Wells Fargo released from 2022 CFPB consent order

The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit account services.

By Rajashree Chakravarty • Jan. 28, 2025

Chopra urges regulatory action to confront de-banking

The CFPB director faulted the lack of transparency around bank decisions to close accounts and said it’s worth exploring what appeal rights customers could be entitled to.

By Caitlin Mullen • Jan. 28, 2025

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

A nearly $1B bank deal is one approval away

The FDIC has signed off on WesBanco’s bid to acquire Youngstown, Ohio-based Premier Bank. The merger awaits approval from the Federal Reserve.

By Caitlin Mullen • Jan. 27, 2025

Judge deals SEC, Kraken partial wins in ongoing case

Kraken and the Securities and Exchange Commission both secured partial victories in a ruling about what defenses Kraken can use in the ongoing case between the two.

By Gabrielle Saulsbery • Jan. 27, 2025

While Trump’s anti-DEI executive orders pile up, Jamie Dimon doesn’t flinch

In response to activists’ anti-DEI efforts against his company, the JPMorgan Chase CEO said to “bring them on.”

By Caroline Colvin • Jan. 27, 2025

Ousting the CFPB’s Chopra wasn’t a ‘day one’ priority

The Trump administration has issued dozens of executive orders, but change to banking regulations and agency leaders isn’t going to be quick, analysts say.

By Dan Ennis • Jan. 27, 2025

TD names next AML chief

Jacqueline Sanjuas joined the bank last year, months before the Justice Department made public its investigation into TD’s anti-money laundering issues.

By Gabrielle Saulsbery • Jan. 24, 2025

Trump accuses Bank of America of political de-banking

The lender rebuffed allegations that it is less welcoming to conservatives after the president blindsided CEO Brian Moynihan with a barb during a Q&A session at the World Economic Forum in Davos, Switzerland.

By Dan Ennis • Jan. 24, 2025

Trump order embraces stablecoins, bars CBDCs

President Donald Trump issued a “digital financial technology” executive order Thursday backing the cryptocurrency industry and terminating any federal work on a central bank digital currency.

By Lynne Marek • Jan. 24, 2025

NY would bar banks from charging fees on overdrafts of less than $20

A proposal targets “authorize positive, settle negative” charges and duplicative nonsufficient funds fees, but it would only apply to state-chartered banks.

By Dan Ennis • Jan. 23, 2025

BlackRock, Tennessee reach settlement on ESG suit

The agreement dismisses the state’s 2023 lawsuit and does not find that the investment firm violated any laws. “We’re pleased to resolve this matter,” a BlackRock spokesperson said.

By Lamar Johnson • Jan. 22, 2025

Dive Deposits: FDIC’s Hill wastes little time in re-prioritizing

The agency’s acting chief laid out his aim for transparency in fintech partnerships, a faster bank merger approval process and a 180-degree turn on “problematic” Biden-era proposals.

By Dan Ennis • Jan. 22, 2025

Patriot Bank, OCC ink deal over ‘troubled’ condition

The Connecticut lender is taking remedial steps after the OCC found “unsafe or unsound practices” and violations related to strategic and capital planning and AML risk management. 

By Rajashree Chakravarty • Jan. 22, 2025

Wells Fargo, Merrill Lynch, LPL settle SEC charges

Two Wells Fargo-affiliated investment advisers and Merrill Lynch agreed to pay $60 million, while LPL Financial agreed to pay $18 million.

By Rajashree Chakravarty • Jan. 21, 2025

Fed, FDIC exit climate-focused organization NGFS

The central bank said the work of the Network of Central Banks and Supervisors for Greening the Financial System has “broadened in scope” and no longer falls within its “statutory mandate.”

By Zoya Mirza • Jan. 21, 2025

CFPB to consider broader ban on declined payment fees

The agency withdrew a rule proposal barring bank fees on certain declined transactions. Its plan for a “more comprehensive approach” faces an uncertain future in the Trump administration.

By Lynne Marek • Jan. 21, 2025

Chicago’s Pulaski Savings Bank is 2025’s first to fail in US

Illinois-based Millennium Bank acquired Pulaski’s deposits and most of its assets. The FDIC said the collapse will cost $28.5 million to the Deposit Insurance Fund, citing suspected fraud.

By Gabrielle Saulsbery • Jan. 21, 2025

Wells Fargo ex-exec appeals $1.5M fine, OCC enforcement order

Paul McLinko served as the bank’s executive audit director during its 2016 fake-accounts scandal. He called the penalty “arbitrary, capricious, an abuse of discretion, and otherwise not in accordance with law.”

By Gabrielle Saulsbery • Jan. 17, 2025

WaFd sheds 8% of staff with mortgage exit

“Our aim is to always offer products and services to our customers where WaFd Bank can add value, and we have concluded that we no longer do so in the mortgage sector,” CEO Brent Beardall said Thursday.

By Caitlin Mullen • Jan. 17, 2025

Amex pays $230M to resolve DOJ allegations

The credit card giant misrepresented features of some credit cards targeting small businesses and entered false information on card applications, the Justice Department alleged.

By Patrick Cooley • Jan. 16, 2025

Silvergate ex-CFO seeks dismissal of SEC charges

Antonio Martino filed for dismissal Tuesday, seven months after the SEC fined Silvergate and banned two of its executives from C-suite positions for five years.

By Gabrielle Saulsbery • Jan. 16, 2025

BaaS outlook brighter after period of growing pains

Regulatory scrutiny of the banking-as-a-service model won’t disappear, but the number of BaaS-related enforcement actions this year is expected to be more of a trickle than a flood.

By Caitlin Mullen • Jan. 15, 2025

Robinhood to pay $45M to settle SEC charges

Robinhood Securities will pay $33.5 million and Robinhood Financial will pay $11.5 million to settle a variety of charges, including recordkeeping and cybersecurity violations.

By Gabrielle Saulsbery • Jan. 15, 2025

FDIC’s Gruenberg cautions against ‘complacency,’ urges strong supervision

The outgoing FDIC chair, speaking Tuesday at the Brookings Institution, shared lessons learned from bank crises “as we head into a period of uncertainty about the future path of financial regulation.”

By Caitlin Mullen • Jan. 15, 2025

3 ex-Wells Fargo execs fined $18.5M over fake-accounts scandal

The Office of the Comptroller of the Currency banned the bank’s former community bank group risk officer for life, among other penalties handed down Tuesday.

By Dan Ennis • Jan. 15, 2025