The Latest

  • Woman stands under TD Bank sign.
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    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.

  • A view of boats on water in a Rhode Island bay, with blue skies and clouds
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    Ann Talbot via Getty Images
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    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.

  • A stock ticker scrolls behind a Goldman Sachs banner at the stock exchange
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    Chris Hondros via Getty Images
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    Goldman’s annual cull set for May: reports

    The bank’s workforce reduction this year may affect 3% to 5% of its employees, with a special focus on vice presidents, according to The Wall Street Journal and Bloomberg.

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    Dennis Diatel via Getty Images
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    Q&A

    Crypto miner stresses risk minimization, manufacturing capability

    Broadstreet Private Equity CEO David Feingold hedges against the volatility of crypto by converting every altcoin his operation mines into a stablecoin by day’s end.

  • Consumer Financial Protection Bureau banks
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    Kayla Bartkowski via Getty Images
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    CFPB drops Zelle fraud suit against JPMorgan, BofA, Wells Fargo

    The agency’s one-page filing dismissed the complaint with prejudice, meaning it cannot be revived in the future.

  • BMY building is pictured in Manhattan on October 12, 2022 in New York City.
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    Spencer Platt / Staff via Getty Images
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    Banks invest in responsible AI talent, research as adoption unfolds

    The industry increased its hiring of governance and ethical use professionals last year, according to Evident Insights.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC withdraws merger policy, brokered deposits proposal

    The regulator’s board voted Monday to scrap four Biden-era proposed rules and a policy that applied greater scrutiny to bank mergers.

  • Citizens Financial Group branch
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    Permission granted by Citizens Financial Group
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    TD’s US consumer-banking chief jumps to Citizens

    The Providence, Rhode Island-based bank also named Wells Fargo veteran Michelle Moosally as its next general counsel and chief legal officer.

  • GenAI, fake legal citations, monk, texas federal court
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    ivan-balvan via Getty Images
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    Judge orders CFPB’s COO to testify next week

    The court aims to get to the root of conflicting messages as to what work is being ordered and done at the imperiled agency. The bureau remains barred from mass firings and reportedly asked to dismiss a lawsuit against Comerica.

  • A panoramic view of Waikiki and Diamond Head from Tantalus lookout in the Puu Ualakaa State Park, Honolulu, Oahu, Hawaii.
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    zhuzhu via Getty Images
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    LA-based Hope gets regulatory nod to merge with Territorial

    Hope Bancorp received regulatory approval less than a year after announcing the deal. The merger is expected to be completed at the beginning of April.

  • Trump holds up a signed executive order on issues including crypto and AI on Jan. 23, 2025.
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    Anna Moneymaker via Getty Images
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    Crypto firm Tether appoints new CFO, names predecessor as chair

    The stablecoin issuer aims to conduct a full audit in a bid to leave behind a somewhat checkered past with U.S. regulators as the Trump administration courts the crypto industry.

  • Entrance to CFPB building
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    The image by Ted Eytan is licensed under CC BY-SA 2.0
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    Current, ex-CFPB employees detail bureau takedown effort

    About a dozen agency workers testify on a three-phase “wind-down mode,” ahead of a hearing that may hold the bureau’s future in the balance.

  • After signing a series of executive orders and proclamations, Trump spoke to reporters about a range of topics including recent negotiations with Mexico on tarriffs.
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    Anna Moneymaker/Getty Images via Getty Images
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    Trump names coins in strategic crypto reserve

    Differing from prior calls for a national bitcoin stockpile, the strategic reserve will have bitcoin, ether, Ripple’s XRP, Solana’s SOL and Cardano’s ADA, according to the president’s Truth Social post.

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    Drew Angerer via Getty Images
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    Ex-Moelis banker agrees to plea deal, joins Rothschild

    Jonathan Kaye, who was filmed punching a woman in the face on video last year, pleaded guilty to six misdemeanor charges but may be able to get his case expunged if he meets certain requirements.

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    Getty Images/Staff via Getty Images
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    Valley National Bank bolsters its C-suite

    The New Jersey-based lender elevated its interim finance chief to CFO and named an M&T Bank veteran as its next commercial bank president.

  • A Wells Fargo bank signage is seen on Broadway on December 20, 2022 in New York City.
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    Michael M. Santiago via Getty Images
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    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.

  • Cryptocurrency tokens lying next to a gavel
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    Just_Super via Getty Images
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    SEC drops case against Kraken

    “This dismissal lifts that cloud of uncertainty. It reaffirms that businesses like Kraken, which prioritize compliance and consumer protection, should not be subject to arbitrary legal battles,” the exchange wrote in a blog post.

  • A sign above an ATM at a Capital One Café on February 19, 2024, in Miami, Florida.
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    Joe Raedle / Staff via Getty Images
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    CFPB ditches lawsuit against Capital One

    The bureau reversed course Thursday after accusing the bank last month of obscuring a higher-paying savings product from some legacy savings account holders.

  • Goldman Sachs CEO David Solomon appears onstage.
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    Paul Morigi via Getty Images
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    Column

    Dive Deposits: Goldman brings banking’s DEI retreat full circle

    After scrapping a policy requiring board diversity for companies it advises, Goldman backed off its own equity initiatives. But its CEO is keeping a strong stance on diversity’s value.

  • The Robinhood website shown on a computer in June 2024
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    Scott Olson via Getty Images
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    Robinhood CFO sells $1.2M in shares after dropped SEC investigation

    “Let me be crystal clear — this investigation never should have been opened,” Robinhood’s chief legal officer said last Monday.

  • Miami
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    Robert King via Getty Images
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    Florida serial acquirer strikes again with $110M deal

    Seacoast Banking Corp. seeks to expand its footprint in central Florida by buying Heartland Bancshares in a stock and cash deal. 

  • people stand in line outside of banco popular in puerto rico.
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    Joe Raedle via Getty Images
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    Puerto Rico’s biggest bank names next CEO

    Javier Ferrer will be elevated to CEO from his current post as president and operations chief once CEO Ignacio Alvarez steps down at the end of June.

  • Green and white signage on the exterior of a building reads "TD Bank."
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    Spencer Platt / Staff via Getty Images
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    TD racks up AML remediation costs

    After spending $86 million in Q1, the bank expects to spend $500 million on AML remediation costs and governance and control investment in fiscal 2025.

  • Four people sit at a long table with microphones in front of them, with a crowd of people seated behind them, in a Congressional building.
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    Kayla Bartkowski / Staff via Getty Images
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    Senators probe McKernan at nomination hearing

    Given recent turmoil at the CFPB, Sen. Elizabeth Warren said Jonathan McKernan – nominated to lead the agency – seems “lined up to be the No. 1 horse at the glue factory.”

  • Two business people are signing contract.
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    simarik via Getty Images
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    Busey Bank sees CFO switch before CrossFirst deal closes

    The Illinois bank’s corporate controller is serving as interim CFO after Jeff Jones’ abrupt departure, which the lender said did not involve any disagreement about the merger or financial conditions.