Risk
-
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 -
Explore the Trendline➔
da-kuk via Getty Images
TrendlineArtificial intelligence
A Federal Reserve official warned about the AI “arms race” banks face against cyber threats. But what about their race against each other?
By Banking Dive staff -
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 -
Getty Images/Staff via Getty Images
Synapse signs deal with TabaPay, files for bankruptcy
TabaPay has set a purchase price of $9.7 million to acquire Synapse's assets — a deal that is pending court approval.
By Rajashree Chakravarty • April 24, 2024 -
Permission granted by First Internet Bank
First Internet Bank CEO talks M&A, BaaS work
After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.
By Caitlin Mullen • April 24, 2024 -
Win McNamee / Staff via Getty Images
For Capital One and Discover, the 4th time may have been the charm
Discover rebuffed three Capital One pitches before agreeing to a deal, and talks halted for seven weeks, an SEC filing indicates.
By Dan Ennis • April 22, 2024 -
Permission granted by Office of the Comptroller of the Currency
OCC fines ex-CEO, founder of Michigan’s Sterling Bancorp
The executives were each ordered to pay civil penalties related to a troubled loan program the bank ran between 2011 and 2019.
By Caitlin Mullen • April 19, 2024 -
Scott Olson via Getty Images
Discover puts $799M more toward card misclassification issue
The card network opted to increase the card misclassification remediation reserve based in part on discussions with regulators, executives said Thursday.
By Caitlin Mullen • April 18, 2024 -
Michael M. Santiago via Getty Images
Pathward to pay refunds, penalty tied to NY AG investigation
The bank, a frequent partner to fintechs, froze customer accounts and transferred money to debt collectors, violating state law, the NY AG’s office said.
By Caitlin Mullen • April 17, 2024 -
Drew Angerer / Staff via Getty Images
Wells Fargo CEO Scharf details asset cap limitations
When the cap is removed, the CEO anticipates Wells can further invest in its consumer or wealth businesses, build out its product offerings and be more aggressive on lending and deposits.
By Caitlin Mullen • April 16, 2024 -
Joe Raedle / Staff via Getty Images
Capital One shareholders urged to approve scope 3 target-setting proposal
The New York State Common Retirement Fund said the targets are necessary to fully assess the bank’s climate risk exposure and mitigation strategies.
By Lamar Johnson • April 15, 2024 -
Mario Tama / Staff via Getty Images
Q&ABofA evolves AI-powered assistant toward deeper digital integration
Six years into the Erica era, customers are taking advantage of the tool's insights as often as they're asking questions of it, said Nikki Katz, the bank's head of digital.
By Caitlin Mullen • April 15, 2024 -
Michael M. Santiago via Getty Images
Bankman-Fried files to appeal conviction, sentence
In an email interview following his sentencing, the FTX founder told ABC News he’s “haunted, every day, by what was lost. I never intended to hurt anyone or take anyone’s money.”
By Gabrielle Saulsbery • April 12, 2024 -
hapabapa via Getty Images
Citi’s reorg job toll climbs to 7,000: Fraser
The bank boosted its expectation for annual savings to $1.5 billion. Meanwhile, Citi, Wells Fargo and JPMorgan Chase reported marked increases in FDIC special assessment costs.
By Caitlin Mullen • April 12, 2024 -
Win McNamee via Getty Images
Gruenberg: FDIC knows how it would wind down a G-SIB
Until the FDIC and regulators are tasked with a G-SIB wind-down, and until they do so successfully, questions will arise “as to whether it can be done,” the agency chief said.
By Gabrielle Saulsbery • April 11, 2024 -
Courtesy of KeyBank
KeyBank scouts for fintech partners
The bank, which has yet to strike a fintech partnership this year, generally enters into one to two each year, said Ken Gavrity, president of Key Commercial Bank.
By Caitlin Mullen • April 10, 2024 -
Sean Pavone via Getty Images
Utah Ponzi scheme case envelops bank executive
Bank of Utah’s vice president and senior trust officer knowingly disregarded fraudulent activity and divulged protected financial information, a lawsuit asserts.
By Gabrielle Saulsbery • April 9, 2024 -
Win McNamee / Staff via Getty Images
Dimon blasts regulation, proxy advisers in annual letter
The JPMorgan Chase CEO also gave prominent space to AI, touting its potential impact in software engineering, customer service and operations, “as well as in general employee productivity."
By Caitlin Mullen • April 8, 2024 -
Matt Cardy via Getty Images
RBC joins Citi, JPMorgan in disclosing green financing ratios
Shareholder proposals put forward by New York City’s retirement system have been pulled at all three banks, the city's comptroller, Brad Lander, said this week.
By Lamar Johnson • April 5, 2024 -
Mario Tama via Getty Images
Citi says 71% of energy clients lack substantive transition plan or ‘ability to execute’
The bank made the disclosure in its latest climate report in response to a proposal that had been issued by shareholder advocacy group As You Sow.
By Lamar Johnson • April 1, 2024 -
Sean Gallup via Getty Images
Mississippi hands BlackRock cease-and-desist order over ESG investments
BlackRock risks a “multimillion-dollar penalty” from the state’s Securities Division, which “has uncovered thousands of potential violations,” Mississippi's secretary of state’s office said.
By Lamar Johnson • March 29, 2024
