The Latest

  • Sen. Elizabeth Warren, wearing a red jacket, speaks into a microphone during a Congressional hearing.
    Image attribution tooltip
    Michael A. McCoy / Stringer via Getty Images
    Image attribution tooltip

    Warren, Schiff ask CFPB to oust DOGE

    The senators want the bureau to turn over communications between DOGE and CFPB officials, and to detail what enforcement or competitor data billionaire Elon Musk can access because of DOGE's work.

  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
    Image attribution tooltip
    Win McNamee via Getty Images
    Image attribution tooltip

    Capital One, Discover shareholders approve merger

    Stockholders of the two companies Tuesday approved the deal, which still awaits sign-off from the Federal Reserve and OCC.

  • The HSBC logo is seen outside a bank branch.
    Image attribution tooltip
    Matt Cardy via Getty Images
    Image attribution tooltip

    HSBC delays net-zero emissions goal by 20 years

    The U.K.-based bank said it was “revising [its] ambition” and delaying its target of hitting net-zero across its operations, business travel and supply chain from 2030 to 2050.

  • A Wells Fargo flag flies in front of a Wells Fargo bank branch.
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    Wells Fargo clears 10th consent order; 4 remain

    The 2018 consent order issued by the OCC identified deficiencies in the bank’s enterprise-wide compliance risk management program and was tied to a $500 million penalty against the lender. 

  • A man sits at a table as photographers stand over him.
    Image attribution tooltip
    Andrew Harnik via Getty Images
    Image attribution tooltip

    Judge halts CFPB firings

    The bureau also was told not to delete any agency data or transfer its reserve funding to the Fed or anywhere else. The CFPB then reportedly placed most employees on administrative leave.

  • Two people walk past a Chase bank branch.
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip

    Banks back away from DEI mentions

    JPMorgan Chase, Citizens and Huntington have reduced or eliminated their references to diversity, equity and inclusion amid a White House crackdown, according to the banks’ latest annual filings.

  • Truist building
    Image attribution tooltip
    "Truist Plaza" by Tyler Lahti is licensed under CC BY-SA 2.0
    Image attribution tooltip

    Truist, Zelle execs and others discuss approaches to fraud

    A Truist executive advocated for more information sharing to combat push-payment fraud, an issue another participant in a panel discussion last week called a “national challenge.”

  • Morgan Stanley CEO Ted Pick
    Image attribution tooltip
    Courtesy of Morgan Stanley
    Image attribution tooltip

    Morgan Stanley pays CEO Ted Pick $34M in 2024

    The total makes Pick the fourth-highest-paid CEO among the U.S.-based big banks that have so far disclosed compensation this year.

  • JPMorgan Chase building signage in New York City
    Image attribution tooltip
    Michael M. Santiago / Staff via Getty Images
    Image attribution tooltip

    JPMorgan: Climate change should factor into ‘daily decision-making’

    Investments and innovation in climate technology have increased, but “changes in leadership, economic conditions and ... stagnation” have stalled progress, a bank executive wrote.

  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
    Image attribution tooltip
    Lynne Marek/Banking Dive
    Image attribution tooltip

    Waller sees stablecoins advancing in retail

    Stablecoins are seeping into payments at stores, but there are plenty of hurdles before they become widely used, according to Federal Reserve Governor Christopher Waller.

  • A man sits at a table as photographers stand over him.
    Image attribution tooltip
    Andrew Harnik via Getty Images
    Image attribution tooltip

    CFPB union warns of ‘mass’ layoff to affect 95% of the bureau

    The bureau terminated roughly 70 to 100 term employees Thursday. An amended complaint asserts there's more to come — and that agency leadership aims to return the CFPB’s reserve funding and terminate its office lease.

  • A Citi bank branch is shown, as a person walks by. Window signs advertise the bank's offerings.
    Image attribution tooltip
    Spencer Platt / Staff via Getty Images
    Image attribution tooltip

    Citi’s Sieg sees tech lag as an invitation to innovation

    The bank’s market position – behind its peers – is a challenge that allows it to find ways to leapfrog competitors, Citi’s wealth chief said.

  • Wells Fargo branch exterior
    Image attribution tooltip
    Courtesy of Wells Fargo multimedia resources
    Image attribution tooltip

    Wells Fargo faces labor board complaint over union vote

    The National Labor Relations Board alleged the lender threatened and retaliated against workers in favor of unionization at a California branch.

  • Discover sign at driveway entrance to headquarters with flowers in front.
    Image attribution tooltip
    Lynne Marek/Banking Dive
    Image attribution tooltip

    Discover flags potential Capital One merger delay

    The card network said it now expects the transaction to be completed by May 19, as the companies await regulatory approvals.

  • bank of america flag waving in Charlotte
    Image attribution tooltip
    Davis Turner/Stringer via Getty Images
    Image attribution tooltip

    ‘Taking stock’: BofA and JPMorgan execs weigh in on Trump 2.0

    While Bank of America CEO Brian Moynihan called the recent regulatory shift “classic re-engineering,” one peer exec said the changes “are taking all the oxygen in the room.”

  • Animated hooded person steps off a laptop screen with an oversized credit card under his arm.
    Image attribution tooltip
    tommy via Getty Images
    Image attribution tooltip

    Shame drives rampant underreporting of fraud, panelists say

    Push-payment scams are at a "crisis level," consumer advocates at a Banking Dive event said, with losses totaling perhaps more than 15 times what's reported.

  • OCC
    Image attribution tooltip
    Retrieved from OCC.
    Image attribution tooltip

    OCC vet Gould nominated to lead agency

    Jonathan Gould spent roughly three years at the OCC, from 2018 to 2021, and has focused heavily on financial services throughout his career.

  • The exterior of the Consumer Financial Protection Bureau building
    Image attribution tooltip
    The image by Ted Eytan is licensed under CC BY-SA 2.0
    Image attribution tooltip

    Ex-FDIC official McKernan tapped to lead CFPB

    The development came on a day when the bureau terminated roughly 70 probationary employees, including enforcement division attorneys, according to Bloomberg Law.

  • Tampa, Florida, skyline is pictured at dusk
    Image attribution tooltip
    Sean Pavone via Getty Images
    Image attribution tooltip

    Wise to close Tampa office, cut about 300 employees

    The fintech will shutter its Florida location in November, with layoffs starting in April. Wise will consolidate Americas teams in Austin, New York and São Paulo.

  • Image of bitcoins.
    Image attribution tooltip
    Chris McGrath via Getty Images
    Image attribution tooltip

    CFTC alum, crypto lobbyist tapped to lead agency

    Brian Quintenz was previously appointed to the Commodity Futures Trading Commission by two presidents. In the private sector, he’s spent two years as head of crypto policy for investor a16z.

  • OCC
    Image attribution tooltip
    Retrieved from OCC.
    Image attribution tooltip

    OCC to leave central bank climate coalition

    Participation in the Network for Greening the Financial System falls outside the agency’s “statutory responsibilities,” Acting Comptroller Rodney Hood said. The Federal Reserve and FDIC left the coalition last month.

  • A man smokes outside a Standard Chartered bank location.
    Image attribution tooltip
    Matthew Lloyd via Getty Images
    Image attribution tooltip

    Mandy DeFilippo named Standard Chartered’s top US exec

    DeFilippo’s appointment comes after British peer HSBC also named a woman as U.S. CEO, and after U.S. Bank announced its next CEO will be a woman.

  • Russ Vought OMB Trump spending
    Image attribution tooltip
    Andrew Harnik via Getty Images
    Image attribution tooltip

    CFPB’s enforcement, supervision chiefs step down

    The moves come after the bureau’s new leaders issued stop-work orders – and threatened personnel action in cases of “insubordination.”

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
    Image attribution tooltip
    Anna Hrushka/Banking Dive
    Image attribution tooltip

    McKernan resigns from FDIC board

    Jonathan McKernan is vacating his seat in keeping with an FDIC rule that no more than three board members be of the same political party. Republican Rodney Hood was named acting OCC chief Friday.

  • Senator Elizabeth Warren speaks during a legislative hearing, holding her handout to the side. A sign in front of her reads "Ms. Warren."
    Image attribution tooltip
    Andrew Harnik / Staff via Getty Images
    Image attribution tooltip

    Warren calls for probe of FDIC rescinding job offers

    Sen. Elizabeth Warren and three other senators called on the FDIC Office of Inspector General to look into the agency’s move to withdraw bank examiner job offers, given the staffing challenges the FDIC already faced.