BPM spurns UniCredit’s takeover bid

The bank blasted what it sees as a weak premium. Its CEO warned a deal would cost BPM 6,000 jobs. And Italian officials expressed concern that a UniCredit tie-up would stall efforts to grow BPM.

By Dan Ennis • Nov. 27, 2024

Musk calls for end to CFPB

The presumed Trump Cabinet appointee said there “are too many duplicative regulatory agencies,” calling out the consumer watchdog specifically Wednesday.

By Gabrielle Saulsbery • Nov. 27, 2024

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

FDIC: New tool highlights opportunities for minority banks

Wearing its “preserve and promote” hat, the banking agency launched a tool this month that reveals neighborhoods that may present opportunities for minority-focused banks.

By Caitlin Mullen • Nov. 27, 2024

Trump 2.0 expected to open the ‘regulatory gates’ for chartering

“Fintech had really just become kind of a dirty word during the Biden administration, and that’s going to change,” said Michele Alt, an OCC veteran and co-founder of financial services advisory firm Klaros Group.

By Caitlin Mullen • Nov. 27, 2024

Custodia takes a step back ahead of Trump term

The Wyoming bank, long embattled with the Federal Reserve, aimed to “preserve capital” and its charter before the White House takes a presumably more crypto-positive tone.

By Dan Ennis • Nov. 26, 2024

Blueacorn founders indicted on PPP fraud charges

The Justice Department accused Nathan Reis and Stephanie Hockridge of submitting thousands of fraudulent PPP applications through the fintech in the name of “democratizing access to loan relief.”

By Gabrielle Saulsbery • Nov. 26, 2024

Warren, Dems bash Capital One’s ‘history’ in Fed letter

Lawmakers told regulators to look at the bank’s aggressive debt collection, anti-money laundering woes and an inflated community investment pledge, in considering the acquisition application.

By Patrick Cooley • Nov. 26, 2024

Old National to acquire Minnesota’s Bremer for $1.4B

The deal would expand $54 billion-asset Old National’s presence in the upper Midwest and make it the third-largest bank in the Twin Cities.

By Caitlin Mullen • Nov. 25, 2024

TD names its next chief auditor

The bank’s personnel moves are being closely watched as it addresses its anti-money laundering woes.

By Dan Ennis • Nov. 22, 2024

OCC admonishes Texas’ Clear Fork Bank for not correcting AML problems

The lender’s board was given one week to appoint a compliance committee to oversee the bank’s adherence to the OCC order’s provisions.

By Caitlin Mullen • Nov. 22, 2024

Fed bans CEO of failed Kansas bank from industry

Shan Hanes, who was sentenced to 24 years in prison in August, is barred from working for a bank or bank holding company, the central bank said.

By Caitlin Mullen • Nov. 22, 2024

Richmond Fed seeks more Capital One-Discover input

The regional Fed bank, which has purview over the proposed merger, demanded more information from Capital One as the regulator considers whether to approve the deal.

By Lynne Marek • Nov. 22, 2024

SEC’s Gensler to step down Jan. 20

Gensler becomes the second Democrat-appointed chief of a U.S. financial regulator, in a three-day span, to telegraph his departure timeline.

By Jim Tyson • Nov. 21, 2024

Don’t lift Wells Fargo asset cap, Warren tells Fed

The bank’s OCC order, citing anti-money laundering deficiencies, and a court case over alleged sham interviews prove Wells hasn’t changed sufficiently, the senator wrote in a letter to central bank officials.

By Dan Ennis • Nov. 21, 2024

DC attorney general sues EarnIn over ‘deceptive’ marketing

The fintech couches its “cash out” product as earned wage access, but it’s a loan that, at times, carries 300% interest with a poorly disclosed fee for “instant” payouts, the AG said.

By Dan Ennis • Nov. 20, 2024

FDIC extends recordkeeping rule comment period

The comment window for the agency’s third-party recordkeeping rule has been extended by 45 days.

By Rajashree Chakravarty • Nov. 20, 2024

Ex-Richmond Fed supervisor pleads guilty to insider trading

Robert Brian Thompson made more than $500,000 in profits over trades made just before New York Community Bank reported an unexpected loss in January, the SEC said.

By Dan Ennis • Nov. 20, 2024

Fed hits Kansas bank again over AML compliance

Examiners found “new and continuing deficiencies” at Small Business Bank roughly a year after the Federal Reserve issued a previous enforcement action.

By Rajashree Chakravarty • Nov. 20, 2024

Hold off on new rules before Trump, GOP lawmakers tell regulators

House Financial Services Committee Republicans bemoaned recent “disastrous” banking rules and pushed regulators to pause work on new rules before Trump takes office.

By Caitlin Mullen • Nov. 20, 2024

Texas bank holding company cited by Fed

Industry Bancshares must strengthen board oversight and enhance risk management practices, the central bank said, weeks after the FDIC hit three of the company’s banks with consent orders.

By Gabrielle Saulsbery • Nov. 20, 2024

FDIC’s Gruenberg to step down Jan. 19

The embattled Democrat has served on the agency’s board for nearly two decades. His second stint as FDIC chair was marred by allegations that the agency fostered a toxic culture.

By Dan Ennis • Nov. 19, 2024

FCA: Staley misled regulators about his relationship with Epstein

Former Barclays CEO Jes Staley challenged his ban from the British financial sector Monday in a preliminary court hearing.

By Gabrielle Saulsbery • Nov. 19, 2024

CFPB’s Chopra urges deposit insurance reform

Following a recent Oklahoma bank failure, the CFPB director said it is time for Congress to remove or “at least dramatically increase” the limits of federal deposit insurance.

By Rajashree Chakravarty • Nov. 19, 2024

Senators bemoan FDIC’s slow roll after sexual harassment allegations

Seven Republican senators wrote two letters to FDIC Inspector General Jennifer Fain asserting that it’s been more than a year since bombshell toxic-culture allegations rocked the agency, yet victims still haven’t gotten justice.

By Gabrielle Saulsbery • Nov. 18, 2024

JPMorgan unveils green financing ratio following shareholder proposal

The bank said it spent $1.29 on green solutions for every dollar spent on high-carbon activities in the disclosure prompted by a proposal submitted by NYC Comptroller Brad Lander.

By Lamar Johnson • Nov. 18, 2024