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  • Law theme, mallet of the judge, law enforcement officers, evidence-based cases and documents taken into account
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    Judge sides with Fed in Custodia master account ruling

    Judge Scott Skavdahl said the Wyoming-based digital-asset bank failed to prove that the Fed’s board of governors had undue influence on the Kansas City Fed in its application denial.

  • Piermont Bank lobby
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    Permission granted by Piermont Bank
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    Piermont, Sutton banks hit with FDIC consent orders over BaaS

    The FDIC ordered Piermont to review all transactions since September 2022 to ensure all suspicious activity was reported. Sutton, meanwhile, must compile an inventory of its third-party relationships.

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    Mark Wilson via Getty Images
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    Texas federal judge blocks CRA revamp

    A judge added that the Community Reinvestment Modernization Act, which was introduced four times in nine years, was not passed by the Congress.

  • Outside shot of Citigroup HQ with a sign with the Citi logo in the shot
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    Mario Tama via Getty Images
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    Citi says 71% of energy clients lack substantive transition plan or ‘ability to execute’

    The bank made the disclosure in its latest climate report in response to a proposal that had been issued by shareholder advocacy group As You Sow.

  • The exterior of a Citizens Bank is pictured.
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    Kate Tornone/Banking Dive
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    Citizens CEO knocks higher capital requirements

    “The rest of the economy is saying this has to be rethought,” CEO Bruce Van Saun said, adding the increase could scuttle lending to entrepreneurs and less affluent borrowers.

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    Integrated Financial finds another buyer in $66M deal

    Capital Bancorp agreed to buy IFH to expand its consumer and lending business. IFH’s prior deal with MVB Financial fell through in May due to delays and changing market conditions.

  • Larry Fink, CEO of BlackRock, speaks at a roundtable discussion.
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    Sean Gallup via Getty Images
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    Mississippi hands BlackRock cease-and-desist order over ESG investments

    BlackRock risks a “multimillion-dollar penalty” from the state’s Securities Division, which “has uncovered thousands of potential violations,” Mississippi's secretary of state’s office said.

  • A Banco Santander's logo is seen at a bank's branch before a news conference to announce the 2019 results on January 29, 2020 in Boadilla del Monte, in Madrid, Spain.
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    Pablo Blazquez Dominguez via Getty Images
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    Santander hires ex-Marcus chief to lead US digital transformation

    Swati Bhatia becomes the second Goldman consumer-banking vet to find a landing spot in just over a week.

  • Legal issues
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    FTX founder Sam Bankman-Fried gets 25 years in prison

    The former crypto exchange CEO was convicted in November on seven counts of fraud and conspiracy.

  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Ally names Discover CEO to its top post

    A little over a month after starting as Discover's CEO, Michael G. Rhodes is leaving to take the same position at Ally.

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    Justin Sullivan / Staff via Getty Images
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    Bank of America rolls out platform linking small businesses, CDFIs

    The online platform, a partnership with the Community Reinvestment Fund, USA, provides access to around 150 local community development financial institutions and other business support organizations.

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    Daniel Berehulak via Getty Images
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    UBS’s $15.9M pay package makes Ermotti Europe’s top-paid bank CEO

    The executive has committed to staying on at the Swiss bank through the Credit Suisse integration "if not longer," UBS said Thursday in an annual report.

  • Headshot of Jane Fraser
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    Drew Angerer via Getty Images
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    Citi wraps up reorg’s ‘major actions’

    The bank is informing employees this week of its largest round of reassignments and departures so far — changes CEO Jane Fraser said aim to put Citi "on the front foot."

  • View of a Walmart storefront
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    Justin Sullivan via Getty Images
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    Walmart can break off Capital One card partnership early, judge says

    It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.

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    Daniel Berehulak via Getty Images
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    UBS sells $8B in assets to Apollo, renegotiating Credit Suisse deal

    The bank will recognize a gain of about $300 million this quarter by spinning off a securitized products business and ending an investment management arrangement Credit Suisse struck in 2022.

  • An image shows a person on a computer and mobile device handling financial transactions.
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    Sukanya Sonlila via Getty Images
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    SBA critics push back on fintechs making 7(a) loans

    During a hearing last week, Sen. Joni Ernst, R-IA, challenged SBA Administrator Isabel Guzman over her push for direct lending by nonbank entities, highlighting the license Funding Circle received last year.

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    Fintech trade group sues to block Colorado interest-rate cap

    A law set to take effect July 1 would bar state-chartered banks from offering Coloradans installment loans and BNPL products. But it may clear the market for federally chartered banks, plaintiffs say.

  • Crypto regulation
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    Leon Neal via Getty Images
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    SEC can continue its case against Coinbase

    The agency “sufficiently pleaded that Coinbase operates as an exchange, as a broker, and as a clearing agency under the federal securities laws,” U.S. District Judge Katherine Polk Failla ruled.

  • 3d arrows and percent sign on the background of a building under construction and US banknotes. The concept of growth of financial and mortgage rates, profits in the construction industry.
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    Lari Bat
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    Ex-OCC chief, Binance.US CEO to lead mortgage broker Meridian

    Brian Brooks, who has held four other jobs since his 2020-21 OCC stint, said he would focus on building up Meridian's compliance arm, a process that could take 12 to 18 months.

  • The Capital One logo is displayed on the side of its headquarters in McLean, Va.
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    Win McNamee via Getty Images
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    Capital One pledges to give Discover’s network a boost

    Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.

  • A bicyclist rides by a Wells Fargo bank branch in San Francisco, California
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    Justin Sullivan / Staff via Getty Images
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    Wells Fargo overcharged military members, lawsuit claims

    Military families discovered the overcharges in 2022, when the bank sent misleading correspondence and payments to some customers, the proposed class action alleges.

  • Judges Or Auctioneer Gavel On The Dollar Cash Background
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    SEC asks judge to green-light $2B penalty for Ripple

    The crypto firm hasn’t accepted responsibility for the portion of XRP sales a judge ruled illegal in July, the SEC said. In a social post, Ripple’s CEO said the company would “expose the SEC for what they are” in a filing next month.

  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Citi agrees to disclose green financing ratios, following JPMorgan

    The New York City comptroller has withdrawn shareholder proposals with the two banks. The measure still faces votes at Bank of America, Goldman Sachs, Morgan Stanley and Royal Bank of Canada.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    ‘Lax lending practices’ led to Iowa bank’s downfall: FDIC OIG

    The report called out inaction on the part of the community bank’s management to address issues flagged by regulators in recent years.

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    M&T Bank hires Big Tobacco vet in chief communications role

    Sarah Knakmuhs, previously a vice president of government affairs at Phillip Morris parent Altria, will lead a team of 20 people while bolstering the bank’s internal and external communications.