Risk: Page 2


  • A New York Community Bank branch location is shown
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    Spencer Platt / Staff via Getty Images
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    NYCB posts $335M loss, but shares jump on turnaround plan

    CEO Joseph Otting said the lender has “identified an opportunity” to sell $5 billion in assets but declined to share details until a deal is final.

    By May 1, 2024
  • TD Bank at One Vanderbilt
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    TD sets aside $450M for AML penalties

    The amount, however, is meant to cover the fine from just one of the three U.S. regulators investigating the bank's anti-money laundering systems.

    By May 1, 2024
  • Trendline

    Fraud and AML in banking

    It’s not just big banks like Citi and TD that face stiffer AML oversight from regulators. The FDIC is looking closely at banks offering BaaS alongside fintechs.

    By Banking Dive staff
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    Creative via Getty Images
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    Q&A

    Republic First not alone in feeling unrealized losses: analyst

    “There will be banks that have similar problems to this,” necessitating an infusion of capital or a sale, said Robert Hartheimer, an FDIC veteran who now works at consulting firm Klaros Group.

    By May 1, 2024
  • A New York Community Bank branch location is shown
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    Spencer Platt / Staff via Getty Images
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    NYCB postpones annual meeting by 2 weeks

    The bank, at the time of the delay, had yet to say when it would report first-quarter results. Those are coming Wednesday.

    By April 30, 2024
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC hits Alabama, Oklahoma banks with consent orders

    In separate orders, the regulator said the banks must step up their anti-money laundering compliance programs and ensure their related training programs are sufficient.

    By April 29, 2024
  • The exterior of a Citizens Bank is pictured.
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    Kate Tornone/Banking Dive
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    Citizens Bank funds green jobs program for New York’s offshore wind sector

    The bank’s philanthropic arm will commit $600,000 over two years to financially support Brooklyn-based youth in pursuing careers in the renewable energy sector.

    By Zoya Mirza • April 29, 2024
  • A side view of a JPMorgan city office building
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    Chris Hondros via Getty Images
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    Russian court orders seizure of nearly $440M in JPMorgan funds

    The ongoing legal battle between state-owned VTB Bank and the largest U.S. bank revolves around funds frozen in the wake of Russia’s invasion of Ukraine and subsequent sanctions.

    By April 25, 2024
  • fintech graphic
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    Getty Images/Staff via Getty Images
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    Synapse signs deal with TabaPay, files for bankruptcy

    TabaPay has set a purchase price of $9.7 million to acquire Synapse's assets — a deal that is pending court approval.

    By April 24, 2024
  • First Internet Bank
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    First Internet Bank CEO talks M&A, BaaS work

    After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.

    By April 24, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Win McNamee / Staff via Getty Images
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    For Capital One and Discover, the 4th time may have been the charm

    Discover rebuffed three Capital One pitches before agreeing to a deal, and talks halted for seven weeks, an SEC filing indicates.

    By April 22, 2024
  • The Office of the Comptroller of the Currency's seal hangs on a brick building.
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    Permission granted by Office of the Comptroller of the Currency
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    OCC fines ex-CEO, founder of Michigan’s Sterling Bancorp

    The executives were each ordered to pay civil penalties related to a troubled loan program the bank ran between 2011 and 2019.

    By April 19, 2024
  • A sign for Discover Financial Services
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    Scott Olson via Getty Images
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    Discover puts $799M more toward card misclassification issue

    The card network opted to increase the card misclassification remediation reserve based in part on discussions with regulators, executives said Thursday.

    By April 18, 2024
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    Michael M. Santiago via Getty Images
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    Pathward to pay refunds, penalty tied to NY AG investigation

    The bank, a frequent partner to fintechs, froze customer accounts and transferred money to debt collectors, violating state law, the NY AG’s office said.

    By April 17, 2024
  • Wells Fargo CEO Charlie Scharf
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    Drew Angerer / Staff via Getty Images
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    Wells Fargo CEO Scharf details asset cap limitations

    When the cap is removed, the CEO anticipates Wells can further invest in its consumer or wealth businesses, build out its product offerings and be more aggressive on lending and deposits.

    By April 16, 2024
  • A Capital One sign is seen
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    Joe Raedle / Staff via Getty Images
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    Capital One shareholders urged to approve scope 3 target-setting proposal

    The New York State Common Retirement Fund said the targets are necessary to fully assess the bank’s climate risk exposure and mitigation strategies.

    By Lamar Johnson • April 15, 2024
  • Bank of America's logo on a building façade
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    Mario Tama / Staff via Getty Images
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    Q&A

    BofA evolves AI-powered assistant toward deeper digital integration

    Six years into the Erica era, customers are taking advantage of the tool's insights as often as they're asking questions of it, said Nikki Katz, the bank's head of digital.

    By April 15, 2024
  • Sam Bankman-Fried
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    Michael M. Santiago via Getty Images
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    Bankman-Fried files to appeal conviction, sentence

    In an email interview following his sentencing, the FTX founder told ABC News he’s “haunted, every day, by what was lost. I never intended to hurt anyone or take anyone’s money.”

    By April 12, 2024
  • The Wall Street sign in the Financial District of Lower Manhattan in New York City.
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    hapabapa via Getty Images
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    Citi’s reorg job toll climbs to 7,000: Fraser

    The bank boosted its expectation for annual savings to $1.5 billion. Meanwhile, Citi, Wells Fargo and JPMorgan Chase reported marked increases in FDIC special assessment costs.

    By April 12, 2024
  • Martin Gruenberg addresses the Senate Banking Committee.
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    Win McNamee via Getty Images
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    Gruenberg: FDIC knows how it would wind down a G-SIB

    Until the FDIC and regulators are tasked with a G-SIB wind-down, and until they do so successfully, questions will arise “as to whether it can be done,” the agency chief said.

    By April 11, 2024
  • KeyBank branch
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    Courtesy of KeyBank
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    KeyBank scouts for fintech partners

    The bank, which has yet to strike a fintech partnership this year, generally enters into one to two each year, said Ken Gavrity, president of Key Commercial Bank.

    By April 10, 2024
  • Mountains with high-rise buildings in the foreground.
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    Sean Pavone via Getty Images
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    Utah Ponzi scheme case envelops bank executive

    Bank of Utah’s vice president and senior trust officer knowingly disregarded fraudulent activity and divulged protected financial information, a lawsuit asserts.

    By April 9, 2024
  • JPMorgan Chase CEO Jamie Dimon
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    Win McNamee / Staff via Getty Images
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    Dimon blasts regulation, proxy advisers in annual letter

    The JPMorgan Chase CEO also gave prominent space to AI, touting its potential impact in software engineering, customer service and operations, “as well as in general employee productivity."

    By April 8, 2024
  • RBC
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    Matt Cardy via Getty Images
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    RBC joins Citi, JPMorgan in disclosing green financing ratios

    Shareholder proposals put forward by New York City’s retirement system have been pulled at all three banks, the city's comptroller, Brad Lander, said this week.

    By Lamar Johnson • April 5, 2024
  • Outside shot of Citigroup HQ with a sign with the Citi logo in the shot
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    Mario Tama via Getty Images
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    Citi says 71% of energy clients lack substantive transition plan or ‘ability to execute’

    The bank made the disclosure in its latest climate report in response to a proposal that had been issued by shareholder advocacy group As You Sow.

    By Lamar Johnson • April 1, 2024
  • Larry Fink, CEO of BlackRock, speaks at a roundtable discussion.
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    Sean Gallup via Getty Images
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    Mississippi hands BlackRock cease-and-desist order over ESG investments

    BlackRock risks a “multimillion-dollar penalty” from the state’s Securities Division, which “has uncovered thousands of potential violations,” Mississippi's secretary of state’s office said.

    By Lamar Johnson • March 29, 2024