Texas AG drops probe of major US banks after exodus from climate alliance

State Attorney General Ken Paxton said Texas will end its ongoing review of Bank of America, Morgan Stanley and JPMorgan Chase following the banks’ exits from the Net-Zero Banking Alliance.

By Zoya Mirza • Jan. 10, 2025

Barr’s likely replacement advocates for ‘pragmatic’ approach

In a speech Thursday, Federal Reserve Gov. Michelle Bowman appeared to preview her approach if she’s the incoming president’s pick as vice chair for supervision, calling for more “discipline” with policymaking.

By Caitlin Mullen • Jan. 10, 2025

Explore the Trendline➔

Top 5 stories from Banking Dive

As the banking sphere prepares for a second Trump presidency, institutions are weighing branch strategy and regulatory changes — and looking at how past crises have altered their perception of risk.

By Banking Dive staff

BlackRock wants FDIC to push back passivity agreement deadline to March

The asset manager’s head of U.S. regulatory affairs warned against “hastening the finalization of a completely new regulatory framework in a two-week period” in a letter to the regulator.

By Dan Ennis • Jan. 10, 2025

CFPB brings back sandbox but keeps competition emphasis

The bureau’s policies restore the no-action letter and sandbox designation, but feature some tweaks aimed at correcting past “shortcomings.”

By Caitlin Mullen • Jan. 9, 2025

JPMorgan Chase joins the 5-days-a-week RTO wave

“We know that some of you prefer a hybrid schedule and respectfully understand that not everyone will agree with this decision,” the bank wrote in a memo. “We think it is the best way to run the company.”

By Caroline Colvin , Dan Ennis • Updated Jan. 10, 2025

Fintech Dave alters fee structure, blasts DOJ over amended lawsuit

The cash advance online platform called the lawsuit “a continued example of government overreach.”

By Rajashree Chakravarty • Jan. 8, 2025

6 banking trends to watch in 2025

Donald Trump’s return to the White House is expected to make an impression on a number of facets in banking – from regulation to M&A to crypto.

By Dan Ennis , Rajashree Chakravarty , Caitlin Mullen , Gabrielle Saulsbery • Jan. 8, 2025

CFPB picks FDX to set open banking standards

The nonprofit will craft standards for consumer data sharing between financial institutions for the next five years.

By Patrick Cooley • Jan. 8, 2025

JPMorgan becomes latest major US bank to exit NZBA

The bank’s departure from the Net-Zero Banking Alliance follows the exits of five other major U.S. banks from the climate coalition in the past month.

By Lamar Johnson • Jan. 7, 2025

Dive Deposits: Is BNY trying to out-BofA Bank of America?

The U.S.’s oldest bank beat Bank of America to a $25-per-hour pay floor – and is touting its rank-and-file stock offerings and well-being improvements in what’s quickly becoming an annual answer to the Charlotte lender’s PR efforts.

By Dan Ennis • Jan. 7, 2025

TD’s next CEO talks about AML fiasco

Raymond Chun, appearing Tuesday at an investor conference, said the bank’s AML debacle underscored the importance of talent and external benchmarking.

By Caitlin Mullen • Jan. 7, 2025

FDIC asked for crypto ‘pause,’ not debanking, unredacted letters show

Letters released Friday tied to a court case between Coinbase and the FDIC show that the regulator asked banks to pause crypto-related activities, but did not tell banks to stop serving crypto firms.

By Gabrielle Saulsbery • Jan. 6, 2025

Fed’s Barr to step down as vice chair for supervision

Michael Barr will continue to serve on the Federal Reserve’s board of governors, the central bank said Monday.

By Caitlin Mullen • Jan. 6, 2025

KeyBank grants top execs $16.7M in equity awards after Scotia deal

CEO Chris Gorman could receive up to $11.35 million if the bank outperforms targets for capital requirements, CET1 and earnings per share. Scotiabank also named two directors to the bank’s board last week.

By Dan Ennis • Jan. 6, 2025

Balancing deregulation and compliance: The double-edged sword for banks

Deregulation reshapes banking, but compliance challenges like 1071 raise the stakes. Are you ready?

By Brynna Desantiago • Jan. 6, 2025

Morgan Stanley, BofA, Citi exit Net-Zero Banking Alliance

The financial institutions’ decision to leave the United Nations-backed climate coalition comes shortly after Goldman Sachs and Wells Fargo announced they were doing the same.

By Zoya Mirza • Jan. 3, 2025

FDIC eyes pact with BlackRock on passive investing

The regulator reportedly gave the asset manager a Jan. 10 deadline to agree to stricter oversight when holding a 10% or greater stake in banks, similar to a deal struck last week with Vanguard.

By Dan Ennis • Jan. 3, 2025

Merchants, banks spar over Fed’s debit card fee proposal

Major trade groups for merchants and banks engaged in another round of fighting last week over whether the Federal Reserve should finalize a lower debit card interchange fee rate.

By Lynne Marek • Jan. 3, 2025

Kansas bank challenges $20M FDIC penalty

CBW Bank, charged with failing to maintain adequate anti-money laundering controls, has filed a lawsuit challenging the agency’s action, calling the penalty “unreasonable and unprecedented for a bank of this size.”

By Caitlin Mullen • Jan. 2, 2025

Banking trade groups sue Fed over stress tests

The central bank, a day earlier, had said it aims to improve transparency and consider public comment on its stress-testing models and scenarios. One plaintiff calls that a “first step.”

By Dan Ennis • Jan. 2, 2025

Hawaiian Electric sells majority stake in American Savings Bank

The $450 million deal follows the Hawaiian utility company’s agreement last year to put close to $2 billion toward a joint settlement stemming from the 2023 Maui wildfires.

By Caitlin Mullen • Jan. 2, 2025

Bank of America hit with OCC order over BSA

The bank cautioned in an October filing that it was in talks with regulators over issues with its Bank Secrecy Act compliance programs.

By Gabrielle Saulsbery • Jan. 2, 2025

What Jamie Dimon’s potential successor says about regulation, customer growth

Marianne Lake, CEO of consumer and community banking at JPMorgan Chase, worries most about an uneven playing field, where “as a result of regulation or legislation, effectively, winners and losers are being picked,” she says.

By Caitlin Mullen • Jan. 2, 2025

Warren warns OCC, Fed of ‘malfeasance’ on Capital One-Discover

The incoming Senate Banking Committee ranking member blasted two regulators for failing to update bank merger guidelines as thoroughly as the FDIC and Justice Department.

By Dan Ennis • Dec. 20, 2024

Banks, trade groups seek injunction on CFPB overdraft rule

The same organizations that are suing the agency over its effort to limit overdraft fees to $5 filed court paperwork Wednesday to halt the rule’s implementation.

By Gabrielle Saulsbery • Dec. 20, 2024