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Skip to main content CONTINUE TO SITE ➞ DON’T MISS TOMORROW’S BANKING INDUSTRY NEWS Let Banking Dive’s free newsletter keep you informed, straight from your inbox. * Daily Dive M-F Topics include: Commercial banking, payments, credit unions, technology, risk, regulations, policy * Fintech Weekly Every Wednesday Topics covered: Bank/fintech relationship, banks buying fintechs, regulations, rise of neobanks By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. * Deep Dive * Opinion * Library * Events * Press Releases * Topics Sign up * Search * Sign up Search * Commercial * Retail * Credit Unions * Payments * Regulations & Policy * Technology * Risk * Fintech REGULATIONS & POLICY -------------------------------------------------------------------------------- * Chris Hondros via Getty Images JPMORGAN CHASE SUED OVER BOUNCED CHECK FEES The lawsuit filed Tuesday claimed JPMorgan charged “unconscionable” and “predatory” fees for returned checks between November 2021 and October 2022. By Rajashree Chakravarty • Feb. 22, 2024 * Retrieved from Senate Banking Committee. OCC’S HSU CALLS FOR FEDERAL PAYMENTS LICENSING The acting comptroller called on Congress to replace the state-by-state money transmitter licensing system for payments companies with a federal regulatory framework. By James Pothen • Feb. 22, 2024 * Explore the Trendline➔ Courtesy of The Howard Hughes Corp. 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 * Drew Angerer via Getty Images FRASER’S PAY IS STILL ON THE BOTTOM RUNG, BUT THE FLOOR HAS RISEN The Citi CEO saw a 6.1% compensation boost to $26 million — on trend among bank chiefs — in a year when the lender launched its toughest reshuffle. By Dan Ennis • Feb. 21, 2024 * Chip Somodevilla via Getty Images CROSS-BORDER PAYMENTS REMAIN FOCUS FOR FED Tools that “automate processes, reduce costs and promote effective safeguards across jurisdictions” may help improve cross-border payments, a Federal Reserve official said last week. By Lynne Marek • Feb. 20, 2024 * Access now➔ Fotolia Trendline CREATING WINNING CUSTOMER SERVICE IN THE BANKING INDUSTRY Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have. Access now➔ Fotolia Trendline CREATING WINNING CUSTOMER SERVICE IN THE BANKING INDUSTRY Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have. * Kent Nishimura via Getty Images WARREN PROBES ZELLE SCAM POLICY Three senators, including Elizabeth Warren, asked Zelle owner Early Warning Services to provide detailed information about its fraud reimbursement policy. By James Pothen • Feb. 20, 2024 * Win McNamee / Staff via Getty Images 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 Dan Ennis • Feb. 20, 2024 * Courtesy of The Howard Hughes Corp. 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 Dan Ennis • Feb. 16, 2024 * Anna Moneymaker via Getty Images FED UNVEILS 2024 STRESS TEST SCENARIOS The results of the stress test, which will include 32 banks instead of 23 compared to last year, are expected to be out in June, the Federal Reserve said. By Ken McCarthy • Feb. 16, 2024 * Access now➔ Trendline NAVIGATING THE COMPLIANCE LANDSCAPE IN BANKING Compliance is more than just individual orders and actions. Banking Dive explores some of the most-anticipated — and debated — upcoming rules with which banks may have to comply. Access now➔ Trendline NAVIGATING THE COMPLIANCE LANDSCAPE IN BANKING Compliance is more than just individual orders and actions. Banking Dive explores some of the most-anticipated — and debated — upcoming rules with which banks may have to comply. * Justin Sullivan via Getty Images WELLS FARGO FAKE-ACCOUNTS CONSENT ORDER LIFTED BY OCC The Office of the Comptroller of the Currency said the bank’s “safety and soundness” and its compliance with regulations have prompted the agency to terminate the 2016 consent order. By Rajashree Chakravarty • Feb. 16, 2024 * Chris Hondros via Getty Images VIVA WALLET CEO SUES JPMORGAN, CLAIMING BANK IS LIMITING GROWTH Haris Karonis alleges JPMorgan, which owns 48.5% of Viva, is seizing on “perverse incentives” that allow the bank to take full control of the fintech if its value falls below €5 billion next year. By Gabrielle Saulsbery • Feb. 15, 2024 * Permission granted by SoLo Funds SOLO FUNDS NEARS 2M USERS The peer-to-peer lending platform has faced some regulatory backlash, but a study from London’s Centre for Economics and Business Research shows it’s cheaper than many other subprime options. By Gabrielle Saulsbery • Feb. 14, 2024 * Pablo Blazquez Dominguez via Getty Images SANTANDER SAYS NO BREACHES OF US SANCTIONS FOUND IN INTERNAL REVIEW: REPORTS The Spanish bank conducted an internal review following a Financial Times report that money held there violated sanctions held by the U.S. against Iran, according to a memo seen by Bloomberg and Reuters. By Gabrielle Saulsbery • Feb. 14, 2024 * Access now➔ Trendline THE GROWING USE OF AI IN BANKING In the year since ChatGPT debuted, established banks and challengers have raced to harness the technology, and executive talk on AI has become decidedly more plentiful. * Justin Sullivan via Getty Images IRS SUES FDIC TO GET $1.45B IN SVB BACK TAXES The amount covers corporate income and employment taxes due between 2020 and 2023, but is an estimate because a review of the tax returns is ongoing, the IRS said. The FDIC has denied SVB’s entire tax claim. By Dan Ennis • Feb. 14, 2024 * Win McNamee via Getty Images BANK LOBBYISTS RIDE A 15-YEAR HIGH Thanks in part to a contentious capital requirements proposal, banks — especially midsize ones — have their highest lobbyist headcount since 2008, according to OpenSecrets. By Dan Ennis • Feb. 13, 2024 * Oli Scarff via Getty Images 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 Rajashree Chakravarty • Feb. 12, 2024 * Just_Super via Getty Images NY AG EXPANDS SUIT AGAINST DCG Attorney General Letitia James initially alleged that Digital Currency Group and others defrauded investors of $1 billion. Now, after hearing from more investors, that number is up to $3 billion. By Gabrielle Saulsbery • Feb. 12, 2024 * Oli Scarff via Getty Images BARCLAYS CEASES DIRECT FUNDING OF NEW FOSSIL FUEL PROJECTS The London-based bank will also require all of its portfolio energy companies to report their scoped emissions reductions targets and any expansion plans by Jan. 1, 2025. By Lamar Johnson • Feb. 12, 2024 * Courtesy of U.S. Bank U.S. BANK, KEYBANK, HUNTINGTON TAGGED IN $81M ROUND OF SEC PENALTIES KeyBank ($10 million) and U.S. Bank ($8 million) warned investors of the WhatsApp probes in November. Huntington ($1.5 million) self-reported and took the smallest penalty, the SEC said. By Dan Ennis • Feb. 9, 2024 * MF3d via Getty Images YELLEN BACKS LEGISLATION TO AVERT AI THREAT TO FINANCIAL STABILITY Testimony by the Treasury secretary follows a pledge by the Biden administration to seize on the benefits of artificial intelligence while containing its risks. By Jim Tyson • Feb. 8, 2024 * The image by Wichita Regional Chamber of Commerce is licensed under CC BY 2.0 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 Gabrielle Saulsbery • Feb. 8, 2024 * Courtesy of https://press.bunq.com/media_kits/228411/ DUTCH NEOBANK BUNQ WITHDRAWS APPLICATION FOR US BANKING CHARTER Bunq is the latest in a line of European neobanks to back out of pursuing a U.S. banking charter, though it stated plans to reapply, American Banker reported. By Rajashree Chakravarty • Feb. 8, 2024 * Permission granted by Fiserv FISERV CEO DETAILS SPECIAL BANK CHARTER PURSUIT The processing and acquiring company, which seeks a “very specific” special bank charter, doesn’t intend to compete with its financial institution partners, Fiserv CEO Frank Bisignano said Tuesday. By Caitlin Mullen • Feb. 7, 2024 * Kena Betancur via Getty Images 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 Dan Ennis • Feb. 7, 2024 * robertcicchetti via Getty Images FNB TO PAY $13.5M TO SETTLE DOJ REDLINING PROBE The bank, between 2017 and 2021, failed to provide mortgage services to predominantly Black and Hispanic neighborhoods in Charlotte and Winston-Salem, North Carolina, the agency said. By Ken McCarthy • Feb. 6, 2024 * ultramarine5 via Getty Images BANK GROUPS SUE REGULATORS OVER CRA UPDATES ″[T]he new and unnecessarily complex evaluation could result in banks being forced to close branches or reduce product offerings,” according to ICBA CEO Rebeca Romero Rainey. By Gabrielle Saulsbery • Feb. 6, 2024 More stories Access now➔ Trendline THE GROWING USE OF AI IN BANKING In the year since ChatGPT debuted, established banks and challengers have raced to harness the technology, and executive talk on AI has become decidedly more plentiful. 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