Founders Bank's conditional FDIC approval kicks off 2020 de novo activity

Founders Bank, set to open in the first half of this year if it raises $25 million to $30 million, has hired a new CFO. But new banks have had a shaky 12 months in the nation's capital.

By Dan Ennis • Jan. 13, 2020

California governor to create state's own version of CFPB

The proposed California Consumer Financial Protection Law, which is expected to be unveiled Friday in the governor's state budget, would revamp the existing Department of Business Oversight.

By Anna Hrushka • Jan. 10, 2020

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Top 5 stories from Banking Dive

As the banking sphere prepares for a second Trump presidency, institutions are weighing branch strategy and regulatory changes — and looking at how past crises have altered their perception of risk.

By Banking Dive staff

Fed releases its own CRA revamp plan, revealing regulator rift

Gov. Lael Brainard criticized the OCC and FDIC's proposal for the low-income borrowing rule, saying it emphasizes dollar value over number of loans.

By Dan Ennis • Jan. 9, 2020

Visa, Mastercard hold fast to gas stations' chip-card deadline

Fuel retailers were given an extra five years to upgrade to EMV technology, but 70% of convenience store owners in a survey said they still haven't done so.

By Dan Ennis • Jan. 8, 2020

Goldman revamps business units to highlight consumer growth

The bank eliminated a hard-to-predict investing and lending segment with the aim of boosting its stock and may unveil other strategic shifts at its first investor day this month.

By Dan Ennis • Jan. 7, 2020

Banks to tighten third-party data access in 2020, experts say

Following recent moves by PNC and JPMorgan Chase, expect to see a "snowball effect" as financial institutions aim to boost security and control of personal information.

By Anna Hrushka • Jan. 7, 2020

Former Wells Fargo execs could face criminal charges, sources say

It's a new year, but an investigation into the bank's scandal-ridden past could take center stage in 2020, sources told American Banker.

By Anna Hrushka • Jan. 6, 2020

De novo activity fell in 2019 despite FDIC plea

The regulator conditionally signed off on a Utah startup in late December, bringing the number of 2019 approvals to nine. That's down from 15 in 2018, as capital requirements and executive turnover pose hurdles for new banks.

By Dan Ennis • Jan. 3, 2020

Lawmaker wants FDIC to monitor 'rent-a-bank' arrangements

Some online lenders have indicated they would target California consumers but partner with out-of-state banks to avoid the state's interest rate cap, Rep. Katie Porter, D-CA, wrote to the agency's chair.

By Anna Hrushka • Dec. 23, 2019

Wells Fargo board members may testify in 2020 over scandal, lawmaker says

If California Democrat Maxine Waters' request is fulfilled, it would be the first time the bank's board members would face the House Financial Services Committee.

By Anna Hrushka • Dec. 20, 2019

Pot banking bill suffers blow as Senate panel chair opposes it

Sen. Mike Crapo, R-ID, surprised the industry in July, when he said his committee would hold a hearing on the issue. The senator later said he planned to hold a vote on the bill by the end of the year.

By Anna Hrushka • Dec. 19, 2019

Goldman Sachs bolsters climate policy with $750B goal, fossil-fuel restrictions

The bank pledged to reach net-zero greenhouse-gas emissions in its finance activities by 2050, and said in a blog post it has put $156 billion toward its $750 billion green goal over the past 15 months.

By Dan Ennis • Updated March 5, 2021

Regulators find shortcomings in 6 US banks' 'living wills'

Bank of America, Bank of New York Mellon, Citigroup, Morgan Stanley, State Street and Wells Fargo have until the end of March to address them.

By Anna Hrushka • Dec. 18, 2019

Truist's post-merger hurdle: Blending two cultures

BB&T and SunTrust have touted their deal as a merger of equals, but the new entity must reconcile cultural differences to retain employees and clients, a consultant says.

By Anna Hrushka • Dec. 17, 2019

Green bank bill aims to turn $35B in government money into climate solutions

The U.S. has 12 green banks at the state, county and city levels. But they're limited in funds and vulnerable to political backlash.

By Iulia Gheorghiu • Dec. 16, 2019

PayPal sues CFPB, saying prepaid rule sows confusion

The rule lumps digital wallets under the same umbrella as reloadable cards and forces customers to receive a fee disclosure that may ultimately slow PayPal's growth, the P2P company says.

By Dan Ennis • Dec. 13, 2019

Regulators retool CRA to reflect digital banking footprint

The Office of the Comptroller of the Currency and the FDIC on Thursday proposed expanding assessment areas covered under a 1977 law to protect lower-income borrowers.

By Anna Hrushka • Dec. 13, 2019

How banks should navigate sports betting

Financial institutions need to make sure they are educated and aware of the issues and risks associated with serving the sector, several banking and compliance experts said during a panel.

By Anna Hrushka • Dec. 11, 2019

HSBC agrees to pay $192M to settle U.S. tax case

The bank's Swiss unit helped 720 U.S. clients hide $825 million in assets from the IRS between 2000 and 2010, it admitted. HSBC has quintupled the number of employees assigned to spot suspicious activity in recent years.

By Dan Ennis • Dec. 11, 2019

Morgan Stanley faces 1-2 punch of 1,500 job cuts, $22M fine

The bank plans to take a charge, connected to the staff reduction, of $150 million to $200 million in its fourth-quarter results.

By Dan Ennis • Dec. 10, 2019

Former Fed chief, rule architect Paul Volcker dies at 92

Volcker's policies while leading the central bank helped rein in inflation in the early 1980s, while his proposed ban on proprietary trading drew the ire of big banks after the 2007-08 recession.

By Dan Ennis • Dec. 9, 2019

BB&T completes acquisition of SunTrust to form Truist

The deal creates the nation's sixth-largest bank and marks the largest merger in the sector since the 2007-08 financial crisis.

By Anna Hrushka • Dec. 9, 2019

The Banking Dive Awards for 2019

From Jamie Dimon to Mastercard, these are the companies and executives that shaped banking this year.

Dec. 9, 2019

Warren bill would loop CFPB in to bank merger approval process

Financial institutions' Community Reinvestment Act exam ratings would also be taken into account under the Democratic presidential candidate's legislation, which was introduced Wednesday.

By Dan Ennis • Dec. 6, 2019

NCUA's Hood defends credit union growth during House hearing

Some communities would be without banking access if a credit union hadn't decided to purchase a community bank, NCUA Chairman Rodney Hood told lawmakers Wednesday.

By Anna Hrushka • Dec. 5, 2019