FDIC OIG report underscores attrition, brain drain concerns at regulator

Skill loss is a key risk as examiners leave the FDIC, “especially those with advanced IT skillsets who examine risks at the most complex banks,” the watchdog’s report said.

By Caitlin Mullen • March 21, 2025

Western Alliance breach exposes 22K customers’ data

The October incident, involving a vulnerability in third-party software, went undetected for three months. The Phoenix, Arizona-based lender then took 46 days to disclose it.

By Dan Ennis • March 21, 2025

Explore the Trendline➔

Fraud and AML in banking

The past year has been one of reckoning with regard to fraud — from TD’s $3 billion AML penalty to the continuing punitive phase connected to PPP misdeeds, crypto bankruptcies and pig butchering.

By Banking Dive staff

Bank transfer fraud losses outpace crypto

The value of fraud losses last year was highest for bank transfers and payments, followed by cryptocurrency transactions, according to a report from the Federal Trade Commission released last week.

By Lynne Marek • March 21, 2025

Bank customers want clearer communication on cybersecurity: survey

Static, bare-bones website text about information security is “not enough anymore,” an Accenture executive said. A survey by the company found that customers trust banks – but not third-party partners – with their data.

By Caitlin Mullen • March 20, 2025

Citi shrinks execs’ bonuses over tech revamp

Senior leaders were paid just 68% of 2024’s target, the bank said in a proxy filing, citing slower progress on regulatory issues.

By Caitlin Mullen • March 19, 2025

Trump Organization lawsuit raises questions on Capital One-Discover deal

Capital One needs three U.S. approvals to proceed with its $35.3 billion purchase of Discover. Could a Trump Organization lawsuit against the bank spell trouble?

By Justin Bachman • March 18, 2025

US banks turn to SEC to dodge climate, social shareholder proposals

The agency has largely denied the requests, ruling that banks must put the requests to disclose its clean energy financing ratios and indigenous rights practices to a vote.

By Lamar Johnson • March 17, 2025

Webster eyes $100B threshold, invests in hiring and tech

The Connecticut-based bank aims to hire about 200 people this year, including adding about two dozen technology and cybersecurity employees, Webster’s CIO said.

By Caitlin Mullen • March 14, 2025

NYDFS chief details changes spurred by Signature failure

The regulator implemented new escalation protocols and an operational stress testing exercise to keep a closer eye on the “C students” under its watch, Adrienne Harris said Tuesday.

By Caitlin Mullen • March 12, 2025

Pathward CEO: Regulatory scrutiny of BaaS ‘just getting started’

Regulators will keep BaaS under the microscope, continuing to put pressure on the space and contributing to fewer banks in the space, expects Brett Pharr, the bank’s CEO.

By Caitlin Mullen • March 12, 2025

Wells Fargo sues JPMorgan over $481M CRE loan

JPMorgan failed to conduct due diligence on the commercial real estate loan, then quickly offloaded the risk, “taking home millions of dollars of fees in the process,” Wells asserted.

By Caitlin Mullen • March 11, 2025

FDIC OKs Rhode Island bank’s wind-down plan

Independence Bank was ordered to pay $3.5 million in restitution after the lender allegedly charged illegal fees for Small Business Administration 7(a) loans, causing the agency to lose roughly $8.8 million.

By Caitlin Mullen • March 5, 2025

TD’s US CEO sees pay cut but gets $2M award

Vesting of the award to Leo Salom “is subject to meeting [anti-money laundering] remediation conditions and milestones,” the bank's compensation committee wrote.

By Gabrielle Saulsbery • March 5, 2025

Wells Fargo scraps net-zero target

The bank is dropping its goal of achieving net-zero financed emissions across its portfolio by 2050, in addition to 2030 targets it set for sector-specific financed emissions.

By Zoya Mirza • March 3, 2025

CFPB ex-enforcement chief shares concerns at lawmaker forum

Democratic senators, led by Elizabeth Warren, blasted DOGE’s infiltration of the agency, highlighting potential conflicts of interest and a drop in responses to consumer complaints.

By Dan Ennis • Feb. 26, 2025

Fed’s Barr: Race to tap generative AI exacerbates risks

As more nimble nonbanks employ a “risk-forward” attitude toward generative AI, the Fed’s outgoing vice chair for supervision called for monitoring how the technology’s introduction alters banking.

By Caitlin Mullen • Feb. 19, 2025

Warren, Schiff ask CFPB to oust DOGE

The senators want the bureau to turn over communications between DOGE and CFPB officials, and to detail what enforcement or competitor data billionaire Elon Musk can access because of DOGE's work.

By Dan Ennis • Feb. 19, 2025

HSBC delays net-zero emissions goal by 20 years

The U.K.-based bank said it was “revising [its] ambition” and delaying its target of hitting net-zero across its operations, business travel and supply chain from 2030 to 2050.

By Zoya Mirza • Feb. 19, 2025

Capital One, Discover shareholders approve merger

Stockholders of the two companies Tuesday approved the deal, which still awaits sign-off from the Federal Reserve and OCC.

By Patrick Cooley • Feb. 19, 2025

JPMorgan: Climate change should factor into ‘daily decision-making’

Investments and innovation in climate technology have increased, but “changes in leadership, economic conditions and ... stagnation” have stalled progress, a bank executive wrote.

By Zoya Mirza • Feb. 18, 2025

Truist, Zelle execs and others discuss approaches to fraud

A Truist executive advocated for more information sharing to combat push-payment fraud, an issue another participant in a panel discussion last week called a “national challenge.”

By Lynne Marek • Feb. 18, 2025

Waller sees stablecoins advancing in retail

Stablecoins are seeping into payments at stores, but there are plenty of hurdles before they become widely used, according to Federal Reserve Governor Christopher Waller.

By Lynne Marek • Feb. 18, 2025

Why the rampant underreporting of fraud? Shame, panelists say

Push-payment scams are at a "crisis level," consumer advocates at a Banking Dive event said, with losses totaling perhaps more than 15 times what's reported.

By Gabrielle Saulsbery • Feb. 12, 2025

‘Taking stock’: BofA and JPMorgan execs weigh in on Trump 2.0

While Bank of America CEO Brian Moynihan called the recent regulatory shift “classic re-engineering,” one peer exec said the changes “are taking all the oxygen in the room.”

By Caitlin Mullen • Feb. 12, 2025

Warren calls for probe of FDIC rescinding job offers

Sen. Elizabeth Warren and three other senators called on the FDIC Office of Inspector General to look into the agency’s move to withdraw bank examiner job offers, given the staffing challenges the FDIC already faced.

By Caitlin Mullen • Feb. 11, 2025