Risk
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Spencer Platt / Staff via Getty Images
NYCB to sell $5B in mortgage loans to JPMorgan Chase
The transaction is set to finalize in the third quarter. NYCB has pledged to cut its commercial real estate exposure to about $30 billion as it revamps its balance sheet.
By Dan Ennis • May 15, 2024 -
Michael M. Santiago / Staff via Getty Images
JPMorgan retakes title as top fossil-fuel financier, nonprofit says
U.S. banks accounted for 30% of the $705 billion that 60 global banks spent on fossil-fuel financing in 2023, the Rainforest Action Network found.
By Lamar Johnson • May 15, 2024 -
Trendline
Fraud and AML in banking
It’s not just big banks like Citi and TD that face stiffer AML oversight from regulators. The FDIC is looking closely at banks offering BaaS alongside fintechs.
By Banking Dive staff -
Creative via Getty Images
Kabbage to pay $120M in PPP fraud settlements with DOJ
The second-largest PPP lender in the nation by application volume “knowingly submitted thousands of false claims” and employed lax fraud controls, the Justice Department said.
By Caitlin Mullen • May 14, 2024 -
Dan Kitwood via Getty Images
StanChart pledges to reduce methane emissions from oil, gas clients
The goal aligns with the British bank’s aim to decrease its financed carbon emissions and accelerate its pathway to net-zero status by 2050.
By Zoya Mirza • May 13, 2024 -
Justin Sullivan / Staff via Getty Images
Pot banking bill advocates push for action this year
Proponents hope the SAFER Banking bill can be attached to a larger legislative vehicle, as stand-alone passage in the Senate seems increasingly unlikely.
By Caitlin Mullen • May 13, 2024 -
Chip Somodevilla via Getty Images
Climate risks ‘highly uncertain,’ ‘challenging,’ banks tell Fed
In the climate scenario exercise, the nation’s six biggest banks found data gaps in real estate exposure, insurance, debtors’ transition risk management and infrastructure.
By Caitlin Mullen • May 10, 2024 -
Natalie Meepian via Getty Images
TabaPay calls off deal with Synapse
TabaPay sent Synapse a termination notice of the transaction Thursday, “based on failure to meet the purchase agreement closing conditions,” a TabaPay spokesperson said.
By Rajashree Chakravarty • May 10, 2024 -
Chip Somodevilla via Getty Images
Upstart subpoenaed by SEC over AI, loans
“We are cooperating with the SEC and are unable to predict the outcome of this matter,” the fintech lender said in a filing Tuesday.
By Rajashree Chakravarty • May 9, 2024 -
Leon Neal / Staff via Getty Images
FTX to repay customers more than they lost
The collapsed cryptocurrency exchange, which owes creditors about $11.2 billion, has between $14.5 billion and $16.3 billion available to distribute to them.
By Caitlin Mullen • May 9, 2024 -
Drew Angerer / Staff via Getty Images
TD begins damage control after fentanyl report
In the "sobering" aftermath of the bank's AML crisis, executives are detailing an improvement plan and reassuring employees, but analysts are calling for change in the face of a "lost decade."
By Dan Ennis • May 8, 2024 -
Sukanya Sonlila via Getty Images
Third-party risk guide ‘a welcome sign,’ analysts say
The guide from the Fed, OCC and FDIC aims to help bankers “get in the same mindset as the examination team” when assessing and managing third-party relationship risks, said the ICBA’s Michael Emancipator.
By Caitlin Mullen • May 7, 2024 -
Spencer Platt / Staff via Getty Images
Robinhood may face SEC lawsuit over crypto unit
In a blog post, the company cited its "good-faith attempts" with the agency. At least one analyst said Robinhood has no incentive to sue because the SEC chair's term is up in two years.
By Dan Ennis • May 7, 2024 -
Pgiam via Getty Images
FirstSun, HomeStreet seek charter change for merger
FirstSun opted for a Texas state charter to skirt oversight by the OCC. Executives said that agency is slowing the banks’ tie-up over concerns with HomeStreet's CRE exposure.
By Dan Ennis • May 6, 2024 -
Oli Scarff via Getty Images
Oklahoma adds Barclays to anti-ESG list
The British bank joins JPMorgan Chase, BlackRock, Bank of America, Wells Fargo and State Street and eight other financial institutions on the list.
By Rajashree Chakravarty • May 6, 2024 -
Justin Sullivan / Staff via Getty Images
Wells Fargo says US authorities probing Zelle disputes
JPMorgan also said it was responding to civil and government authorities’ inquiries regarding handling Zelle customer disputes. The banks did not divulge further details.
By Rajashree Chakravarty • May 3, 2024 -
Mario Tama via Getty Images
ColumnDive Deposits: Citi’s climate portrait shows a big contrast
This week, Citi disclosed it is on pace to reach its 2030 sustainable finance goals, but Reuters also found a draft indicating the losses the bank would incur if the world goes net zero.
By Dan Ennis • May 3, 2024 -
Justin Sullivan via Getty Images
SVB to sell venture-capital arm to investment firm Pinegrove
SVB Capital will be acquired for a combination of cash and “other economic consideration,” the companies said, without giving details on the deal’s value.
By Caitlin Mullen • May 3, 2024 -
Spencer Platt via Getty Images
JPMorgan expects to pay $100M more in trading penalties
The penalty, which the lender said it will pay to a third, unnamed U.S. regulator, adds to the $348.2 million JPMorgan agreed to pay the OCC and the Fed in March.
By Rajashree Chakravarty • May 2, 2024 -
Spencer Platt / Staff via Getty Images
NYCB posts $335M loss, but shares jump on turnaround plan
CEO Joseph Otting said the lender has “identified an opportunity” to sell $5 billion in assets but declined to share details until a deal is final.
By Caitlin Mullen • May 1, 2024 -
Permission granted by TD Bank
TD sets aside $450M for AML penalties
The amount, however, is meant to cover the fine from just one of the three U.S. regulators investigating the bank's anti-money laundering systems.
By Dan Ennis • May 1, 2024 -
Creative via Getty Images
Q&ARepublic First not alone in feeling unrealized losses: analyst
“There will be banks that have similar problems to this,” necessitating an infusion of capital or a sale, said Robert Hartheimer, an FDIC veteran who now works at consulting firm Klaros Group.
By Caitlin Mullen • May 1, 2024 -
Spencer Platt / Staff via Getty Images
NYCB postpones annual meeting by 2 weeks
The bank, at the time of the delay, had yet to say when it would report first-quarter results. Those are coming Wednesday.
By Caitlin Mullen • April 30, 2024 -
Anna Hrushka/Banking Dive
FDIC hits Alabama, Oklahoma banks with consent orders
In separate orders, the regulator said the banks must step up their anti-money laundering compliance programs and ensure their related training programs are sufficient.
By Caitlin Mullen • April 29, 2024 -
Kate Tornone/Banking Dive
Citizens Bank funds green jobs program for New York’s offshore wind sector
The bank’s philanthropic arm will commit $600,000 over two years to financially support Brooklyn-based youth in pursuing careers in the renewable energy sector.
By Zoya Mirza • April 29, 2024 -
Chris Hondros via Getty Images
Russian court orders seizure of nearly $440M in JPMorgan funds
The ongoing legal battle between state-owned VTB Bank and the largest U.S. bank revolves around funds frozen in the wake of Russia’s invasion of Ukraine and subsequent sanctions.
By Rajashree Chakravarty • April 25, 2024
