The Latest

  • Ken Paxton giving a speech with both of his hands raised in front of his chest
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    Brandon Bell/Getty Images via Getty Images
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    Texas AG drops probe of major US banks after exodus from climate alliance

    State Attorney General Ken Paxton said Texas will end its ongoing review of Bank of America, Morgan Stanley and JPMorgan Chase following the banks’ exits from the Net-Zero Banking Alliance.

  • Federal Reserve Governor Michelle Bowman stands behind a podium and speaks.
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    Federal Reserve. (2024). [Photo]. Retrieved from Flickr.
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    Barr’s likely replacement advocates for ‘pragmatic’ approach

    In a speech Thursday, Federal Reserve Gov. Michelle Bowman appeared to preview her approach if she’s the incoming president’s pick as vice chair for supervision, calling for more “discipline” with policymaking.

  • People pass the JPMorgan Chase & Co. headquarters on the street.
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    Spencer Platt via Getty Images
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    JPMorgan sues 4 Viva Wallet execs, fintech’s majority owner

    The bank alleges Viva CEO Haris Karonis and others deprived JPMorgan of “the value of its investment” through illegal actions.

  • Shot of Morgan Stanley logo
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    Mario Tama via Getty Images
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    Column

    Dive Deposits: Morgan Stanley’s MD promotions don’t set records, they follow the herd

    While Citi, BofA and Goldman touted their biggest cohorts of managing directors in years, Morgan Stanley elevated greater numbers in 2022 and 2023. But the banks appear in lock-step on other value markers.

  • CFPB Director Rohit Chopra participates in a meeting of the Financial Stability Oversight Council at the U.S. Treasury
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    Kevin Dietsch via Getty Images
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    CFPB brings back sandbox but keeps competition emphasis

    The bureau’s policies restore the no-action letter and sandbox designation, but feature some tweaks aimed at correcting past “shortcomings.”

  • The exterior of the USAA headquarters building is shown.
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    Courtesy of USAA
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    USAA picks board member Andrade as next CEO

    Juan Andrade will succeed Wayne Peacock as the financial institution’s president and CEO starting April 2. Peacock announced his retirement in August.

  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Ally lays off hundreds of employees

    The bank also announced plans to exit the mortgage origination business this quarter. Ally is exploring strategic alternatives for its credit card business.

  • Bank plaque pictured on a city building housing a financial company.
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    Pgiam via Getty Images
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    6 banking trends to watch in 2025

    Donald Trump’s return to the White House is expected to make an impression on a number of facets in banking – from regulation to M&A to crypto.

  • A sign reads "Wells Fargo" with the bank's logo below.
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    Michael M. Santiago / Staff via Getty Images
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    Q&A

    How Wells Fargo aims to boost trust among underbanked

    The bank has been focused on providing services that are “in language and in culture” to foster trust and transparency, said Michael Martino, head of Wells’ inclusion initiative.

  • Finance business investment data analytics strategy report, crypto currency blockchain stock exchange graph chart and business man in suit typing on keyboard computer, financial and technology.
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    Getty Images via Getty Images
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    CFPB picks FDX to set open banking standards

    The nonprofit will craft standards for consumer data sharing between financial institutions for the next five years.

  • An exterior shot of the Department of Justice building shows the words "Department of Justice" and an American flag flying above.
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    Kevin Dietsch / Staff via Getty Images
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    Fintech Dave alters fee structure, blasts DOJ over amended lawsuit

    The cash advance online platform called the lawsuit “a continued example of government overreach.”

  • Crypto regulation
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    Leon Neal via Getty Images
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    Judge stays Coinbase, SEC case

    Judge Katherine Polk Failla granted Coinbase an interlocutory appeal, leading to a stay, so another court can decide one of the most pressing questions in crypto.

  • Chris Walters, Simon Paris, Finastra CEO
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    Retrieved from from PR newswire on January 08, 2025
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    Finastra taps new CEO

    Chris Walters will succeed Simon Paris, the current CEO of the London-based software firm, who announced Monday he is stepping down from his role.

  • Raymond Chun, TD executive, poses for a photo wearing a suit and tie
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    Courtesy of TD
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    TD’s next CEO talks about AML fiasco

    Raymond Chun, appearing Tuesday at an investor conference, said the bank’s AML debacle underscored the importance of talent and external benchmarking.

  • A closeup of JPMorgan Chase's headquarters in New York.
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    Michael M. Santiago via Getty Images
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    JPMorgan becomes latest major US bank to exit NZBA

    The bank’s departure from the Net-Zero Banking Alliance follows the exits of five other major U.S. banks from the climate coalition in the past month.

  • New BNY logo, rebranding
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    Courtesy of BNY Mellon newsroom
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    Column

    Dive Deposits: Is BNY trying to out-BofA Bank of America?

    The U.S.’s oldest bank beat Bank of America to a $25-per-hour pay floor – and is touting its rank-and-file stock offerings and well-being improvements in what’s quickly becoming an annual answer to the Charlotte lender’s PR efforts.

  • Michael Barr, Federal Reserve Board official, speaks during a Congressional hearing as other people sit behind him.
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    Alex Wong / Staff via Getty Images
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    Fed’s Barr to step down as vice chair for supervision

    Michael Barr will continue to serve on the Federal Reserve’s board of governors, the central bank said Monday.

  • A person wearing a blue hat and light t-shirt walks past a KeyBank branch location, as the glass reflects the street scene.
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    Spencer Platt / Staff via Getty Images
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    KeyBank grants top execs $16.7M in equity awards after Scotia deal

    CEO Chris Gorman could receive up to $11.35 million if the bank outperforms targets for capital requirements, CET1 and earnings per share. Scotiabank also named two directors to the bank’s board last week.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC asked for crypto ‘pause,’ not debanking, unredacted letters show

    Letters released Friday tied to a court case between Coinbase and the FDIC show that the regulator asked banks to pause crypto-related activities, but did not tell banks to stop serving crypto firms.

  • "Credit Suisse" signage hangs below a building archway.
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    Arnd Wiegmann / Stringer via Getty Images
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    Credit Suisse had more Nazi-linked accounts than previously known: probe

    The Swiss bank engaged in a “pattern of obstruction” by not sharing some information during past investigations into the lender’s ties to Nazis, the Senate Budget Committee said.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    Kansas bank challenges $20M FDIC penalty

    CBW Bank, charged with failing to maintain adequate anti-money laundering controls, has filed a lawsuit challenging the agency’s action, calling the penalty “unreasonable and unprecedented for a bank of this size.”

  • bank of america flag waving in Charlotte
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    Davis Turner/Stringer via Getty Images
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    Bank of America buys $990M in multifamily loans from HomeStreet

    HomeStreet CEO Mark Mason said the sale is the bank’s first step in returning to profitability.

  • The Morgan Stanley sign is seen at the entrance of a building.
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    Stephen Chernin via Getty Images
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    Morgan Stanley, BofA, Citi exit Net-Zero Banking Alliance

    The financial institutions’ decision to leave the United Nations-backed climate coalition comes shortly after Goldman Sachs and Wells Fargo announced they were doing the same.

  • A sign hangs on the BlackRock offices
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    Andrew Burton via Getty Images
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    FDIC eyes pact with BlackRock on passive investing

    The regulator reportedly gave the asset manager a Jan. 10 deadline to agree to stricter oversight when holding a 10% or greater stake in banks, similar to a deal struck last week with Vanguard.

  • Connecticut State Capitol
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    DenisTangneyJr via Getty Images
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    Patriot National taps new president to help in capital raise

    Steven Sugarman was hired to lead the company’s restructuring efforts shortly after the company announced it was embarking on a strategic review.