How Golden 1 used AI to find ‘good risk’

The credit union partnered with Zest AI to build its own customized credit scorecard and has seen a 28% increase in approvals to protected classes of borrowers, Golden 1's CEO said.

By Ken McCarthy • March 12, 2024

Compliance, overdraft fees may get greater focus in left-leaning NCUA

Liquidity and interest rate risk remain “very high priorities” for regulatory agencies, credit union executives said at a conference last week.

By Ken McCarthy • March 11, 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

OCC clears U.S. Bank from MUFG Union consent order

The enforcement action, for failing to meet federal IT security guidelines, was issued just one day before U.S. Bank announced its $8 billion acquisition of MUFG Union.

By Rajashree Chakravarty • March 8, 2024

A year after SVB, what’s improved and what needs work?

Banking Dive looks at six factors — from upcoming regulations to commercial real estate — to see how the landscape has changed between the crises of 2023 and 2024.

By Dan Ennis • March 8, 2024

NYCB names ex-OCC chief Otting as CEO

Former Treasury Secretary Steven Mnuchin will take a seat on the bank's board after his Liberty Strategic Capital and other investors infused NYCB with $1.05 billion.

By Dan Ennis • March 7, 2024

Powell eyes ‘broad,’ ‘material’ changes to capital requirements proposal

The Fed chair cited “voluminous” public comments the proposal has elicited but wouldn’t dismiss the idea that the regulation could be re-proposed or withdrawn.

By Dan Ennis • March 7, 2024

Powell predicts CRE woes will hit smaller banks hardest

The Federal Reserve, bankers and commercial real estate executives have warned of turbulence as property owners struggle to refinance debt at higher rates.

By Jim Tyson • March 7, 2024

29 House Republicans urge Fed to withdraw capital requirements plan

The letter comes as the central bank's supervision chief is rewriting the proposal, Reuters reported, with expected changes to the way potential losses and risk weights are calculated.

By Dan Ennis • March 6, 2024

Dive Deposits: TD gives its AML woes long-haul messaging

The bank's First Horizon stumble is as woven into its fabric as the Revlon error is for Citi, or the fake-accounts scandal is for Wells Fargo, if one looks at TD's responses to analysts.

By Dan Ennis • March 6, 2024

Puerto Rican bank sues Fed for $150M in damages

Banco San Juan Internacional filed an amended lawsuit last week over the Fed’s decision to terminate the bank’s master account.

By Rajashree Chakravarty • March 5, 2024

Metropolitan Commercial Bank exits BaaS

“The decision to terminate these financial service partnerships will reduce the Company’s exposure to the heightened, and evolving, regulatory standards related to these activities,” the bank said in its 10-K filing last week.

By Gabrielle Saulsbery • March 4, 2024

West Virginia warns Citi, TD, others over fossil-fuel stances

BMO, HSBC, Fifth Third and Northern Trust also received notices that the state would add them to a restricted financial institution list over alleged "boycotts."

By Lamar Johnson • March 1, 2024

NYCB names DiNello as CEO, takes $2.4B impairment charge

The bank appointed a chief risk officer and chief audit executive Friday, hours after SEC filings revealed material weakness in the review, oversight, risk assessment and monitoring of NYCB's lending.

By Dan Ennis • March 1, 2024

Gemini to return more than $1.1B to Earn customers

The crypto exchange and New York's Department of Financial Services reached an agreement Wednesday that included a $37 million penalty for compliance failures.

By Gabrielle Saulsbery • Feb. 29, 2024

Tennessee bank hit with FDIC consent order over BaaS business

Under the consent order, Lineage Bank must implement an enhanced risk management program overseen by its board of directors, increase capital levels, and let go of some fintech partners.

By Rajashree Chakravarty • Feb. 28, 2024

Smaller credit unions face hurdles despite NCUA’s fintech rule

The financial innovation rule may open the door to more partnerships, but larger institutions still have advantages on tech, budget and risk management, experts say.

By Ken McCarthy • Feb. 28, 2024

Chime to pay California regulator $2.5M over customer service flaws

The agency investigated accuracy and responsiveness to customer complaints. The consent order offered few details but the time frame aligns with COVID-era account closures.

By Dan Ennis • Feb. 28, 2024

Warren calls out OCC over merger policy ahead of Capital One-Discover

The senator urged regulators to block the deal and took the OCC to task for its approval record. Meanwhile, JPMorgan CEO Jamie Dimon advocated for Capital One to get a fair shake.

By Dan Ennis • Feb. 27, 2024

Fed official makes a case for the dollar’s hegemony

Can the dollar’s reign as the world’s reserve currency persist? This Fed official makes a strong case, but digital doubts may remain.

By Lynne Marek • Feb. 27, 2024

California AG urges small banks, credit unions to ax ‘surprise’ overdraft fees

Some overdraft and returned deposited-item fees may violate the state’s Unfair Competition Law and the federal Consumer Financial Protection Act, Rob Bonta warned in a letter last week.

By Ken McCarthy • Feb. 26, 2024

Zions Bank CEO to retire April 1

The bank's CFO will succeed the longtime chief executive at a crucial moment for regional banks like Zions, which saw its profits drop 50% in the fourth quarter.

By Dan Ennis • Feb. 26, 2024

Russia’s VTB Bank chief charged with US sanctions violations

The Justice Department also charged Andrey Kostin with conspiracy to commit money laundering in alleged efforts to hide his ownership of a Colorado home. Kostin rejected the charges in comments to Russian media.

By Rajashree Chakravarty • Updated Feb. 26, 2024

Capital One-Discover deal carries $1.38B termination fee

The fee would apply if Discover chooses another buyer or if either board has a change of heart but not if regulators block the deal.

By Dan Ennis • Feb. 23, 2024

JPMorgan Chase sued over bounced check fees

The lawsuit filed Tuesday claimed JPMorgan charged “unconscionable” and “predatory” fees for returned checks between November 2021 and October 2022.

By Rajashree Chakravarty • Feb. 22, 2024

OCC’s Hsu calls for federal payments licensing

The acting comptroller called on Congress to replace the state-by-state money transmitter licensing system for payments companies with a federal regulatory framework.

By James Pothen • Feb. 22, 2024