Major US banks halt share buybacks in response to coronavirus pandemic

The forum called the COVID-19 pandemic “an unprecedented challenge for the world and the global economy,” and said the U.S.’s largest banks have an “unquestioned ability and commitment” to support the nation. 

By Anna Hrushka • March 16, 2020

Fed injects $1.5T into Wall Street as regulators, lawmakers respond to coronavirus

Some analysts welcomed the move, but said a fiscal stimulus from Congress is also needed.

By Anna Hrushka • March 13, 2020

Explore the 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

Wells Fargo CEO: 'Broken' culture led to consumer abuse scandals

Scharf told lawmakers Wells Fargo’s structure was "problematic," and company leadership failed its stakeholders. "Our culture was broken, and we did not have the appropriate controls in place across the company," he said.

By Anna Hrushka • March 10, 2020

Why lenders still love retail, bankruptcies and all

Asset-based loans are a safe and popular form of financing for lenders. But for distressed retailers it can be a "trap."

By Ben Unglesbee • March 9, 2020

Banks engage in self-hacks to keep defenses sharp

Enlisting teams of hackers to look for vulnerabilities helps banks take their security efforts beyond scanning software.

By Robert Freedman • March 9, 2020

COVID-19: Steps to prepare a remote work policy

A successful remote work plan will unite technology with norms and expectations, one source said.

By Katie Clarey • March 4, 2020

Coronavirus could hit fintechs hard as card transactions drop

Fintechs’ reliance on the fees merchants pay when consumers make credit and debit purchases will be tested as people stay home. 

By Robert Freedman • March 4, 2020

Fed announces rate cut as US banks respond to coronavirus threat

As regulators convene to discuss COVID-19's economic impact, U.S. banks are implementing precautions such as travel restrictions and virtual events.

By Anna Hrushka • Updated March 3, 2020

Vote on pot banking bill is months away, Sen. Gardner says

Gardner said the SAFE Banking Act would bring nearly $2 billion of cash from Colorado’s state-legal cannabis industry into the financial system.

By Anna Hrushka • Feb. 27, 2020

Financial services industry stands to lose $1T in climate change-related costs

The report comes as major banks such as JPMorgan Chase and Goldman Sachs, as well as asset management firm BlackRock, announced their own commitments to combat climate change.

By Anna Hrushka • Feb. 25, 2020

HSBC to cut 35K jobs in major restructuring

The London-based bank said it will scale back its presence in the U.S. and mainland Europe, reduce the size of its investment bank and invest more in its Asian and Middle Eastern operations. 

By Anna Hrushka • Feb. 18, 2020

4 Chinese military members charged in Equifax hack

The attackers exploited a vulnerability in software used by the credit bureau's online dispute portal and routed traffic through 34 servers in nearly 20 countries to mask their true location, the Justice Department said Monday.

By Dan Ennis • Feb. 10, 2020

The Clearing House quadruples single real-time payment limit to $100K

The move is meant to boost the network's attractiveness in comparison to those with a $25,000 ceiling operated by ACH or the Federal Reserve.

By Dan Ennis • Jan. 23, 2020

Cannabis, banking trade groups urge Crapo to advance SAFE Act

The letter to the Senate banking panel chair echoes arguments advocates have made for years: lack of access to financial services for marijuana-related businesses is a public safety issue.

By Anna Hrushka • Jan. 22, 2020

Trust should be the foundation in democratization of data, CEO says

"People are driving their financial lives with the equivalent of a semi truck at 80 mph all across this country," said Ryan Caldwell, CEO of MX. "[Banks] have the ability to put data collection around that vehicle and guide people to safety."

By Kate Patrick Macri • Jan. 21, 2020

HSBC whistleblower says Iran sanctions could bring AML into sharper focus

"The laws that are about to come out of this ... are going to be unreal," says a private intelligence specialist whose alerts to the CIA nearly a decade ago resulted in a record fine.

By Anna Hrushka • Jan. 21, 2020

Travelex puts itself up for sale 4 months after hack

Parent company Finablr revealed it held about $1 billion in debt that it hadn't disclosed to its board.

By Dan Ennis • Updated June 7, 2020

62% of breached data came from financial services in 2019

Capital One's data breach was a leading contributor to the amount of compromised data. But American Express and SunTrust have suffered the greatest number of breaches since 2009, with five apiece, a report showed.

By Samantha Schwartz • Jan. 3, 2020

JPMorgan Chase to ban fintechs from accessing customer passwords

The U.S.'s largest bank said it plans to issue tokens for access to a limited amount of data in a secure form, and is also working toward getting customers' passwords "out of the system."

By Anna Hrushka • Jan. 2, 2020

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

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

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

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

Banks don't need to file SARs when servicing hemp businesses, regulators say

The guidance comes as welcome news to hemp growers, banks and some lawmakers who have long called for clarification.

By Anna Hrushka • Dec. 3, 2019

4 questions with FDIC Chair Jelena McWilliams

"I think that the biggest challenge we have is not allowing innovation to happen, or standing in the way of technological developments that could make the system better," McWilliams told Banking Dive. 

By Anna Hrushka • Nov. 12, 2019