The Latest

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    5 takeaways from the FDIC’s Travis Hill on liquidity, Basel

    Banks must be willing to use the liquidity facilities available to them, and regulators must come together on a Basel endgame re-proposal, the FDIC’s vice chair said Wednesday.

  • A New York Community Bank branch location is shown
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    Spencer Platt / Staff via Getty Images
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    NYCB offloads mortgage servicing to Mr. Cooper for $1.4B

    The move reflects the lender’s efforts to become a “relationship-focused regional bank,” CEO Joseph Otting said Thursday as the bank reported earnings. He suggested more divestitures could follow.

  • Revolut card
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    Permission granted by Revolut
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    Revolut gets UK banking license

    Unreliable revenue figures and a complicated share structure likely contributed to the fintech’s three-year wait. But Revolut’s numbers came in robust and on time this year.

  • A sign hangs above an entranceway to a Capital One Café on February 19, 2024, in Miami, Florida.
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    Joe Raedle / Staff via Getty Images
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    Capital One racks up Walmart, Discover charges

    The card company set aside more than $800 million for credit losses post-Walmart breakup, a day after a class-action lawsuit sought to block Capital One's deal for Discover.

  • Stephane Lintner, Jiko co-founder and CEO
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    Permission granted by Jiko
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    Fed cites digital bank Jiko over capital planning woes

    The central bank is requiring the startup, which bought a bank in 2020, to submit a liquidity risk management plan with steps to diversify its funding sources and enhanced stress test scenarios.

  • Revolut card with logo
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    Courtesy of Revolut Press Kit
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    Revolut faces more fraud claims than other UK banks: report

    A spokesperson said the fintech investigates each fraud claim independently of other cases, and that it takes such claims “incredibly seriously.”

  • Mastercard point of sale, retail
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    Courtesy of Mastercard
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    FTC demands pricing input from JPMorgan, Mastercard

    The Federal Trade Commission demanded information from the megabank, card network and other companies to better understand how consumer data is being used in pricing.

  • A man exits the front of the U.S. Capitol at dawn.
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    Win McNamee via Getty Images
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    Column

    Dive Deposits: Menendez, Vance’s changing fortunes spotlight Senate banking panel

    Despite the New Jersey Democrat’s resignation and the Ohio Republican’s possible ascent to vice president, the Senate panel can expect business as usual — albeit with heightened urgency.

  • Bank sign on glass wall of business center.
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    ultramarine5 via Getty Images
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    Goldman vet tapped to lead Julius Baer

    Stefan Bollinger, Goldman’s co-head of private wealth management for Europe, the Middle East and Africa, will take the helm of the Swiss bank by Feb. 1, 2025.

  • A building is shown with a sign that reads, "Comerica Bank" in the foreground
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    Courtesy of Comerica
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    Column

    Dive Deposits: Comerica’s loss may be BNY’s gain

    The Treasury Department will not renew its Direct Express debit card contract with Comerica, the Dallas bank disclosed Friday. Rather, that partnership is going to BNY, sources told American Banker.

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    Dan Kitwood/Getty Images News via Getty Images
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    BlockFi prepares to make customers whole

    The crypto firm’s bankruptcy plan was approved in September. It announced Monday the sale of its FTX claims, part of its plan to pay customers back, at a “substantial premium to the[ir] face value.”

  • U.S. Vice President Kamala Harris marks the 30th anniversary of the Family and Medical Leave Act during an event in the East Room of the White House on February 02, 2023.
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    Chip Somodevilla via Getty Images
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    What bankers might expect if Kamala Harris wins the White House

    The Democratic front-runner went solo to get California a meatier mortgage settlement — and demanded names in Wells Fargo’s fake-accounts case. But she took flak for not prosecuting OneWest.

  • Truist CEO Bill Rogers, wearing a suit and sitting near a microphone, speaks during a Congressional hearing
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    Alex Wong / Staff via Getty Images
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    Truist execs pledge expense discipline

    While the bank is “fully committed” to keeping expenses flat this year compared to last, Truist is spending to bolster its payments and middle market lending teams, CEO Bill Rogers said Monday.

  • Green Dot GO2bank
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    Courtesy of Green Dot
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    Fed fines Green Dot $44M

    The consent order has been expected since February, when Green Dot revealed that reasonable associated losses could total $50 million.

  • J.P. Morgan's Fourth Quarter Income Drops Over 30 Percent
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    Chris Hondros / Staff via Getty Images
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    JPMorgan Chase invests in B2B payments startup Slope

    The bank’s payments unit and Y Combinator were among investors providing $65 million in financing for the business-to-business upstart this month.

  • People spend time in a Capital One cafe
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    Joe Raedle / Staff via Getty Images
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    Capital One-Discover deal critics, supporters sound off

    Executives with the two companies and a number of community groups spoke in favor of the $35.3 billion merger Friday, while a raft of critics urged regulators to block the deal.

  • A closeup of JPMorgan Chase's headquarters in New York.
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    Michael M. Santiago via Getty Images
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    JPMorgan, UBS and others see effects of IT outage

    Trading was delayed at JPMorgan and Nomura, media outlets reported. UBS saw problems related to legacy systems inherited from Credit Suisse. Charles Schwab warned users not to place duplicate trades.

  • A general view of the entrance to the Citigroup office in Canary Wharf on November 17, 2008 in London, England.
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    Oli Scarff / Staff via Getty Images
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    Citi COO intended to deceive OCC, ex-employee says

    In an amended lawsuit, former Citi data executive Kathleen Martin claims Anand Selva suggested twice that she fudge data to the bank’s primary regulator. She declined and lost her job two weeks later, she says.

  • OCC
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    Retrieved from OCC.
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    OCC bans 7 bankers in misappropriation, PPP cases

    The bankers include former employees of JPMorgan, BofA, Wells Fargo and Varo. In one case, an ex-U.S. Bank employee received $29,375 in PPP funds and misrepresented payroll and business expenses.

  • Michael Hsu, acting comptroller of the currency, appears before a Congressional committee wearing a suit.
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    Kevin Dietsch / Staff via Getty Images
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    Hsu signals OCC to review preemption rules

    In a speech Wednesday, the acting Comptroller of the Currency also pointed to the need for heightened regulation of bigger banks and the rising complexity of bank-nonbank ties.

  • Green Dot GO2bank
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    Courtesy of Green Dot
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    Green Dot execs misled shareholders about declining business, lawsuit says

    A former Green Dot employee alleged Monday that company leaders misrepresented how an important line of business was performing while also knowing about issues that would lead to an expensive Fed consent order.

  • Consumer Financial Protection Bureau Director Rohit Chopra testifies before the Senate Banking, Housing and Urban Affairs Committee April 26, 2022 in Washington, DC.
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    Win McNamee via Getty Images
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    6 ways the CFPB wants to keep its eyes on fintech middlemen

    Clearer guidance around “rent-a-bank,” open banking and buy now, pay later will ensure more consumers benefit, Director Rohit Chopra said in remarks last week.

  • HSBC incoming CEO Georges Elhedery
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    Courtesy HSBC

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    HSBC names CFO Elhedery as its next CEO

    The Lebanon-born banker was seen as an early front-runner to succeed Noel Quinn. Elhedery took a sabbatical in 2022, reportedly learning Mandarin, and was named CFO when he returned.

  • A sign that reads "Discover" marks the entrance to the card company's headquarters in Illinois.
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    Scott Olson / Staff via Getty Images
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    Discover to sell student loan portfolio to Carlyle, KKR in $10.8B deal

    The student loan sale is the latest loose end Discover seeks to tie up since Capital One announced its intent to purchase the card company.

  • The front of a two-story brick bank building with the company name and logo.
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    "Webster Bank, Hamden, CT" by John Phelan is licensed under CC BY-SA 3.0
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    Webster Bank taps ex-First Republic CFO as new finance chief

    Neal Holland served as CFO of First Republic for roughly seven months before JPMorgan acquired it. He also was MUFG Union’s CFO just ahead of its purchase by U.S. Bank.