SEC proposes 'rules of the road' for climate-risk disclosures

The agency would require companies to describe in a filing their governance and strategy toward climate risk and obtain independent attestation of their greenhouse gas emission data.

By Jim Tyson • March 22, 2022

Senators, lawsuit press Wells Fargo on mortgage refinancing race gap

Sens. Elizabeth Warren, D-MA, and Ron Wyden, D-OR, want the bank to provide data and algorithms behind a reported 25-percentage-point gulf in approval. A larger group of senators flagged the disparity to the CFPB.

By Dan Ennis • March 21, 2022

Explore the Trendline➔

M&A

President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.

By Banking Dive staff

USAA to pay $140M in penalties over AML shortcomings

The bank failed to timely file at least 3,873 suspicious activity reports between 2017 and 2021, FinCEN found. Additionally, USAA consistently missed deadlines in a planned overhaul related to due diligence and risk identification.

By Dan Ennis • March 18, 2022

CFPB expands enforcement of unfair discrimination

The agency on Wednesday unveiled an updated exam manual for evaluating unfair practices in the world of consumer finance.

By Robin Bradley • March 17, 2022

Biden's Fed nominees advance to full Senate

Economist Philip Jefferson received unanimous support, while Lisa Cook saw a 12-12 party-line split. Sen. Pat Toomey, R-PA, signaled his opposition to Lael Brainard over climate-related issues.

By Dan Ennis • March 17, 2022

Raskin withdraws name from Fed consideration

Republicans, Democrats and the ex-candidate herself pointed to her climate stance as the deciding factor, despite secondary questions of whether she used her influence to help a fintech.

By Dan Ennis • March 16, 2022

A growing ecosystem brings compliance challenges and opportunities

The rapidly changing regulatory and risk landscape presents a constant challenge for banking industry leaders.

March 14, 2022

Biden's digital-asset order may prompt legislation

Calls for coordination across government agencies and a relatively short timeline to produce reports on the issue reinforce how seriously officials view forward movement, a law professor said.

By Caitlin Mullen • March 11, 2022

FDIC, OCC, NCUA efforts on unbanked need more data, GAO finds

The regulators should establish outcome-based performance measures to track their progress toward improving financial inclusivity, the agency said in a report made public Monday.

By Robin Bradley • March 9, 2022

White House lays out digital-asset priorities

An executive order issued Wednesday details six priorities in "harnessing the potential benefits" of the emerging technologies.

By Lynne Marek • March 9, 2022

Citi names next chief compliance officer

Tom Anderson, who now serves as chief compliance officer for the bank's personal banking and wealth management division, returned to Citi last year after stints at American Express and JPMorgan Chase.

By Robin Bradley • Updated May 12, 2022

Fed signs off on M&T-People’s United deal

The nonprofit Better Markets called out the central bank's late-Friday approval, citing what it labeled a "disturbing pattern" of releasing crucial news at times when relatively few are paying attention.

By Dan Ennis • March 7, 2022

Fed's Powell looks to stay above the fray

Senate and House lawmakers couldn't resist addressing stalled Fed nominations during the central bank leader's hearings on monetary policy. The White House on Friday doubled down on its stance.

By Dan Ennis • March 4, 2022

Fed troubleshoots 'master account' issue

The central bank pushed a tiered approach offering stricter reviews for fintechs seeking access to the Fed's payment system. An ethical gray area there has contributed to a stall in nominations at the Fed.

By Dan Ennis • March 2, 2022

EU to restrict 7 Russian banks from SWIFT

The sanctions reportedly won't include Sberbank, which said Wednesday it would pull out of the European market. The Single Resolution Board is liquidating the lender's Austria-based unit while others have been sold.

By Dan Ennis • March 2, 2022

WhatsApp scandal's specter rises again

Citi, Goldman Sachs and HSBC all warned, in their annual reports, that the SEC and CFTC are investigating banks' record-keeping of communications through private platforms.

By Dan Ennis • March 1, 2022

US expands Russia sanctions to Sberbank, Gazprombank executives

The new round of sanctions, levied against the nation for its ongoing war against Ukraine, also includes limits on three Russian television stations.

By Dan Ennis • Updated May 9, 2022

Citi becomes largest US bank to eliminate overdraft fees

The bank is set to supplant Capital One over the summer as the largest U.S.-based financial institution to do away with the fees.

By Robin Bradley • Feb. 25, 2022

US extends sanctions to Russia's 2 largest banks

Russia's access to the SWIFT financial messaging service remains intact for now, a move that sparked criticism from both Democrats and Republicans. But President Joe Biden said he wouldn't eliminate that option.

By Dan Ennis • Feb. 25, 2022

US banks brace for stricter sanctions against Russia

The Russian banks the U.S. targeted Tuesday account for only 5% of the country's total bank assets.

By Robin Bradley • Feb. 24, 2022

Ex-Goldman banker's 1MDB trial paused over late-breaking evidence

Prosecutors said they learned Tuesday night that a Justice Department unit did not share with them or Roger Ng's defense lawyers 15,500 documents belonging to the government's star witness in the case.

By Dan Ennis • Feb. 24, 2022

To freeze or not to freeze (bank execs' variable pay)?

Barclays and Goldman Sachs offer differing perspectives on when to withhold unvested but conditional compensation.

By Dan Ennis • Feb. 23, 2022

Washington policymakers spout off on CBDCs

A Friday speech by Fed Gov. Lael Brainard and a Feb. 7 report from the Congressional Research Service underscore the U.S. government's rising interest in a digital dollar.

By Lynne Marek • Feb. 22, 2022

M&T, People’s United delay merger timeline as Citizens winds up HSBC deal

Buffalo, New York-based M&T becomes the latest bank to change its plans amid lagging approval from the Fed.

By Dan Ennis • Feb. 22, 2022

Flex work in 2022 may mean chucking your title

Where Citi became 2021's poster bank for hybrid schedules, UBS is looking to streamline by making employees known more for their functions than by their place in a pecking order.

By Dan Ennis • Feb. 18, 2022