Risk: Page 2


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    UK’s Metro Bank eyes £30M more in cost savings by year’s end

    The bank expects to lay off additional employees — it has cut 1,000 since October — and it will abandon its seven-day-a-week branch model.

    By March 14, 2024
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    Luna Marina via Getty Images
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    Compliance, overdraft fees may get greater focus in left-leaning NCUA

    Liquidity and interest rate risk remain “very high priorities” for regulatory agencies, credit union executives said at a conference last week.

    By Ken McCarthy • March 11, 2024
  • The Manhattan skyline in New York City. Explore the Trendline
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    Courtesy of The Howard Hughes Corp.
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    Trendline

    Top 5 stories from Banking Dive

    Banks brace to see if commercial real estate exposure will trigger a rerun of last year’s crisis. And regulators face a mountain of comments from the most contentious proposed rule in decades.

    By Banking Dive staff
  • The exterior of a Citizens Bank is pictured.
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    Kate Tornone/Banking Dive
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    Regional bank execs push back on CRE risk fears

    The banking sector relearns every 15 years not to overly concentrate its balance sheet in one area, Fifth Third CEO Tim Spence said. Meanwhile, Citizens Bank expects its CRE loan losses to peak at the end of this year.

    By March 11, 2024
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    Justin Sullivan via Getty Images
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    Deep Dive

    A year after SVB, what’s improved and what needs work?

    Banking Dive looks at six factors — from upcoming regulations to commercial real estate — to see how the landscape has changed between the crises of 2023 and 2024.

    By March 8, 2024
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    Sean Pavone via Getty Images
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    NYCB names ex-OCC chief Otting as CEO

    Former Treasury Secretary Steven Mnuchin will take a seat on the bank's board after his Liberty Strategic Capital and other investors infused NYCB with $1.05 billion.

    By March 7, 2024
  • TD Bank at One Vanderbilt
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    Permission granted by TD Bank
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    Column

    Dive Deposits: TD gives its AML woes long-haul messaging

    The bank's First Horizon stumble is as woven into its fabric as the Revlon error is for Citi, or the fake-accounts scandal is for Wells Fargo, if one looks at TD's responses to analysts.

    By March 6, 2024
  • Puerto Rican bank sues Fed for $150M in damages

    Banco San Juan Internacional filed an amended lawsuit last week over the Fed’s decision to terminate the bank’s master account.

    By March 5, 2024
  • The Manhattan skyline in New York City.
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    Courtesy of The Howard Hughes Corp.
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    NYCB names DiNello as CEO, takes $2.4B impairment charge

    The bank appointed a chief risk officer and chief audit executive Friday, hours after SEC filings revealed material weakness in the review, oversight, risk assessment and monitoring of NYCB's lending.

    By March 1, 2024
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    nathaphat via Getty Images
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    Smaller credit unions face hurdles despite NCUA’s fintech rule

    The financial innovation rule may open the door to more partnerships, but larger institutions still have advantages on tech, budget and risk management, experts say.

    By Ken McCarthy • Feb. 28, 2024
  • A Capital One sign is seen
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    Joe Raedle / Staff via Getty Images
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    Capital One sets out to tackle Discover compliance issues

    The bank projects it will spend $2.8 billion in integration costs, CFO Andrew Young said Tuesday. That's on top of the $500 million Discover is planning to spend on compliance this year.

    By Feb. 28, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Win McNamee / Staff via Getty Images
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    Capital One to acquire Discover in $35.3B deal

    The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.

    By Feb. 20, 2024
  • The Manhattan skyline in New York City.
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    Courtesy of The Howard Hughes Corp.
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    Column

    Dive Deposits: Regulators, bankers talk about NYCB without saying its name

    The Fed's vice chair for supervision pledged more scrutiny of CRE portfolios and a closer look when banks cross a certain asset threshold.

    By Feb. 16, 2024
  • People pass the JPMorgan Chase & Co. headquarters on the street.
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    Spencer Platt via Getty Images
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    JPMorgan, State Street exit Climate Action 100+ coalition

    BlackRock also revised its membership after the coalition announced its “phase 2” requirements that signatories enhance their corporate disclosure and implement climate transition plans.

    By Zoya Mirza • Feb. 15, 2024
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    Davis Turner/Stringer via Getty Images
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    Bank of America customer data exposed in IT provider breach

    A threat actor compromised Infosys McCamish Systems in November, affecting more than 57,000 Bank of America customers.

    By Feb. 13, 2024
  • citi london headuqarters
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    Oli Scarff via Getty Images
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    Citi faces rebukes, new orders from regulators: report

    The Federal Reserve sent three notices late last year instructing the lender to improve its data and governance, Reuters reported.

    By Feb. 12, 2024
  • The Wall Street sign in the Financial District of Lower Manhattan in New York City.
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    hapabapa via Getty Images
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    NYCB insiders bought 200K shares. Is this the show of confidence the bank needs?

    One analyst highlights the bank’s willingness to “eat their own cooking.” But others have their eye on commercial real estate, NYCB’s rapid growth and a tinge of Signature deja vu.

    By Feb. 12, 2024
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    jariyawat thinsandee via Getty Images
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    Q&A

    Banks should step up scam response: fraud expert

    With regulators gearing up to take a stronger stance against digital payments fraud, banks must focus on how they handle scams, one executive says.

    By Feb. 9, 2024
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    The image by Wichita Regional Chamber of Commerce is licensed under CC BY 2.0
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    Ex-Heartland Tri-State CEO charged with embezzling $47M in crypto

    A Heartland customer told authorities he saw a red flag when Shan Hanes, the bank’s CEO until July, asked him for $12 million to help take his money out of a crypto investment, according to Bloomberg.

    By Feb. 8, 2024
  • Treasury Secreatry Janet Yellen peers behind her glasses on Capitol Hill.
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    Chip Somodevilla via Getty Images
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    Yellen: CRE losses may leave banks ‘quite stressed’

    Bank regulators aim to avert turmoil caused by a slump in the value of commercial real estate, Treasury Secretary Janet Yellen said in testimony to a House committee Tuesday.

    By Jim Tyson • Feb. 7, 2024
  • Flags fly at full staff outside the NYSE with the Wall ST sign in the foreground
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    Kena Betancur via Getty Images
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    NYCB enlists ex-Flagstar CEO after Moody’s downgrade

    The bank named Alessandro DiNello as executive chair Wednesday and issued updated deposit and liquidity statistics to reassure investors. But some have still filed suit.

    By Feb. 7, 2024
  • U.S. Treasury Secretary Janet Yellen testifies before the House Committee on Financial Services
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    Win McNamee via Getty Images
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    Yellen asks Congress for stablecoin legislation

    Treasury Secretary Janet Yellen renewed a call for Congress to act on digital assets, saying “there is no appropriate regulatory framework.”

    By James Pothen • Feb. 6, 2024
  • The Manhattan skyline in New York City.
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    Courtesy of The Howard Hughes Corp.
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    NYCB’s risk chief left bank ahead of Q4 loss report, stock dip

    The bank’s announcement that it would set aside $552 million in loan-loss reserves and cut its dividend came amid pressure from the Office of the Comptroller of the Currency, Bloomberg reported.

    By Feb. 6, 2024
  • Cryptocurrency
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    da-kuk via Getty Images
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    Vast Bank discontinues crypto mobile app

    The Tulsa, Oklahoma-based lender told customers their digital assets would be liquidated and accounts would be closed. Customers will receive stranded assets via cashier’s check, the bank said.

    By Feb. 5, 2024
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    Matt Cardy via Getty Images
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    RBC subsidiary City National hit with $65M OCC penalty

    The regulator issued a cease-and-desist order mandating the bank improve its strategic plan, as well as its compliance risk management related to BSA/anti-money laundering and fair lending.

    By Feb. 1, 2024
  • Silicon Valley Bank logo
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    Justin Sullivan via Getty Images
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    Could the factors that took down SVB combine for a rerun in 2024?

    NYCB's surprise Q4 loss may stand as a warning — or an outlier — as regional banks fight for deposits, weather real estate woes and wait for interest rates to drop.

    By Jan. 31, 2024