FTX’s legal team has its hands full

The bankrupt crypto exchange is fighting court battles on multiple fronts, and former CEO Sam Bankman-Fried’s attorneys say the U.S. government is overdue to supply evidence in its case against him.

By Gabrielle Saulsbery • June 7, 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

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

UBS could close Credit Suisse deal next week

The Swiss bank may delay its second-quarter results until the end of August to give investors a clearer update on its plans for Credit Suisse’s domestic business, the Financial Times reported.

By Rajashree Chakravarty • 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

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

Payments fraud climbs as banks reach for joint response

Financial institutions and payments players are seeking to coalesce around new efforts to battle skyrocketing payments fraud.

By Lynne Marek • May 26, 2023

LGBTQ+ fintech Daylight to close its doors

Customer money can be accessed for transfer until June 30, the company's last day of banking operations, CEO Rob Curtis said in a blog post.

By Rajashree Chakravarty • May 25, 2023

First Horizon investor sues TD over scrapped $13.4B deal

The Arbitrage Fund asserts TD misled investors regarding its anti-money laundering practices and regulator resistance to the tie-up, which the banks terminated this month.

By Dan Ennis • May 24, 2023

PacWest to sell $2.6B in real estate loans

Real estate investment firm Kennedy-Wilson has agreed to buy a portfolio of 74 loans at a discounted price as PacWest tries to bolster its liquidity amid regional bank turmoil.

By Rajashree Chakravarty • May 23, 2023

Crypto company offers 6 months of free custody for female-founded firms

Clear regulations will bring more women into the space, Aegis Custody CEO Serra Wei said.

By Gabrielle Saulsbery • May 19, 2023

Warren blasts First Republic’s ‘troubling’ sale to JPMorgan

The senator criticized the OCC’s role in approving the deal, saying it failed to factor in an assessment methodology that estimates the impact a lender would have on the economy if it were to fail.

By Anna Hrushka • May 19, 2023

Ex-First Republic chief blames contagion for bank’s failure

“Instead of dealing with temporary decreased earnings due to interest rate pressures, First Republic was contaminated overnight,” former CEO Michael Roffler told House lawmakers.

By Dan Ennis • May 17, 2023

6 suggestions the Fed’s Michael Barr has for banks, supervisors

The central bank's supervision czar laid out his recommendations for capital requirements, a culture shift promoting quicker action by regulators, and a host of other tweaks.

By Dan Ennis • May 16, 2023

SVB, Signature Bank execs testify before Senate panel

Tuesday’s hearing marks the first time executives from the two collapsed firms appeared in a public setting.

By Anna Hrushka • May 16, 2023

No need for higher bank capital requirements: Fed’s Bowman

The central bank governor recommended an independent review of Silicon Valley Bank’s failure but no new regulation.

By Rajashree Chakravarty • May 12, 2023

Banking industry turmoil could spur M&A, experts say

Regional lenders may turn to M&A to survive the turmoil. Meanwhile, JPMorgan’s First Republic buy has fueled speculation that regulators are viewing consolidation in a different light.

By Anna Hrushka • May 12, 2023

FDIC wants large banks to cover $15.8B hit to insurance fund

The regulator estimated 113 banks would be subject to the special fee, while more than 4,000 smaller institutions would be spared.

By Anna Hrushka • May 11, 2023

Investor sues JPMorgan, execs over Epstein ties

A pension fund said the bank “has suffered and will continue to suffer substantial monetary and reputational harm” for its failure to report suspicious activity in the late convicted sex offender’s account.

By Dan Ennis • May 10, 2023

US arm of crypto exchange Bittrex files for bankruptcy

The company ceased U.S. operations in April, the same month it was charged by the SEC for allegedly operating an unregistered exchange.

By Gabrielle Saulsbery • May 9, 2023

PacWest or Pacific West?: Curbing name confusion, Take 2

An Oregon lender distances itself from the troubled regional with two website notices and a press release.

By Dan Ennis • May 5, 2023

Senate panel to hold cannabis banking hearing

Lawmakers behind the latest version of the SAFE Banking Act say the revised text addresses the social equity issues that some key Senate Democrats say the legislation has lacked in previous years.

By Anna Hrushka • May 5, 2023

Feds probe Goldman’s dealings with SVB in lead-up to collapse

The investment bank was both a buyer of SVB’s bond portfolio and adviser of its failed capital raise in the days ahead of the regional lender’s collapse in March.

By Anna Hrushka • May 4, 2023

Sen. Brown urges FDIC to review Tellus’ business practices

The Senate Banking Committee chair voiced concern over the fintech’s high-interest savings accounts that are not insured by the regulator.

By Rajashree Chakravarty • May 3, 2023

How Capital One is democratizing machine learning to curb fraud

The bank found opportunities for cross-unit collaboration, using tech to spot potential fraud more efficiently.

By Roberto Torres • May 2, 2023

FDIC proposes higher insurance coverage for payroll accounts

Under the agency’s targeted coverage scenario, accounts used for payment purposes — specifically, business payment accounts— would merit higher deposit insurance coverage.

By Anna Hrushka • May 2, 2023