Silvergate ex-CFO seeks dismissal of SEC charges

Antonio Martino filed for dismissal Tuesday, seven months after the SEC fined Silvergate and banned two of its executives from C-suite positions for five years.

By Gabrielle Saulsbery • Jan. 16, 2025

U.S. Bank scouts for agentic AI as age of ‘do it for me’ awaits

The super-regional’s chief innovation officer said there’s a fine line between being proactive and helpful, versus being proactive and creepy. “We don’t want to cross the creepy line,” he said.

By Caitlin Mullen • Jan. 16, 2025

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

Employer.com expands into bookkeeping services with Bench acquisition

The workforce management firm acquired the Vancouver-based bookkeeping fintech after Bench announced it was shutting down. Bench applied for bankruptcy on Jan. 9 in a Canadian court.

By Rajashree Chakravarty • Jan. 15, 2025

BaaS outlook brighter after period of growing pains

Regulatory scrutiny of the banking-as-a-service model won’t disappear, but the number of BaaS-related enforcement actions this year is expected to be more of a trickle than a flood.

By Caitlin Mullen • Jan. 15, 2025

Robinhood to pay $45M to settle SEC charges

Robinhood Securities will pay $33.5 million and Robinhood Financial will pay $11.5 million to settle a variety of charges, including recordkeeping and cybersecurity violations.

By Gabrielle Saulsbery • Jan. 15, 2025

FDIC’s Hill sets out priorities for agency’s ‘new direction’

The agency’s vice chair anticipates a shift in bank supervision that emphasizes core financial risks over a process-related focus.

By Caitlin Mullen • Jan. 13, 2025

CFPB brings back sandbox but keeps competition emphasis

The bureau’s policies restore the no-action letter and sandbox designation, but feature some tweaks aimed at correcting past “shortcomings.”

By Caitlin Mullen • Jan. 9, 2025

Finastra taps new CEO

Chris Walters will succeed Simon Paris, the current CEO of the London-based software firm, who announced Monday he is stepping down from his role.

By Rajashree Chakravarty • Jan. 8, 2025

Judge stays Coinbase, SEC case

Judge Katherine Polk Failla granted Coinbase an interlocutory appeal, leading to a stay, so another court can decide one of the most pressing questions in crypto.

By Gabrielle Saulsbery • Jan. 8, 2025

6 banking trends to watch in 2025

Donald Trump’s return to the White House is expected to make an impression on a number of facets in banking – from regulation to M&A to crypto.

By Dan Ennis , Rajashree Chakravarty , Caitlin Mullen , Gabrielle Saulsbery • Jan. 8, 2025

How Wells Fargo aims to boost trust among underbanked

The bank has been focused on providing services that are “in language and in culture” to foster trust and transparency, said Michael Martino, head of Wells’ inclusion initiative.

By Caitlin Mullen • Jan. 8, 2025

Kraken decries crypto de-banking amid Metro Bank ban

Metro is one of several U.K. lenders to impose a bar or limit on deposits into crypto exchanges. A Metro Bank spokesperson says the thrust is to curb fraud.

By Gabrielle Saulsbery • Dec. 19, 2024

Flagstar fined $3.5M for ‘misleading’ after 2021 cyberattack

The bank “negligently made” materially misleading statements after a hack that resulted in the theft of 1.5 million customers’ personally identifying information.

By Gabrielle Saulsbery • Dec. 19, 2024

Tokenized securities firm Prometheum raises $20M

Co-CEO Aaron Kaplan plans to use the funds to launch trading services, and to provide a venue for financial institutions and investment firms to offer investors tokenized securities.

By Gabrielle Saulsbery • Dec. 18, 2024

A running list of BaaS banks hit with consent orders in 2024

Regulators have taken a harder look at bank-fintech partnerships. Experts said the orders highlight gaps in due diligence and monitoring related to third-party partners.

Dec. 18, 2024

Ally CEO indicates card business not a core focus

“In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.

By Caitlin Mullen • Dec. 13, 2024

Gen Digital to acquire MoneyLion in $1B deal

Gen, the global parent firm of cyber safety brands Norton and Avast, will pay $82 per share in cash to add the consumer finance fintech to its roster.  

By Rajashree Chakravarty • Dec. 11, 2024

FDIC letters give credence to ‘Choke Point 2.0’ claims: Coinbase CLO

The agency asked nearly two dozen banks to pause crypto-related activity in 2022, according to letters unveiled via Coinbase’s FOIA requests.

By Gabrielle Saulsbery • Dec. 11, 2024

Citi CFO: Evolving data standards make upgrade more complex

Mark Mason, the bank’s finance chief, also said the focus on the need to improve data tied to regulatory reporting isn’t unique to Citi.

By Caitlin Mullen • Dec. 10, 2024

Citizens tweaks features, eyeing primacy for customers

Recent upgrades to the super-regional’s digital experience are aimed at fueling primacy with clients, a Citizens executive said, as banks vie to be their customers’ No. 1.

By Caitlin Mullen • Dec. 6, 2024

Dive Deposits: Citi begins December with a data dump

The bank’s split of Mexican operations was just the beginning. There were also 344 promotions to managing director, a high-profile exit, an AI rollout and a block-trade stumble.

By Dan Ennis • Dec. 6, 2024

Celsius founder Mashinsky pleads guilty to fraud

His two-count guilty plea could send the 59-year-old to prison for 30 years.

By Gabrielle Saulsbery • Dec. 4, 2024

Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump

The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.

By Caitlin Mullen • Dec. 4, 2024

Trump taps crypto lobbyist to lead SEC

Trump’s nominee, Paul Atkins, served as a commissioner at the SEC under former President George W. Bush.

By Alexei Alexis • Dec. 4, 2024

Crypto leaders have knives out for attorneys leaving the SEC

Coinbase and Ripple executives want law firms not to hire lawyers who worked on lawsuits against them.

By Robert Freedman • Dec. 4, 2024