The Latest
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Judge grants preliminary injunction in CFPB case
The agency must reinstate fired probationary and term employees and can’t enact mass reductions in force, the court said. The injunction also lifts CFPB Acting Director Russ Vought’s stop-work order.
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Sponsored by CatchpointBeyond APM: How banks are improving digital resilience with Internet Performance Monitoring
Read on to learn how your bank or credit union can benefit from an IPM-based strategy.
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Frank founder, chief growth officer convicted of fraud
Charlie Javice and Olivier Amar face up to decades in prison for falsifying Frank’s customer numbers amid its $175 million sale to JPMorgan Chase.
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Goldman’s $80M executive bonuses draw flak from proxy adviser
Glass Lewis recommended investors vote against Goldman Sachs’ CEO and president each receiving $80 million retention bonuses.
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Why banks are all-in on open source
Morgan Stanley, JPMorgan Chase and other industry giants are reaping efficiency rewards and attracting tech talent simply by sharing code.
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Lynne Marek/Banking Dive
Discover CEO may reap $2.4M bonus
Michael Shepherd will remain as interim chief executive officer potentially through June, and receive a $2.4 million cash bonus if the sale to Capital One closes by then.
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Fed, OCC, FDIC seek to rescind CRA final rule
Federal banking regulators pointed to pending litigation as the reason for pulling back the 2023 rule.
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Senate votes to overturn CFPB overdraft rule
The bureau’s measure to cap overdraft at $5 is a House vote and presidential signature away from being repealed.
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Permission granted by Truist
Truist’s wealth advisers hone their listening ear
The Charlotte, North Carolina-based bank is emphasizing listening cards to guide advisers' conversations with clients past the pitch stage.
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Permission granted by Office of the Comptroller of the Currency
Acting comptroller Hood revamps OCC unit
After restructuring, the Office of External Relations and Strategic Partnerships will be headed by Andrew Moss, Rodney Hood’s acting chief of staff.
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Deutsche Bank picks Morgan Stanley vet for CFO
Raja Akram, Morgan Stanley’s deputy CFO since 2020, will succeed James von Moltke, who has held the finance reins at Germany's largest bank for eight years.
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CFPB withdraws ‘inappropriate’ filing in NY AG’s suit against Citi
The bureau’s brief was withdrawn because it “advances an interpretation of the Electronic Funds Transfer Act that has never been embraced by any federal court prior.”
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Kayla Bartkowski / Staff via Getty Images
OCC nominee Gould aims to ‘shine a spotlight’ on de-banking
“I think too often reputation risk is used as a pre-text for other motives,” Jonathan Gould, an OCC veteran President Donald Trump tapped to lead the agency, told lawmakers at a hearing.
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Daniel Berehulak via Getty Images
ColumnDive Deposits: UBS simply doesn’t want to be held back
The Swiss bank’s threat to move its HQ from its home country comes as its spirit appears to morph from European to British to American on ideals such as DEI, pay and climate.
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CFPB pushes to vacate Townstone settlement, refund mortgage lender
The bureau identified the redlining case against Townstone Financial as “abusive” and “unjust” and plans to make the company whole by returning the $105,000 penalty it paid.
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ING’s net-zero targets align with SBTi
The Dutch bank aims to reduce its absolute scope 1 and scope 2 emissions by 44% by 2030, compared with 2023. It's the first global bank to have its climate goals validated by the organization.
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Permission granted by Chime
Chime adds instant loans
The San Francisco-based fintech has debuted an instant loans product that offers three-month installment funds of up to $500 to Chime members.
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Anna Hrushka/Banking Dive
FDIC ‘plans to eradicate’ focus on reputational risk
Two bank regulators and the head of the Senate Banking Committee have called to put an end to a regulatory focus on reputational risk this month.
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Chip Somodevilla / Staff via Getty Images
Republicans air CFPB grievances, jockey for changes at agency
Rep. Andy Barr, R-KY, called the bureau an “Orwellian predator,” at a hearing where several lawmakers proposed reforms, including making the bureau a five-member commission.
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VectorMine via Getty Images
Q&APlaid’s Brian Dammeir talks future of open banking
Open banking has long been an industry-led venture. The trendline won’t change even if the timeline does, Plaid’s head of payments and financial management said.
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Fed hands Tennessee bank a cease-and-desist order
The central bank identified weaknesses in Frankewing Bancshares’ operations, including its inability to provide financial and managerial support to the bank.
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Courtesy of TD
TD close to offloading $9B mortgage portfolio
The sale, set to close at the end of the month, reflects the Canadian lender’s efforts to simplify its portfolio as part of a strategic review, CEO Raymond Chun said Tuesday.
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Courtesy of Revolut Press Kit
Revolut US CFO aims for growth, maturity, with more ‘boots on the ground’
Getting the balance between agility and compliance right is crucial for the fintech as it looks to continue its expansion into key markets like the U.S., Revolut CFO Max Lapin said.
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Permission granted by Gabrielle Saulsbery
Q&AFintechs egg on ‘willingness to challenge norms,’ Bolt president says
Justin Grooms expects fintechs to keep pushing the payments industry forward with more competition for legacy players.
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Federal Reserve. (2024). [Photo]. Retrieved from Flickr.
Fed’s Bowman: Let’s rethink negative comment review for bank applications
Commonwealth Business Bank applied to open a branch in New Jersey last September, but one adverse comment routed the application to the central bank’s board for review and vote, the potential supervision czar said.
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JPMorgan rebrands DEI, leaves net-zero group
The bank said it will swap in “opportunity” for “equity” in its DEI policy and that it left Net-Zero Asset Managers over the group’s operational pause.
