The Latest

  • Wells Fargo signage outside a building with "Wells Fargo" on it.
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    Justin Sullivan / Staff via Getty Images
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    Union: Wells may have secretly recorded meetings

    WFWU alleges that the bank was secretly recording in-person bargaining meetings. Wells Fargo denies these claims, saying it “expressly prohibits the recording or transcription of meetings.”

  • CFPB Russell Vought
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    Anna Moneymaker via Getty Images
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    CFPB proposes trimming its nonbank purview

    A rule proposed Tuesday would restrict the bureau’s ability to supervise nonbanks. The agency aims to adopt a binding, standardized definition of “risks to consumers” that would make enforcement consistent, it said.

  • Federal Reserve building renovations
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    Michael M. Santiago via Getty Images
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    Trump moves to oust Fed’s Cook ‘effective immediately’

    Lisa Cook's lawyer said they will sue to challenge the president, who cited mortgage fraud allegations in a letter firing the central bank governor.

  • An entrance to a Madison Avenue JPMorgan Chase building is shown, with revolving doors and a person walking in the foreground.
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    Michael M. Santiago / Staff via Getty Images
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    Goldman exec named JPMorgan global investment banking chair

    M&A veteran Jerry Lee has joined JPMorgan from Goldman Sachs, where he spent nearly two decades.

  • A stack of US one hundred dollar bills is spread out on a table.
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    Alamy
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    Q&A

    Debanking debate damages regulator, bank confidence, professor warns

    To confront the debanking issue, the dean of the law college at the University of Wyoming suggests reforms that tackle regulatory discretion and secrecy.

  • Pedestrians pass by a Bank of America branch.
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    Spencer Platt via Getty Images
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    How Bank of America’s Erica raised the stakes for virtual assistants

    “A big area of focus for us was: How can we find that balance between the AI support and the human support that Bank of America is known for?” said Jorge Camargo, head of digital platforms.

  • Federal Reserve Chairman Jerome Powell answers questions from reporters
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    Chip Somodevilla via Getty Images
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    4 Jackson Hole takeaways you may have missed

    Fed Chair Jerome Powell laid out his dissenters’ opinions, signaled a near-future rate cut – and took a stand against Trumpian pressure. But it may have been lost in continuing bluster.

  • People stand in front of the exterior of a modern bank branch that features the words and logo "U.S. Bank" on the front. A sign in the window reads "Now open."
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    Caitlin Mullen/Banking Dive
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    U.S. Bank wants a piece of Charlotte, too

    The Minneapolis-based super-regional opened its seventh branch this week in North Carolina’s largest city, and wants to double its presence in a market where Truist, BofA and Wells Fargo are heavily entrenched.

  • A glass office building with the word "Pinnacle" and its logo on the exterior is seen from high above Nashville's downtown.
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    Permission granted by Pinnacle
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    Synovus, Pinnacle plan post-merger C-suite

    In perhaps a nod to a lesson learned from the Truist combination, the two regional banks laid out the combined company’s management team.

  • The JPMorgan Chase logo is seen at their headquarters building on May 26, 2023 in New York City.
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    Michael M. Santiago via Getty Images
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    JPMorgan to pay $330M to settle 1MDB claims

    Swiss authorities, in a connected case, fined the bank $3.7 million after the lender was found guilty of failing to prevent aggravated money laundering.

  • The Office of the Comptroller of the Currency logo
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    Creative via Getty Images
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    Ex-JPMorgan, PNC, TD bankers banned by OCC

    The eight former bankers are prohibited from the industry after regulators found instances of misappropriation of funds and customer impersonation.

  • anchorage digital cofounders
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    Permission granted by Anchorage Digital
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    OCC lifts Anchorage Digital consent order

    The only cryptocurrency firm with a national bank charter has invested tens of millions of dollars in compliance infrastructure to remedy issues noted in a 2022 consent order, CEO Nathan McCauley said.

  • Federal Reserve Christopher Waller crypto digital currencies stablecoins
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    Sarah Silbiger via Getty Images
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    Fed’s Waller pushes deeper ties with ‘innovators’

    The Federal Reserve has begun “technical research” on financial technology, including tokenization and AI in payments, the central bank governor said Wednesday.

  • CFPB open banking banks Russell Vought fintechs
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    Anna Moneymaker via Getty Images
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    CFPB seeks comments for new open banking rule

    The agency wants to learn about costs, fees and consumer data risks associated with open banking as it seeks to revise a 2024 rule.

  • People walk past Morgan Stanley's 522 Fifth Avenue Branch in Midtown Manhattan on July 7, 2022.
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    hapabapa via Getty Images
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    Why Morgan Stanley open-sourced its app development tool

    A software validation framework helps the bank accelerate compliance and security reviews. It released the tool last week through FINOS.

  • An exterior shot of a Fifth Third Bank location is shown
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    Courtesy of Fifth Third
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    Fifth Third buys cash management software firm DTS Connex

    The deal bolsters the bank's commercial payments business, which processed $17 trillion last year.

  • The interior of a modern office space is shown, with tables and chairs and "Customers Bank" on a back wall.
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    Permission granted by Customers Bank
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    Customers CEO talks lessons learned from Fed enforcement action

    After investing to strengthen its risk management practices, the Pennsylvania bank now seeks to jump on the favorable atmosphere for digital-asset activities.

  • Construction work is done around the Federal Reserve building on September 17, 2024 in Washington, DC.
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    Anna Moneymaker/Getty Images via Getty Images
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    Column

    Dive Deposits: Ahead of Jackson Hole, the spotlight is everywhere but on Jerome Powell

    Mortgage fraud allegations against another Fed governor, Lisa Cook, returned the focus to the Trump team’s push to re-mold the central bank.

  • The Space Needle stands over the Seattle skyline as Mt. Rainier is seen in the background.
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    John Moore via Getty Images
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    Washington’s 1st Security names next CEO

    Matthew Mullet, who was named president of the bank in July 2024, will succeed Joseph Adams as CEO in September.

  • A purple "Truist" bank sign attached to the facade of a stone building is shown, with blue sky and a tall building behind it.
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    Caitlin Mullen/Banking Dive
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    Truist aims to build 100 new branches in a mass-affluent grab

    The bank is targeting high-growth markets such as Austin, Miami and Dallas in a push that involves hiring more advisers, refining its AI tools and renovating 300 of its current branches.

  • An office building with the word "Regions" at the top is shown against a blue sky.
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    Caitlin Mullen/Banking Dive
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    Ex-Regions teller banned from banking after alleged theft

    Markel O’Neal Calhoun stole nearly $18,000 from the bank last February, the Federal Reserve alleged.

  • Thread Bank's new corporate HQ
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    Permission granted by Thread Bank
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    Thread Bank digital chief advocates for unified AI strategy

    “We don't want 30 different vendors doing 30 different AI things,” said Marty Miracle, the Tennessee lender’s first chief digital officer.

  • The Federal Deposit Insurance Corp. name and logo are shown on the exterior of a building.
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    Creative via Getty Images
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    FDIC would give banks flexibility on digital signage in proposed rule

    The proposal focuses display requirements toward screens and webpages most relevant to consumers, simplifying rules for signage on bank websites, mobile apps and ATMs.

  • Marijuana plants growing in an indoor facility
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    Julian Mackler via Getty Images
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    FundCanna launches BNPL tool for cannabis businesses

    Funding challenges in the cannabis market have created a massive delinquent receivables problem, according to one economist. ReadyPaid, FundCanna’s new B2B BNPL platform, aims to remedy that.

  • The skyline of a city during the day.
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    Ultima_Gaina via Getty Images
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    Virginia’s TowneBank to buy NC’s Dogwood in $476.2M deal

    The move would add 17 branches – many along the I-85 corridor in the Carolinas. TowneBank is set to close a separate acquisition of Old Point Financial on Sept. 1.