5 key takeaways from Rodney Hood’s 1st public speech as OCC acting chief

The regulator outlined his top priorities – including financial inclusion, technology and cybersecurity – while speaking at a conference for community bankers. 

By Rajashree Chakravarty • Feb. 20, 2025

UMB embraces ‘consolidator’ role

The bank’s recent acquisition of HTLF boosted its wealth business by 32% “overnight” and doubled its branch footprint. But UMB CEO Mariner Kemper said he is taking systems conversion deliberately slowly.

By Caitlin Mullen • Feb. 20, 2025

Explore the Trendline➔

Artificial 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

Fed’s Barr: Race to tap generative AI exacerbates risks

As more nimble nonbanks employ a “risk-forward” attitude toward generative AI, the Fed’s outgoing vice chair for supervision called for monitoring how the technology’s introduction alters banking.

By Caitlin Mullen • Feb. 19, 2025

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.

By Zoya Mirza • Feb. 19, 2025

Trump order tightens White House grip on Fed, SEC

Under the order, independent agencies must submit for review “significant” regulations to a unit within the Office of Management and Budget. The order gives OMB Director Russ Vought power over independent agencies’ budgets.

By Caitlin Mullen • Feb. 19, 2025

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.

By Patrick Cooley • Feb. 19, 2025

Fed delays start of new Fedwire standard

The central bank postponed a deadline for banks and credit unions to move Fedwire payments to the ISO 20022 format. That may also hold up a broader industry modernization effort.

By Lynne Marek • Feb. 19, 2025

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. 

By Rajashree Chakravarty • Feb. 18, 2025

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.

By Caitlin Mullen • Feb. 18, 2025

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.

By Lynne Marek • Feb. 18, 2025

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.

By Dan Ennis • Feb. 18, 2025

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.

By Dan Ennis • Feb. 14, 2025

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.

By Rajashree Chakravarty • Feb. 13, 2025

CFPB in ‘trauma’

A look at changes at the bureau in the second Trump era — from cycling out Rohit Chopra to bringing in DOGE and an acting chief who ordered employees to stop working.

By Dan Ennis • Feb. 13, 2025

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.

By Gabrielle Saulsbery • Feb. 12, 2025

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.

By Zoya Mirza • Feb. 12, 2025

‘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.”

By Caitlin Mullen • Feb. 12, 2025

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.

By Patrick Cooley • Feb. 12, 2025

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.

By Gabrielle Saulsbery • Feb. 12, 2025

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.

By Gabrielle Saulsbery • Feb. 12, 2025

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.

By Dan Ennis • Feb. 12, 2025

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.”

By Dan Ennis • Feb. 11, 2025

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.

By Rajashree Chakravarty • Feb. 11, 2025

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.

By Caitlin Mullen • Feb. 11, 2025

Senators reintroduce bill to bar CBDC

Republican senators revived a bill last week to block the Federal Reserve from creating a central bank digital currency.

By Lynne Marek • Feb. 10, 2025