Bittrex to open for customer withdrawals

The U.S. arm of Bittrex Global filed for bankruptcy last month following regulatory enforcement.

By Gabrielle Saulsbery • June 14, 2023

Cadence finds redemption after pair of redlining penalties

The FDIC gave the Mississippi bank an "outstanding" rating for its Community Reinvestment Act work, marking a turnaround from a 2016 consent order — and another against a bank it acquired in 2021.

By Dan Ennis • June 13, 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

Banks too slow to address P2P payment scams, CFPB’s Chopra says

“They have been very slow to take action,” the bureau’s director said Tuesday, when asked if banks were creating frameworks to combat fraud and scams conducted on peer-to-peer payment platforms.

By Anna Hrushka • June 13, 2023

OCC seeks public comment on ‘trust in banking’ survey

The agency plans to publish the results of the annual survey in a report for policymakers, bankers and researchers.

By Rajashree Chakravarty • June 12, 2023

The best of both worlds: Improving customer experience for gig workers to drive business growth

As one of the fastest growing segments of the workforce, solutions that offer a seamless experience for this demographic is key to gaining their loyalty. 

June 12, 2023

Climate First mulls Florida exit after anti-ESG bill passes

In response to the legislation, the bank nixed its exclusionary list, outlining the sectors with which it has said it won’t do business, such as the fossil-fuel sector or other extractive industries.

By Anna Hrushka • June 9, 2023

Bigger buffer would hurt BofA’s lending, Moynihan says

“If our capital ratios go up by 100 basis points, simply put, we can’t make about $150 billion of loans,” the CEO said, when asked how reports of an average 20% increase in capital requirements would affect the bank.

By Anna Hrushka • June 8, 2023

Binance court filings shed light on relationship with failed banks, Gensler

The now-SEC chief offered to serve as a Binance advisor in 2019, Binance's legal team alleges. The filing also details billions of the exchange’s dollars funneled through Silvergate and Signature.

By Gabrielle Saulsbery • June 8, 2023

Fed, FDIC, OCC update guidance on third-party risk management

Regulators described the new guidance as “principles-based,” which can be adjusted to the unique circumstances of each third-party relationship.

By Anna Hrushka • June 7, 2023

Investors urge judge to advance Wells Fargo diverse hiring lawsuit

Following a New York Times report that alleged employees were conducting sham interviews, shareholders claim the bank assured investors that its diverse hiring policy was working.

By Anna Hrushka • June 6, 2023

SEC sues Coinbase as federal crackdown on crypto continues

Coinbase was accused of operating an unregistered national securities exchange, broker and clearing agency. The SEC also took aim at its staking-as-a-service program, a day after suing crypto firm Binance.

By Gabrielle Saulsbery • June 6, 2023

SEC charges Binance, CEO Zhao with 13 violations

The regulator alleged high-value U.S. customers were secretly allowed to trade on Binance platforms after the company said otherwise, and that controls allowed customers’ funds to commingle.

By Dan Ennis • June 5, 2023

Republicans draft crypto legislation

The discussion draft, which largely addresses how digital assets can be defined as commodities, represents the most significant federal legislative development in the crypto sphere this year.

By Gabrielle Saulsbery • June 5, 2023

Banks could face 20% capital buffer increase: report

The largest increases are expected to fall on lenders with big trading operations, and those who rely heavily on fee income, sources told The Wall Street Journal.

By Anna Hrushka • June 5, 2023

Pennsylvania lender to pay more than $3M in DOJ redlining settlement

ESSA Bank & Trust’s president signaled the bank’s cooperation but said ESSA “did not receive a single fair lending complaint from any customer or potential customer” during the time in question.

By Dan Ennis • June 2, 2023

CFPB slaps warning on P2P

The federal agency told consumers that money sitting in uninsured accounts, such as some offered by PayPal, Venmo and Cash App, could be at risk.

By Lynne Marek • June 2, 2023

CFPB orders OneMain to pay $20M over add-ons, delinquent refunds

Some customers were led to believe that signing up for an add-on product was imperative to receive a loan, the CFPB said.

By Rajashree Chakravarty • June 1, 2023

Wells Fargo ex-exec Tolstedt to pay $5M to SEC

Tolstedt publicly endorsed Wells Fargo’s “cross-sell metric” as a measure of success, including at investor conferences, despite knowing figures were distorted by bankers opening unauthorized accounts, the agency said.

By Dan Ennis • May 31, 2023

OCC targets big banks with ‘persistent weaknesses’

The regulator's new enforcement manual appendix comes in the wake of the recent bank failures and is aimed at larger and more complex financial institutions.

By Rajashree Chakravarty • May 30, 2023

NYC regulator halts city deposits at Capital One, KeyBank

New York City Comptroller Brad Lander also voted against allowing Wells Fargo, PNC and International Finance Bank to hold public funds after they failed to submit anti-discrimination plans.

By Rajashree Chakravarty • May 26, 2023

Citizens Bank to pay $9M to settle disputed-charge suit

The bureau claimed the bank, in 2015, improperly denied customer reports of fraud and unauthorized use and, in some cases, failed to fully reimburse users.

By Dan Ennis • May 23, 2023

First Citizens sues HSBC over departure of 42 SVB bankers

The North Carolina bank accused a former SVB executive of helping HSBC, his new employer, incite a mass migration of talent and trade-secret information.

By Dan Ennis • May 23, 2023

Legislators spar over stablecoin proposals

Lawmakers agree stablecoin legislation is needed to ensure the U.S. establishes itself as a leader in the space.

By Caitlin Mullen • May 22, 2023

Defining a personalization strategy? Banks must consider 4 unique consumer profiles

Research reveals the four types of bank customers based on their desired outcome from personalization.

By Katie Pagenkopf • May 22, 2023

The banking failure fallout and regulatory changes to come

To get a jump on future regulations, banks will have to shore up their own risk management, interest rate modeling, and economic stress-testing capabilities.

By Aaron Ricadela • May 22, 2023