NYDFS chief details changes spurred by Signature failure

The regulator implemented new escalation protocols and an operational stress testing exercise to keep a closer eye on the “C students” under its watch, Adrienne Harris said Tuesday.

By Caitlin Mullen • March 12, 2025

Pathward CEO: Regulatory scrutiny of BaaS ‘just getting started’

Regulators will keep BaaS under the microscope, continuing to put pressure on the space and contributing to fewer banks in the space, expects Brett Pharr, the bank’s CEO.

By Caitlin Mullen • March 12, 2025

Explore the Trendline➔

The 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

Warren slams Fed over accountability on SVB execs

On the second anniversary of the bank’s failure, the senator chastised the central bank for failing to complete rulemakings to prevent similar future collapses.

By Rajashree Chakravarty • March 11, 2025

OCC shifts gears on crypto

The interpretive letter issued Friday, advising banks on engaging in certain crypto-asset activities, rescinded Biden-era guidance issued in 2021.

By Rajashree Chakravarty • March 10, 2025

CFPB raced against impending court order on 1,175 layoffs

Agency officials prepared a list of targeted firings in the hours before a judge ordered a halt Feb. 14. The CFPB’s chief operating officer is set to testify this week.

By Dan Ennis • March 10, 2025

Trump Organization accuses ‘woke’ Capital One of de-banking

The lender de-banked some 300 Trump Organization accounts because it believed “the political tide at the moment favored doing so,” a lawsuit contends. Eric Trump has suggested more big banks may be targeted.

By Caitlin Mullen • March 10, 2025

Comerica urges judge not to give CFPB more time on lawsuit

The stay requested by the CFPB would prolong the harm Comerica is experiencing due to the “meritless” lawsuit, the bank said.

By Gabrielle Saulsbery • March 7, 2025

Scott introduces bill to drop ‘reputational risk’ metric

The Republican senator argues using reputational risk in bank supervision is problematic because it’s not statutorily required, and it represents an improper use of authority.

By Rajashree Chakravarty • March 7, 2025

McKernan CFPB nod advances to full Senate

The Senate Banking Committee voted 13-11 along party lines to put the former FDIC board member in charge of the CFPB despite “disqualifying responses” to questions posed by Sen. Elizabeth Warren.

By Dan Ennis • March 7, 2025

Killing the CFPB would create a vacuum, ex-insider says

Large banks and payment players might enjoy lighter regulation if the CFPB disappears, but should be careful what they wish for, says David Silberman, a former senior administrator for the bureau.

By Justin Bachman • March 7, 2025

CFPB refreshes website, details stop-work miscommunication

Visits to the bureau’s site lead to a consumer complaint page. Meanwhile, a federal court received 100 pages of internal documents, including a fiery note to a supervision executive.

By Dan Ennis • March 6, 2025

State Street ditches board diversity requirement

The bank, which once commissioned the “Fearless Girl” statue, will no longer require company boards to feature a 30% proportion of women directors, following similar changes by BlackRock and Vanguard.

By Lamar Johnson • March 6, 2025

Consumer groups to defend Biden-era CFPB overdraft rule

The overdraft rule issued by the CFPB under previous Director Rohit Chopra, capping fees at $5, may be abandoned in the wake of the change of power, a judge said Tuesday.

By Rajashree Chakravarty • March 6, 2025

FDIC OKs Rhode Island bank’s wind-down plan

Independence Bank was ordered to pay $3.5 million in restitution after the lender allegedly charged illegal fees for Small Business Administration 7(a) loans, causing the agency to lose roughly $8.8 million.

By Caitlin Mullen • March 5, 2025

Goldman’s annual cull set for May: reports

The bank’s workforce reduction this year may affect 3% to 5% of its employees, with a special focus on vice presidents, according to The Wall Street Journal and Bloomberg.

By Dan Ennis • March 5, 2025

Crypto firm Tether appoints new CFO, names predecessor as chair

The stablecoin issuer aims to conduct a full audit in a bid to leave behind a somewhat checkered past with U.S. regulators as the Trump administration courts the crypto industry.

By Grace Noto • March 4, 2025

Judge orders CFPB’s COO to testify

The court aims to get to the root of conflicting messages as to what work is being ordered and done at the imperiled agency. The bureau remains barred from mass firings and reportedly asked to dismiss a lawsuit against Comerica.

By Dan Ennis • March 4, 2025

FDIC withdraws merger policy, brokered deposits proposal

The regulator’s board voted Monday to scrap four Biden-era proposed rules and a policy that applied greater scrutiny to bank mergers.

By Caitlin Mullen • March 4, 2025

Current, ex-CFPB employees detail bureau takedown effort

About a dozen agency workers testify on a three-phase “wind-down mode,” ahead of a hearing that may hold the bureau’s future in the balance.

By Dan Ennis • March 3, 2025

CFPB ditches lawsuit against Capital One

The bureau reversed course Thursday after accusing the bank last month of obscuring a higher-paying savings product from some legacy savings account holders.

By Caitlin Mullen • Feb. 28, 2025

Dive Deposits: Goldman brings banking’s DEI retreat full circle

After scrapping a policy requiring board diversity for companies it advises, Goldman backed off its own equity initiatives. But its CEO is keeping a strong stance on diversity’s value.

By Dan Ennis • Feb. 28, 2025

TD racks up AML remediation costs

After spending $86 million in Q1, the bank expects to spend $500 million on AML remediation costs and governance and control investment in fiscal 2025.

By Gabrielle Saulsbery • Feb. 27, 2025

Senators probe McKernan at nomination hearing

Given recent turmoil at the CFPB, Sen. Elizabeth Warren said Jonathan McKernan – nominated to lead the agency – seems “lined up to be the No. 1 horse at the glue factory.”

By Caitlin Mullen • Feb. 27, 2025

Colorado, Virginia legislation would impact fintech lending

The FDIC withdrew support for Colorado's “opt-out” law allowing interstate interest rate exportation, while Virginia's pending bill would restrict fintech lending statewide.

By Rajashree Chakravarty • Feb. 26, 2025

CFPB ex-enforcement chief shares concerns at lawmaker forum

Democratic senators, led by Elizabeth Warren, blasted DOGE’s infiltration of the agency, highlighting potential conflicts of interest and a drop in responses to consumer complaints.

By Dan Ennis • Feb. 26, 2025