Risk: Page 8
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Capital One to acquire Discover in $35.3B deal
The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.
By Dan Ennis • Feb. 20, 2024 -
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ColumnDive Deposits: Regulators, bankers talk about NYCB without saying its name
The Fed's vice chair for supervision pledged more scrutiny of CRE portfolios and a closer look when banks cross a certain asset threshold.
By Dan Ennis • Feb. 16, 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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JPMorgan, State Street exit Climate Action 100+ coalition
BlackRock also revised its membership after the coalition announced its “phase 2” requirements that signatories enhance their corporate disclosure and implement climate transition plans.
By Zoya Mirza • Feb. 15, 2024 -
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Bank of America customer data exposed in IT provider breach
A threat actor compromised Infosys McCamish Systems in November, affecting more than 57,000 Bank of America customers.
By Rajashree Chakravarty • Feb. 13, 2024 -
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Citi faces rebukes, new orders from regulators: report
The Federal Reserve sent three notices late last year instructing the lender to improve its data and governance, Reuters reported.
By Rajashree Chakravarty • Feb. 12, 2024 -
Spencer Platt / Staff via Getty Images
NYCB insiders bought 200K shares. Is this the show of confidence the bank needs?
One analyst highlights the bank’s willingness to “eat their own cooking.” But others have their eye on commercial real estate, NYCB’s rapid growth and a tinge of Signature deja vu.
By Dan Ennis • Feb. 12, 2024 -
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Q&ABanks should step up scam response: fraud expert
With regulators gearing up to take a stronger stance against digital payments fraud, banks must focus on how they handle scams, one executive says.
By Caitlin Mullen • Feb. 9, 2024 -
Ex-Heartland Tri-State CEO charged with embezzling $47M in crypto
A Heartland customer told authorities he saw a red flag when Shan Hanes, the bank’s CEO until July, asked him for $12 million to help take his money out of a crypto investment, according to Bloomberg.
By Gabrielle Saulsbery • Feb. 8, 2024 -
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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 -
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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 -
Spencer Platt / Staff via Getty Images
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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