Risk: Page 11
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Scope 3 emissions flap delays final climate risk rule, Gensler says
Republican senators criticized the SEC chief for what they said is a burdensome and divisive regulatory agenda.
By Jim Tyson • Sept. 12, 2023 -
FDIC admits missteps in First Republic oversight
In the four years before the bank’s failure, the San Francisco-based lender doubled in size while examination hours declined by 11%, the FDIC said in its post-mortem.
By Anna Hrushka • Sept. 11, 2023 -
Trendline
Top 5 stories from Banking Dive
Everything old is new again. One year after Citi’s reorganization, progress comes in “fits and starts.” Meanwhile, a contentious proposed rule is generating “voluminous” feedback after 14 months.
By Banking Dive staff -
5 takeaways from Michael Barr’s views on CBDCs, stablecoins and more
The Federal Reserve’s vice chair for supervision spoke about “responsible innovation” Friday at a Philadelphia Fed fintech conference.
By Suman Bhattacharyya • Sept. 11, 2023 -
Deep Dive
Goldman’s strategy retreat leaves GreenSky in limbo
The installment-lending fintech, which Goldman is looking to sell, faces an uncertain future as the investment bank distances itself from an ambitious retail strategy.
By Anna Hrushka • Sept. 7, 2023 -
Column
Goldman, regional bank warnings show the Fed is now playing offense
The central bank has requested action from Citizens, Fifth Third and M&T regarding capital, liquidity, technology and compliance, according to Bloomberg. Goldman’s fintech partnerships are reportedly under scrutiny, too.
By Dan Ennis • Aug. 31, 2023 -
FDIC should have voted on First Republic sale, board member says
Such a move would ensure no value is left on the table, Jonathan McKernan said. Other board members voiced concerns the process would take too long or be overly complex.
By Anna Hrushka • Aug. 30, 2023 -
Regulators want banks to hold more debt to shield against failures
Under the proposal, large banks would be required to maintain a minimum amount of eligible long-term debt equal to 3.5% of average total assets or 6% of risk-weighted assets, whichever is higher.
By Anna Hrushka • Aug. 29, 2023 -
Massachusetts’ top court rules against Robinhood
The Supreme Judiciary Court’s 5-0 ruling upholds the state’s fiduciary rule, holding broker-dealers like Robinhood to fiduciary duties of care and loyalty, similar to investment advisers.
By Gabrielle Saulsbery • Aug. 28, 2023 -
3 ways banks can navigate the commercial real estate slump
It’s not clear if or when the CRE market will return to pre-pandemic levels, but experts say there are steps that banks with significant exposure to the space can take to help mitigate losses.
By Anna Hrushka • Aug. 16, 2023 -
SVB Financial claims it’s losing $9M a month in FDIC battle
The holding company, which filed for bankruptcy on March 15, said it stands to lose $100 million annually if the regulator continues to hold on to nearly $2 billion in seized deposits.
By Anna Hrushka • Aug. 16, 2023 -
UBS to pay $1.4B to settle mortgage-backed securities fraud case
The Justice Department has recovered $36 billion in civil penalties from 18 financial institutions in connection with mortgage-backed securities fraud. UBS was the last one to settle.
By Rajashree Chakravarty • Aug. 15, 2023 -
Custodia launches with US dollar deposits, preps crypto custody
The bank, which is engaged in a legal battle with the Fed, said it’s initially serving U.S. business customers only and awaiting final regulatory clearance to launch its bitcoin custody service.
By Anna Hrushka • Aug. 14, 2023 -
Senators urge Fed to overhaul big-bank merger policy
A revamp is critical given the spate of regional bank failures this year, said Sen. Sherrod Brown, D-OH, and three others, who accused the central bank of approving mergers under an “old rubric.”
By Anna Hrushka • Aug. 10, 2023 -
6 CFO tips for handling the backlash against ESG
The ESG backlash has compelled companies to alter their sustainability strategies, including ensuring close alignment with core business goals, the Conference Board said.
By Jim Tyson • Aug. 9, 2023 -
New Fed unit to supervise crypto, nonbank partnerships
The central bank clarified that any state bank it supervises must get the regulator’s green light before issuing, holding or transacting in dollar tokens, such as stablecoins, to facilitate payments.
By Anna Hrushka • Aug. 9, 2023 -
Warren wants Goldman CEO to name bankers tied to SVB deals
The senator asked David Solomon to provide more specifics into his bank's dual role as an adviser to SVB and as a buyer of its assets.
By Dan Ennis • Aug. 9, 2023 -
Wells Fargo to pay $200M to settle WhatsApp probes
The San Francisco-based lender is one of 11 firms, including BNP Paribas, that reached settlements with the SEC on Tuesday, as U.S. regulators continue their crackdown on records retention violations.
By Anna Hrushka • Aug. 8, 2023 -
KeyBank misled investors on liquidity, lawsuit claims
The bank blamed marginal funding costs for its downward revision of net interest income, a shareholder said. But that adjustment came less than a week before confidence in regional lenders spiraled.
By Dan Ennis • Aug. 8, 2023 -
Lawmakers blast FDIC’s ‘feeble response’ to deposit misreporting
If left unchecked, the underreporting could lead to shortfalls to the Deposit Insurance Fund, which “could threaten the stability of the entire U.S. banking system,” warned Sen. Elizabeth Warren, D-MA, and Rep. Katie Porter, D-CA.
By Anna Hrushka • Aug. 7, 2023 -
Column
Could OceanFirst’s CRA troubles have tanked its proposed merger?
The New Jersey lender's CRA rating dropped to “needs to improve” around the same time it announced a merger with Partners Bancorp, a new OCC report shows. The deal fell apart in November 2022.
By Gabrielle Saulsbery • Aug. 4, 2023 -
Revolut halts US crypto trading
U.S. customers will no longer be able to buy tokens on the neobank’s platform as of Sept. 2, and crypto access for those users will be disabled a month later, the neobank said.
By Anna Hrushka • Aug. 4, 2023 -
Wells Fargo expects ‘significant increase’ in risk-weighted assets
The bank reacted to regulators' proposed changes to capital requirements in a filing Tuesday. It also estimated it would pay $1.8 billion to replenish the FDIC's Deposit Insurance Fund.
By Dan Ennis • Aug. 2, 2023 -
Banks plan to tighten credit: Fed
Despite greater caution among banks, economic growth accelerated during the second quarter.
By Jim Tyson • Aug. 1, 2023 -
Senate ‘making good progress’ on pot banking bill, Schumer says
There may be bipartisan agreement on SAFE Banking’s goal to help the cannabis industry enter the banking fold, but lawmakers are reportedly haggling over some of the bill’s details.
By Anna Hrushka • Aug. 1, 2023 -
Dream First acquires Heartland Tri-State in Kansas bank failure
Heartland "became insolvent due to an isolated event," the state regulator said. Dream First adds four branches, around $139 million in assets and $130 million in deposits.
By Rajashree Chakravarty • July 31, 2023