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

Explore the Trendline➔

M&A

President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.

By Banking Dive staff

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

Why the rampant underreporting of fraud? Shame, 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

Bank of America bumps Moynihan’s pay to $35M for 2024

BofA CEO Brian Moynihan received a 21% pay raise, according to a Friday filing. Capital One disclosed a $31 million incentive to CEO Richard Fairbank on the same day.

By Rajashree Chakravarty • Feb. 10, 2025

Ex-NCUA chief tapped to be OCC acting comptroller

Rodney Hood said he “will work diligently to promote a regulatory environment that is effective without being excessive.”

By Caitlin Mullen • Feb. 10, 2025

CFPB’s future hangs in the balance after a wild weekend

Headquarters-based staff will work remotely this week after a new acting chief halted agency supervision and enforcement and told the Fed he wouldn't take any unappropriated funding next quarter.

By Dan Ennis • Feb. 10, 2025

5 takeaways from Michelle Bowman on innovation, de-banking and fighting fraud

The perhaps-future Federal Reserve vice chair for supervision argued in favor of transparency for crypto, smarter examinations and more responsibility from banks.

By Dan Ennis • Feb. 7, 2025

Brink’s subsidiary to pay $42M to settle FinCEN, DOJ claims

The armored car company will pay FinCEN and the DOJ $42 million over three years following its willful admission to Bank Secrecy Act violations.

By Gabrielle Saulsbery • Feb. 7, 2025

Fed releases 2025 stress test scenarios

The stress test, which will include 22 banks compared to last year’s 32, will feature two added hypothetical elements for the Fed’s “exploratory analysis” of the banking system.

By Rajashree Chakravarty • Feb. 6, 2025