Risk: Page 12
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Yellen: CRE losses may leave banks ‘quite stressed’
Bank regulators aim to avert turmoil caused by a slump in the value of commercial real estate, Treasury Secretary Janet Yellen said in testimony to a House committee Tuesday.
By Jim Tyson • Feb. 7, 2024 -
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NYCB enlists ex-Flagstar CEO after Moody’s downgrade
The bank named Alessandro DiNello as executive chair Wednesday and issued updated deposit and liquidity statistics to reassure investors. But some have still filed suit.
By Dan Ennis • Feb. 7, 2024 -
Explore the Trendline➔
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TrendlineArtificial 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 -
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Yellen asks Congress for stablecoin legislation
Treasury Secretary Janet Yellen renewed a call for Congress to act on digital assets, saying “there is no appropriate regulatory framework.”
By James Pothen • Feb. 6, 2024 -
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NYCB’s risk chief left bank ahead of Q4 loss report, stock dip
The bank’s announcement that it would set aside $552 million in loan-loss reserves and cut its dividend came amid pressure from the Office of the Comptroller of the Currency, Bloomberg reported.
By Dan Ennis • Feb. 6, 2024 -
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Vast Bank discontinues crypto mobile app
The Tulsa, Oklahoma-based lender told customers their digital assets would be liquidated and accounts would be closed. Customers will receive stranded assets via cashier’s check, the bank said.
By Rajashree Chakravarty • Feb. 5, 2024 -
“Royal Bank of Canada’s global headquarters at 200 Bay Street in Toronto, Canada” by Francisco Diez is licensed under CC BY 2.0
RBC subsidiary City National hit with $65M OCC penalty
The regulator issued a cease-and-desist order mandating the bank improve its strategic plan, as well as its compliance risk management related to BSA/anti-money laundering and fair lending.
By Gabrielle Saulsbery • Feb. 1, 2024 -
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Could the factors that took down SVB combine for a rerun in 2024?
NYCB’s surprise Q4 loss may stand as a warning — or an outlier — as regional banks fight for deposits, weather real estate woes and wait for interest rates to drop.
By Dan Ennis • Jan. 31, 2024 -
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The banking industry outlook on 2024: The year of wait-and-see
A capital requirements proposal, fintech regulation and the CFPB itself hang in the balance as opinions (from the public and a court) and an ever-ticking clock loom large.
By Dan Ennis • Jan. 30, 2024 -
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12 state agriculture heads probe biggest banks’ climate targets
The Republican officials have “serious concerns” about potential impacts of the banks’ net-zero goals on food availability, credit access for farmers and agriculture product manufacturers, they wrote.
By Lamar Johnson • Jan. 30, 2024 -
Permission granted by TIAA; photo by NAZpicture
TIAA sues SVB ex-CEO, ex-CFO to recoup investment losses
TIAA accused the executives of failing to implement appropriate risk controls and concealing the lack of controls from investors and depositors.
By Grace Noto • Jan. 29, 2024 -
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HSBC launches first net-zero transition plan
The bank’s plan to slash emissions and meet climate objectives comes against a backdrop of financial institutions facing pressure to address risk and sever ties with the fossil-fuel industry.
By Zoya Mirza • Jan. 26, 2024 -
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Trading platform EquiLend down following cyberattack
The prolific criminal group LockBit has reportedly claimed credit for the attack, raising further questions about the risks facing the securities and banking industries.
By David Jones • Jan. 24, 2024 -
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Fed, NYDFS fine Chinese bank ICBC $32.4M
“Regulated institutions must be held accountable for failing to adhere to New York’s rigorous legal and regulatory standards,” NYDFS Superintendent Adrienne Harris said Friday.
By Rajashree Chakravarty • Jan. 22, 2024 -
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BaaS to require strong commitment, investment in 2024, experts say
While demand for embedded banking services will continue to propel the BaaS space, experts say regulatory scrutiny will likely separate committed banks from those with a casual interest in the model.
By Anna Hrushka • Jan. 22, 2024 -
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OCC’s Hsu calls for ‘better brakes’ to stave off bank runs
The acting comptroller wants regulators to implement a “targeted liquidity requirement” by which banks would be required to hold sufficient liquidity to cover stress outflows over a five-day period.
By Anna Hrushka • Jan. 19, 2024 -
Permission granted by Arc Technologies
Neobank Arc looks to fill SVB gap with venture debt platform
Arc Technologies CEO and co-founder Don Muir likened Arc Capital Markets to Uber Black, describing the platform as a dedicated concierge service that meticulously vets its lenders.
By Anna Hrushka • Jan. 17, 2024 -
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Morgan Stanley to pay $249M to resolve block-trading probe
The bank signed a three-year nonprosecution agreement with the Justice Department. Former bank executive Pawan Passi agreed to a one-year ban from the securities industry and will pay a $250,000 fine.
By Dan Ennis • Jan. 12, 2024 -
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Citi flags $3.8B hit on charges, reserves
In an SEC filing on Wednesday, Citi said fourth-quarter profit will be impacted by charges and reserves related to international exposures, its restructuring plan and the FDIC’s special assessment.
By Anna Hrushka • Jan. 11, 2024 -
Permission granted by TD Bank
TD execs knew in November 2022 about DOJ’s probe into AML: report
Regulatory scrutiny of TD’s AML practices has long been rumored as the catalyst for the May 2023 collapse of the bank’s proposed $13.4 billion acquisition of First Horizon.
By Dan Ennis • Jan. 11, 2024 -
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Deep DiveBarr hints at looming changes for emergency fund, capital requirements
A post-SVB lending facility may end in March as scheduled, the Fed supervisory czar indicated. Meanwhile, the public looks to get a louder say on the impact of new capital rules.
By Dan Ennis • Jan. 10, 2024 -
5 banking trends to watch in 2024
Banking observers will watch this month’s earnings for clues as to whether 2023’s crisis can return. The capital-requirements debate and a CFPB-focused Supreme Court case also warrant attention.
By Gabrielle Saulsbery , Rajashree Chakravarty , Anna Hrushka , Dan Ennis • Jan. 9, 2024 -
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Binance.US taps chief compliance officer
Lesley O’Neill joins Binance.US after two years holding a similar position at digital identity verification fintech Prove Identity.
By Gabrielle Saulsbery • Jan. 5, 2024 -
The image by Ted Eytan is licensed under CC BY-SA 2.0
Bank groups flag concerns with CFPB’s open banking proposal
The Bank Policy Institute and The Clearing House want the consumer watchdog to take a tougher stance on screen scraping, and allow banks to charge fees to cover the cost of enabling data sharing.
By Anna Hrushka • Jan. 3, 2024 -
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ColumnIt may be loose-end season at BNP Paribas
France’s largest lender agreed to pay up to €600 million to borrowers who used a mortgage product that soured amid a debt crisis. But the specter of an anti-money laundering probe looms.
By Dan Ennis • Jan. 3, 2024 -
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Finma calls for more powers after Credit Suisse’s collapse
Between 2018 and 2022, the Swiss regulator conducted 108 on-site supervisory reviews at Credit Suisse. It found 382 points that required action — 113 of which were classified as high or critical.
By Rajashree Chakravarty • Dec. 19, 2023
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