Regulations & Policy: Page 2
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Wells Fargo clears penultimate consent order; asset cap remains
The 2015 order brought by the OCC was the 13th closed since 2019 and the seventh this year. CEO Charlie Scharf indicated Wednesday the bank is inching closer to freedom from the $1.95 trillion asset cap.
By Rajashree Chakravarty • May 30, 2025 -
"Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0Column
Dive Deposits: RBC has its eyes on the end of summer with RTO push
The Canadian bank wants its hybrid employees in the office four days a week starting in September, something it's been laying groundwork for since 2023.
By Dan Ennis • May 30, 2025 -
Explore the Trendlineâž”
wildpixel via Getty ImagesTrendlineThe Banking Dive Outlook on 2022
Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.
By Banking Dive staff -
Baltimore drops lawsuit over CFPB’s move to return funds
Bureau leadership found there was no mechanism to transfer money the Federal Reserve had given the agency. Consumer advocates warned they could sue again if the CFPB tries again to defund itself.
By Dan Ennis • May 30, 2025 -
Bank profits rise in Q1
The FDIC’s 4,462 insured banks saw a 1.16% return on assets and net income of $70.6 billion in the first quarter.
By Gabrielle Saulsbery • May 29, 2025 -
Wells Fargo’s Scharf assured over asset cap’s potential end
“We’re not done, but we’re a hell of a lot closer to the end than the beginning, at this point,” the CEO said Wednesday.
By Caitlin Mullen • May 28, 2025 -
Fed stress test court case paused until Aug. 1
Trade groups cited the central bank’s “progress” in proposing that lenders’ capital requirements be determined through a two-year average of stress test results.
By Dan Ennis • May 28, 2025 -
Supreme Court exempts Fed from Trump firings
A carve-out in last week’s SCOTUS emergency decision on agency official firings “poses a puzzle,” because the central bank’s independence rests on the same foundations as other federal agencies, a dissenting justice wrote.
By Caitlin Mullen • May 27, 2025 -
DOJ, CFPB seek to end Trustmark redlining consent order early
The agencies argue the bank paid its $5 million penalty and put money in a loan subsidy program. But the case signaled the start of a concerted Biden-era effort to fight lending discrimination.
By Dan Ennis • May 27, 2025 -
CFTC’s Kristin Johnson to exit, shrinking team further
Johnson’s pending departure this year follows announcements last week that fellow commissioners Christy Goldsmith Romero and Summer Mersinger would leave at the end of this month.
By Rajashree Chakravarty • May 22, 2025 -
JPMorgan Chase launches geopolitics center
CEO Jamie Dimon has long beat the drum on geopolitical awareness. Now, his bank wants to help clients make sense of it all.
By Gabrielle Saulsbery • May 22, 2025 -
FDIC eyes change in reserve ratio calculation
Acting Chair Travis Hill suggested the agency use total liabilities rather than insured deposits as the denominator in the formula. The FDIC on Tuesday also rescinded a bank merger policy update from last year.
By Dan Ennis • May 21, 2025 -
House follows Senate in overturning OCC merger review rule
The joint resolution to roll back the regulator’s 2024 merger rule now heads to the president for a signature.
By Caitlin Mullen • May 21, 2025 -
JPMorgan’s Dimon talks regulatory changes, crypto
The CEO didn’t mince words Monday on the bank regulatory approach over the last 15 years. Regulators “went so far beyond what was reasonable that they should be embarrassed.”
By Caitlin Mullen • May 20, 2025 -
SEC’s Crenshaw warns of ‘regulatory Jenga’
“When it comes to the stability of our markets, how far are we willing to take our dangerous game? Who would ultimately be the loser when the foundation gives way?” she asked.
By Gabrielle Saulsbery • May 20, 2025 -
CFTC will shrink to a two-person team as two commissioners leave
Commissioners Christy Goldsmith Romero and Summer Mersinger will exit at the end of the month. Brian Quintenz awaits confirmation to become the regulator’s chair.
By Rajashree Chakravarty • May 19, 2025 -
Federal Reserve. (2019). [Photograph]. Retrieved from Wikimedia Commons.
Fed to reduce headcount by 10% by end of 2027
The lower headcount will come from a voluntary deferred resignation program, not layoffs, according to an internal memo.
By Gabrielle Saulsbery • May 19, 2025 -
Capital One closes Discover deal, agrees to $425M payout
The combination caps a 15-month wait for the two finance behemoths. The $425 million would be restitution to legacy savings account holders who argued they should have received a higher interest rate.
By Dan Ennis • May 19, 2025 -
Fintech association to defend open banking in court
The Financial Technology Association will seek to protect a Consumer Financial Protection Bureau open banking rule after receiving a federal judge’s permission to intervene.
By Justin Bachman • May 16, 2025 -
CFPB slashes most of Wise penalty
The U.S. unit of fintech Wise must pay the bureau $45,000 and roughly $450,000 in redress to affected customers – a far cry from the $2.5 million penalty issued in January.
By Rajashree Chakravarty • May 16, 2025 -
Judge denies move to reduce Ripple’s penalty in SEC case
The parties failed to “address the heavy burden” involved in vacating an injunction, choosing to couch their agreement as a settlement to be approved rather than a request for relief, Judge Analisa Torres said Thursday.
By Dan Ennis • May 16, 2025 -
Fed drops enforcement action against Illinois bank
The central bank flagged deficiencies at Du Quoin State Bank in 2023 and directed the lender to improve capital, liquidity and interest rate risk management.
By Rajashree Chakravarty • May 15, 2025 -
Lawmaker seeks probe into Ramp’s bid for $25M GSA contract
Rep. Gerry Connolly, D-VA, is looking into the GSA’s contractor selection process to work on the SmartPay program, alleging an agency employee called the fintech the “favorite” to win the contract.
By Rajashree Chakravarty • May 14, 2025 -
CFPB seeks to rescind registry of nonbank repeat offenders
The NBR rule is “not necessary as a tool to effectively monitor and reduce potential risks to consumers from bad actors,” according to Acting Director Russ Vought.
By Gabrielle Saulsbery • May 14, 2025 -
Warren prods DOJ to sue to block Capital One-Discover deal
The senator urged the Justice Department’s new antitrust czar, who's expressed a general concern over the creation of too-big-to-fail firms, to “back [her] words with action.”
By Dan Ennis • May 14, 2025 -
CFPB rescinds 67 pieces of guidance
The rescissions are not final and will allow the bureau to evaluate whether each of the items was statutorily prescribed, CFPB Acting Director Russ Vought said.
By Gabrielle Saulsbery • May 12, 2025