The Latest
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Mandy DeFilippo named Standard Chartered’s top US exec
DeFilippo’s appointment comes after British peer HSBC also named a woman as U.S. CEO, and after U.S. Bank announced its next CEO will be a woman.
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Wise to close Tampa office, cut about 300 employees
The fintech will shutter its Florida location in November, with layoffs starting in April. Wise will consolidate Americas teams in Austin, New York and São Paulo.
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CFPB’s enforcement, supervision chiefs step down
The moves come after the bureau’s new leaders issued stop-work orders – and threatened personnel action in cases of “insubordination.”
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Anna Hrushka/Banking Dive
McKernan resigns from FDIC board
Jonathan McKernan is vacating his seat in keeping with an FDIC rule that no more than three board members be of the same political party. Republican Rodney Hood was named acting OCC chief Friday.
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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.
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CFPB’s future hangs in the balance after a wild weekend
Headquarters-based staff will work remotely this week after a new acting chief halted agency supervision and enforcement and told the Fed he wouldn't take any unappropriated funding next quarter.
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Retrieved from OCC.
Ex-NCUA chief tapped to be OCC acting comptroller
Rodney Hood said he “will work diligently to promote a regulatory environment that is effective without being excessive.”
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TD to sell entire Charles Schwab investment
The expected sale of its 184.7 million shares comes after it sold 40.5 million Schwab shares last August.
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Bank of America bumps Moynihan’s pay to $35M for 2024
BofA CEO Brian Moynihan received a 21% pay raise, according to a Friday filing. Capital One disclosed a $31 million incentive to CEO Richard Fairbank on the same day.
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HSBC makes interim sustainability chief permanent
Julian Wentzel, once HSBC’s head of global banking for the Middle East, North Africa and Turkey, becomes the bank's chief sustainability officer roughly a month after his predecessor left.
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Senators reintroduce bill to bar CBDC
Republican senators revived a bill last week to block the Federal Reserve from creating a central bank digital currency.
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Federal Reserve. (2024). [Photo]. Retrieved from Flickr.
5 takeaways from Michelle Bowman on innovation, de-banking and fighting fraud
The perhaps-future Federal Reserve vice chair for supervision argued in favor of transparency for crypto, smarter examinations and more responsibility from banks.
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Permission granted by SMBC
SMBC taps ex-TD exec as Americas COO
Greg Keeley, who most recently served as the senior vice president of platforms and technology at TD, will join SMBC in April.
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Spencer Platt / Staff via Getty Images
Citi’s year-end promotions total 8,500
That figure was similar to past years, following the bank’s broad reorganization and despite earlier reporting Citi would promote far fewer employees in 2024.
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Brink’s subsidiary to pay $42M to settle FinCEN, DOJ claims
The armored car company will pay FinCEN and the DOJ $42 million over three years following its willful admission to Bank Secrecy Act violations.
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Anna Hrushka/Banking Dive
Concerns mount over FDIC staffing challenges
A federal hiring freeze and brain drain at the already short-staffed agency could be detrimental for bank examinations and resolutions of failed lenders, lawyers and FDIC veterans said.
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Permission granted by Huntington Bank
Ex-Huntington branch manager sues bank, raising FMLA allegations
Terri Estepp alleged she was fired from Huntington Bank after nearly 28 years because she took FMLA leave to care for her dying daughter. The bank said her termination is unrelated.
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Douglas Rissing via Getty Images
Fed releases 2025 stress test scenarios
The stress test, which will include 22 banks compared to last year’s 32, will feature two added hypothetical elements for the Fed’s “exploratory analysis” of the banking system.
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Kent Nishimura via Getty Images
Senate panel grapples with who’s to blame for de-banking
“This shouldn’t be happening, and we need to figure out why and who is responsible,” Sen. Elizabeth Warren, D-MA, said during Wednesday’s hearing examining the impacts of de-banking.
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Mario Tama / Staff via Getty Images
GM subsidiary resubmits ILC charter application
GM Financial withdrew its application in June after a 3½-year wait – perhaps in anticipation of eased regulation under a Trump administration.
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Permission granted by Cushion
Cushion shutters after 8 years
The fintech, previously valued at over $82 million, has wound down, founder Paul Kesserwani wrote on LinkedIn last week.
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nCino taps chief product officer as CEO
Sean Desmond succeeded Pierre Naudé, the firm’s chairman and CEO of 13 years, to become the next chief executive.
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Coinbase calls on regulators to clarify crypto-bank rules
Banks that pursued crypto “were almost universally met with resistance” from the FDIC, the agency’s acting chair, Travis Hill, said Wednesday.
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CFPB fines Wise $2.5M over remittance violations
In one of the bureau's final actions under former Director Rohit Chopra's leadership, the CFPB said Wise misled customers in the U.S. about fees and failed to make other required disclosures.
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Michael M. Santiago via Getty Images
Fed terminates 2 Wells Fargo consent orders
Both orders were issued in 2011 and address mortgage business issues. Wells has resolved nine consent orders since 2019, and five remain, the bank said.
