Changes to deposit insurance coverage unlikely: Gruenberg

“While there was considerable interest in the immediate aftermath of the bank failures earlier this year, that has dissipated with time,” FDIC Chair Martin Gruenberg said at a conference Thursday.

By Rajashree Chakravarty • Sept. 29, 2023

Fed scrutiny failed to match SVB’s growth: Fed inspector general

Examiners assigned to Silicon Valley Bank, which collapsed in March, did not have sufficient expertise in supervising large, complex institutions, according to the Fed inspector general.

By Anna Hrushka • Sept. 29, 2023

Banking events for the 2023-24 conference season

It’s time to plan for the rest of this year and beyond. Banking Dive has you covered with a running list of industry conferences, expos and meetings.

By Dan Ennis • Sept. 29, 2023

Washington Trust to pay $9M in redlining settlement: DOJ

The community bank engaged in discriminatory lending practices from 2016 to at least 2021 in predominantly Black and Hispanic neighborhoods in Rhode Island, the DOJ said.

By Rajashree Chakravarty • Sept. 28, 2023

BNP Paribas tracking London office badge swipes: report

"Many of our competitors have already implemented similar measures,” the bank said in a memo to BNP employees, according to Reuters.

By Gabrielle Saulsbery • Sept. 28, 2023

OCC taps agency insider to head new fintech office

Donna Murphy, who is also the deputy comptroller for compliance risk policy at the OCC, took over the unit in September. An OCC spokesperson declined to comment on the former CFTO’s exit.

By Rajashree Chakravarty • Sept. 27, 2023

Landmark cannabis banking bill heads to full Senate

While Wednesday’s vote advances the landmark SAFER Banking Act to the Senate floor, the bill’s companion legislation in the House faces uncertainty in the Republican-controlled chamber.

By Anna Hrushka • Sept. 27, 2023

DOJ probes UBS, Credit Suisse over sanctions breaches

Credit Suisse’s alleged compliance issues may have caused some Russian clients to avoid sanctions, resulting in a Department of Justice investigation, Bloomberg reported.

By Gabrielle Saulsbery • Sept. 27, 2023