Judge denies move to reduce Ripple’s penalty in SEC case

The parties failed to “address the heavy burden” involved in vacating an injunction, choosing to couch their agreement as a settlement to be approved rather than a request for relief, Judge Analisa Torres said Thursday.

By Dan Ennis • May 16, 2025

Fed drops enforcement action against Illinois bank

The central bank flagged deficiencies at Du Quoin State Bank in 2023 and directed the lender to improve capital, liquidity and interest rate risk management.

By Rajashree Chakravarty • May 15, 2025

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

Lawmaker seeks probe into Ramp’s bid for $25M GSA contract

Rep. Gerry Connolly, D-VA, is looking into the GSA’s contractor selection process to work on the SmartPay program, alleging an agency employee called the fintech the “favorite” to win the contract.

By Rajashree Chakravarty • May 14, 2025

CFPB seeks to rescind registry of nonbank repeat offenders

The NBR rule is “not necessary as a tool to effectively monitor and reduce potential risks to consumers from bad actors,” according to Acting Director Russ Vought.

By Gabrielle Saulsbery • May 14, 2025

Warren prods DOJ to sue to block Capital One-Discover deal

The senator urged the Justice Department’s new antitrust czar, who's expressed a general concern over the creation of too-big-to-fail firms, to “back [her] words with action.”

By Dan Ennis • May 14, 2025

CFPB rescinds 67 pieces of guidance

The rescissions are not final and will allow the bureau to evaluate whether each of the items was statutorily prescribed, CFPB Acting Director Russ Vought said.

By Gabrielle Saulsbery • May 12, 2025

Ex-Wells exec sues Fed for deferred compensation

James Richards’ restricted share rights were denied in March, arguably over Wells Fargo’s “troubled condition” and whether the annual awards were “golden handcuffs” or a “golden parachute.” 

By Rajashree Chakravarty • May 12, 2025

Trump to scrap McKernan’s CFPB nod for Treasury post

Jonathan McKernan’s nomination to lead the CFPB had been awaiting Senate confirmation. Instead, the president will nominate him to serve in a Treasury Department role.

By Caitlin Mullen • May 12, 2025

Trump signs resolution to nix CFPB overdraft rule

The move overturns the bureau’s effort to cap overdraft fees at $5. The American Bankers Association also dropped its lawsuit regarding the rule.

By Dan Ennis • May 12, 2025

Ripple would get $75M back under SEC settlement

The agreement must get sign-off from a federal judge, among other next steps. A Democratic commissioner at the SEC, however, said the deal would mark a “tremendous disservice” to the law.

By Dan Ennis • May 9, 2025

Stablecoin bill falters in Senate

Democrats demanded fixes to the GENIUS Act – designed to create a framework for bringing stablecoins into the U.S. financial system – and raised concerns about Trump’s ties with crypto ventures.

By Rajashree Chakravarty • May 9, 2025

Lawmakers press Bessent on CDFI cuts

“If CDFIs follow their statutory obligations and do not digress into more ideological boundaries ... they can be important institutions,” the Treasury secretary told legislators Wednesday.

By Caitlin Mullen • May 8, 2025

Senate votes to overturn OCC ban on expedited merger review

A similar resolution pending in the House would reverse a rule toughening the approval process – just as opponents of the Capital One-Discover deal say the green light came too easily. 

By Dan Ennis • May 8, 2025

Maxine Waters walks out of digital asset hearing

House Democrats’ walkout blocked the hearing from taking place. They cited concerns over the president’s and his family’s ties to digital asset businesses. 

By Rajashree Chakravarty • May 7, 2025

Senators re-up bill requiring independent Fed IG

Sens. Elizabeth Warren, D-MA, and Rick Scott, R-FL, faulted recently retired Fed IG Mark Bialek for failing to address central bank “corruption,” underscoring the need for “structural changes” to the role.

By Caitlin Mullen • May 7, 2025

Bowman nod for Fed supervision czar advances to full Senate

The Senate Banking Committee voted 13-11 along party lines to pass the nomination to the full chamber. A key Democrat reiterated her concerns over Bowman’s stance on tariffs, mergers and climate.

By Dan Ennis • May 7, 2025

Credit Suisse pleads guilty to tax crimes, agrees to pay $511M

The lender now owned by UBS pleaded guilty to conspiring to hide more than $4 billion from the IRS in at least 475 offshore accounts.

By Rajashree Chakravarty • May 6, 2025

Treasury’s Bessent: Private credit surge underscores need for bank deregulation

“The growth of private credit tells me that the regulated banking system has been too tightly constrained,” Scott Bessent said Monday.

By Caitlin Mullen • May 6, 2025

HSBC pressed on net zero by $1.6 trillion investor group at annual meeting

Some 30 investors called on the bank to “urgently affirm” its commitment to its climate goals and prioritizing net-zero emissions across its operations.

By Zoya Mirza • May 6, 2025

CFPB agrees to dismiss appeal in UDAAP lawsuit

The CFPB and seven trade groups filed paperwork in the Fifth Circuit to end litigation related to an update the agency made to its exam manual in 2022.

By Rajashree Chakravarty • May 5, 2025

CFPB says it won’t enforce small-biz data collection rule

The bureau cited resource constraints and fairness, adding that it would focus on “pressing threats.” One opponent said the CFPB “can't simply gut rules by press releases on its whim.”

By Dan Ennis • May 2, 2025

NCUA’s Harper: Firings laying groundwork for Fed dismissals

“I think they’re chipping away, so that they can get to the Federal Reserve Board,” the former NCUA chair said Thursday of his and a fellow board member’s dismissal by the Trump administration.

By Caitlin Mullen • May 2, 2025

Dive Deposits: 4 reminders that it’s not 2022 anymore

The closure of Citi’s we-hardly-knew-ye office in Málaga, Spain – combined with moves to preserve overdraft fees and toughen in-office requirements – make it clear that if 2025 threw a party, 2022 would not be invited.

By Dan Ennis • May 1, 2025

Relaxed regulatory oversight spurs bank-crypto activity

Since January, federal bank regulators have done an about-face on crypto guidance, inspiring banks to explore the space.

By Gabrielle Saulsbery • April 30, 2025

Warren, Chopra warn of ‘real price to pay’ on DOGE

The former CFPB director pointed to a rise in uninsured deposits amid recent market turmoil.

By Caitlin Mullen • April 29, 2025