Rakuten withdraws bid for NCUA charter

The Japanese e-commerce firm previously tried three times to gain a charter via an industrial loan company application, only to withdraw each bid months later.

By Anna Hrushka • Sept. 19, 2023

FinCEN fines Puerto Rico bank $15M on alleged BSA violations

Bancrédito failed to timely file suspicious activity reports between October 2015 and May 2022, and inadequately monitored transactions involving entities in Venezuela.

By Rajashree Chakravarty • Sept. 18, 2023

Explore the Trendline➔

Top 5 stories from Banking Dive

Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.

By Banking Dive staff

Senate panel to hold vote on cannabis banking bill

The bipartisan bill, which has passed in the House seven times but has yet to pass in the Senate, is scheduled for a committee vote Sept. 27.

By Anna Hrushka • Sept. 18, 2023

Boost your balance sheet with cannabis banking

The legal cannabis market is booming, but bankers must understand the economics of this line of business.

By Tony Repanich, President and CEO of Shield Compliance • Sept. 18, 2023

Capital-requirements dissent escalates

Two dozen Republican lawmakers are asking the Fed and others to withdraw the rule, asserting it puts politics ahead of data.

By Dan Ennis • Sept. 15, 2023

TD, First Horizon lay out post-breakup woes at the same conference

TD's U.S. chief called a Justice Department probe into AML compliance "manageable," while First Horizon detailed a $70 million charge-off on a loan to a company that's liquidating.

By Dan Ennis • Sept. 14, 2023

Trade groups ask Fed, FDIC, OCC to rework capital requirements proposal

Regulators need to show more of the data that led them to the benchmarks they're proposing, and they shouldn't plan to "refine" their analysis during the comment period, the groups said.

By Dan Ennis • Sept. 13, 2023

Scope 3 emissions flap delays final climate risk rule, Gensler says

Republican senators criticized the SEC chief for what they said is a burdensome and divisive regulatory agenda.

By Jim Tyson • Sept. 12, 2023

Texas court strikes down CFPB’s anti-discrimination effort

A judge ruled Congress does not give the bureau explicit authority to lump discrimination under UDAAP, in a win for trade groups that sued the agency.

By Dan Ennis • Sept. 12, 2023

Dimon blasts regulators’ capital proposals

The JPMorgan Chase chief called a plan that requires banks to set aside more capital for times of crisis “hugely disappointing” and lacking in transparency.

By Rajashree Chakravarty • Sept. 12, 2023

Banks’ profit dropped 11% in Q2, FDIC finds

“Despite the period of stress earlier this year, the banking industry continues to be resilient. In the second quarter, key banking industry metrics were favorable,” FDIC Chair Martin Gruenberg said Thursday.

By Rajashree Chakravarty • Sept. 11, 2023

FDIC admits missteps in First Republic oversight

In the four years before the bank’s failure, the San Francisco-based lender doubled in size while examination hours declined by 11%, the FDIC said in its post-mortem.

By Anna Hrushka • Sept. 11, 2023

5 takeaways from Michael Barr’s views on CBDCs, stablecoins and more

The Federal Reserve’s vice chair for supervision spoke about “responsible innovation” Friday at a Philadelphia Fed fintech conference.

By Suman Bhattacharyya • Sept. 11, 2023

Fourth former FTX executive pleads guilty

Ryan Salame pleaded guilty to violating campaign finance laws and operating an unlicensed money transfer business. Salame could lose $1.5 billion if he fails to forfeit assets including two properties and a Porsche 911 Turbo.

By Gabrielle Saulsbery • Sept. 8, 2023

Senate confirms Jefferson, Kugler, Cook to Fed roles

Philip Jefferson becomes the second Black man to serve as the central bank’s vice chair, and Adriana Kugler becomes the board's first member of Latin descent.

By Dan Ennis • Sept. 7, 2023

Fed issues enforcement order to Kansas bank

The central bank cited deficiencies in staffing, internal controls, credit risk management, lending and credit administration, capital, IT and third-party risk management.

By Dan Ennis • Sept. 6, 2023

FDIC seeks bids for $33B in Signature CRE loans

The deadline is set for Nov. 1, according to Bloomberg. About $15 billion of the loans are tied to properties that are rent-stabilized or rent-controlled.

By Dan Ennis • Sept. 6, 2023

Average overdraft fee falls 11% to near-two-decade low: survey

The average nonsufficient funds fee, meanwhile, plunged 25% over the past year, Bankrate found. But ATM fees reached a record high. 

By Rajashree Chakravarty • Sept. 5, 2023

JPMorgan processed $1B for Epstein: USVI lawyer

The lender, which the U.S. Virgin Islands is suing for $190 million, was “a full service bank for Jeffrey Epstein’s sex trafficking,” lawyer Mimi Liu said in a hearing Thursday, according to Reuters.

By Gabrielle Saulsbery • Sept. 1, 2023

Goldman, regional bank warnings show the Fed is now playing offense

The central bank has requested action from Citizens, Fifth Third and M&T regarding capital, liquidity, technology and compliance, according to Bloomberg. Goldman’s fintech partnerships are reportedly under scrutiny, too.

By Dan Ennis • Aug. 31, 2023

Goldman to pay $5.5M CFTC fine over alleged recordkeeping failures

Software issues caused the bank to fail to record thousands of phone calls, violating recordkeeping rules and a prior cease-and-desist order, the agency said.

By Gabrielle Saulsbery • Aug. 30, 2023

FDIC should have voted on First Republic sale, board member says

Such a move would ensure no value is left on the table, Jonathan McKernan said. Other board members voiced concerns the process would take too long or be overly complex.

By Anna Hrushka • Aug. 30, 2023

Regulators want banks to hold more debt to shield against failures

Under the proposal, large banks would be required to maintain a minimum amount of eligible long-term debt equal to 3.5% of average total assets or 6% of risk-weighted assets, whichever is higher.

By Anna Hrushka • Aug. 29, 2023

Oklahoma bank to pay $1.15M to settle DOJ redlining probe

American Bank of Oklahoma cooperated in the investigation but bristled at the agency's references to the Tulsa Race Massacre in its statement.

By Dan Ennis • Aug. 29, 2023

SVB’s top supervisor at SF Fed to retire

The central bank outpost did not comment on the timing of Azher Abbasi’s departure. Niel Willardson, a longtime Minneapolis Fed official, will succeed Abbasi in the role.

By Dan Ennis • Aug. 29, 2023