Citi names next chief compliance officer

Tom Anderson, who now serves as chief compliance officer for the bank's personal banking and wealth management division, returned to Citi last year after stints at American Express and JPMorgan Chase.

By Robin Bradley • Updated May 12, 2022

Fed signs off on M&T-People’s United deal

The nonprofit Better Markets called out the central bank's late-Friday approval, citing what it labeled a "disturbing pattern" of releasing crucial news at times when relatively few are paying attention.

By Dan Ennis • March 7, 2022

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

Fed's Powell looks to stay above the fray

Senate and House lawmakers couldn't resist addressing stalled Fed nominations during the central bank leader's hearings on monetary policy. The White House on Friday doubled down on its stance.

By Dan Ennis • March 4, 2022

Fed troubleshoots 'master account' issue

The central bank pushed a tiered approach offering stricter reviews for fintechs seeking access to the Fed's payment system. An ethical gray area there has contributed to a stall in nominations at the Fed.

By Dan Ennis • March 2, 2022

EU to restrict 7 Russian banks from SWIFT

The sanctions reportedly won't include Sberbank, which said Wednesday it would pull out of the European market. The Single Resolution Board is liquidating the lender's Austria-based unit while others have been sold.

By Dan Ennis • March 2, 2022

WhatsApp scandal's specter rises again

Citi, Goldman Sachs and HSBC all warned, in their annual reports, that the SEC and CFTC are investigating banks' record-keeping of communications through private platforms.

By Dan Ennis • March 1, 2022

US expands Russia sanctions to Sberbank, Gazprombank executives

The new round of sanctions, levied against the nation for its ongoing war against Ukraine, also includes limits on three Russian television stations.

By Dan Ennis • Updated May 9, 2022

Citi becomes largest US bank to eliminate overdraft fees

The bank is set to supplant Capital One over the summer as the largest U.S.-based financial institution to do away with the fees.

By Robin Bradley • Feb. 25, 2022

US extends sanctions to Russia's 2 largest banks

Russia's access to the SWIFT financial messaging service remains intact for now, a move that sparked criticism from both Democrats and Republicans. But President Joe Biden said he wouldn't eliminate that option.

By Dan Ennis • Feb. 25, 2022

US banks brace for stricter sanctions against Russia

The Russian banks the U.S. targeted Tuesday account for only 5% of the country's total bank assets.

By Robin Bradley • Feb. 24, 2022

Ex-Goldman banker's 1MDB trial paused over late-breaking evidence

Prosecutors said they learned Tuesday night that a Justice Department unit did not share with them or Roger Ng's defense lawyers 15,500 documents belonging to the government's star witness in the case.

By Dan Ennis • Feb. 24, 2022

To freeze or not to freeze (bank execs' variable pay)?

Barclays and Goldman Sachs offer differing perspectives on when to withhold unvested but conditional compensation.

By Dan Ennis • Feb. 23, 2022

Washington policymakers spout off on CBDCs

A Friday speech by Fed Gov. Lael Brainard and a Feb. 7 report from the Congressional Research Service underscore the U.S. government's rising interest in a digital dollar.

By Lynne Marek • Feb. 22, 2022

M&T, People’s United delay merger timeline as Citizens winds up HSBC deal

Buffalo, New York-based M&T becomes the latest bank to change its plans amid lagging approval from the Fed.

By Dan Ennis • Feb. 22, 2022

Flex work in 2022 may mean chucking your title

Where Citi became 2021's poster bank for hybrid schedules, UBS is looking to streamline by making employees known more for their functions than by their place in a pecking order.

By Dan Ennis • Feb. 18, 2022

Banking panel Republicans skip vote on Fed nominees

Sen. Pat Toomey, R-PA, cited Sarah Bloom Raskin's "revolving door" conduct in a statement on the boycott. Democrats said they would reschedule the vote for the five nominees.

By Dan Ennis • Updated Feb. 25, 2022

SPAC to buy cannabis banking leader Safe Harbor in $185M deal

Safe Harbor spun off from Partner Colorado Credit Union in July and launched a commercial pot lending platform in late 2021. CEO Sundie Seefried will lead the combined organization.

By Robin Bradley • Feb. 15, 2022

TD freezes $1.1M in donations to Canada protesters

The bank idled two personal accounts after GoFundMe said it would return millions meant to cover food, fuel and expenses for activists snarling traffic in the name of cross-border truckers bemoaning COVID vaccine mandates.

By Robin Bradley • Feb. 14, 2022

Crypto lender BlockFi to pay $100M to settle with SEC, states

The company agreed to stop selling its interest-bearing account in the U.S. and launch a new one tailored to the Securities Act of 1933. Half of the settlement money will go to the SEC. The other $50 million will be split among 32 states.

By Dan Ennis • Feb. 14, 2022

The Fed can't seem to get a step ahead

The central bank revamped stock-trading rules. Nominees for Fed governor roles signed an ethics pledge. And yet new financial disclosure revelations deepen the Fed's PR nightmare.

By Dan Ennis • Feb. 11, 2022

CFTC chief eyes greater authority in crypto oversight

CFTC Chair Rostin Behnam asked a Senate panel for an extra $100 million and the authority to police the cash market for digital assets, in addition to its traditional role overseeing derivatives.

By Robin Bradley • Feb. 10, 2022

Fed nominees agree to ethics pact amid 'revolving door' allegations

The pledge comes after a Republican senator questioned Sarah Bloom Raskin's role in regard to a master account a fintech received. Meanwhile, the Boston Fed picked its next president.

By Dan Ennis • Feb. 10, 2022

Subprime lender Elevate to pay more than $3.75M to end D.C. interest rate suit

The lender, which was flagged to the FDIC by consumer advocates last week, along with its partner banks, also agreed to waive more than $300,000 in past-due interest fees owed by D.C.-based customers.

By Dan Ennis • Feb. 9, 2022

House lawmakers spar over stablecoin regulation

"Simply labeling something as stable or overly relying on a one-to-one ratio does not, in itself, mean it maintains a stable value," House Financial Services Committee Chair Maxine Waters, D-CA, said Tuesday.

By Jonathan Berr • Feb. 9, 2022

Senators probe allegations of JPMorgan 'robo-signing' in debt collection

A CFPB consent order barring the bank from that practice expired in 2020, but a ProPublica report alleges JPMorgan has resumed an "affidavit-signing assembly line."

By Robin Bradley • Feb. 8, 2022