How regulators, banks and fintechs can prevent another Synapse
Partnerships between innovative banks and fintechs must adopt a “shared responsibility” model for the safety and soundness of the partnership.
Exclusive: Rep. Barr offers bills to curb CFPB powers
Rep. Andy Barr, R-Ky., is introducing a bill limiting the Consumer Financial Protection Bureau’s unfair, deceptive or abusive acts and practices authority and another limiting its ability to issue investigative subpoenas.
Synapse failure reveals regulators’ BaaS blind spots
Regulators need to consider the risk and complexity of a BaaS companies and connect the dots to bank safety and soundness and consumer protection.
Morgan Stanley Swiss unit fined $1.1 million in Greek bribery case
Morgan Stanley (Switzerland) GmbH failed to prevent the laundering of millions of dollars by one of its former bankers in a Greek kickback scheme tied to arms sales.
Top banks eliminate or reduce DEI talk in annual reports
Banks’ latest annual reports, filed in the early weeks of the second Trump administration, provide a window into how the industry is adjusting to a new political climate.
TD Bank’s quarterly earnings fall short of expectations
The Canadian bank’s profits were weighed down by its U.S. operations as the bank restructures its balance sheet and manages the fallout of money-laundering compliance failures.
CFPB tailspin, banks hopeful on M&A: Top news February 2025
The changing of the guard at the Consumer Financial Protection Bureau and hope among bankers for mergers and acquisitions activity are popular items this month.
How big of a problem is debanking? No one knows for sure
Lawmakers and regulators are cracking down on banks closing consumer accounts, but neither banks nor regulators have hard numbers on how big of a problem debanking really is — or why accounts are closed.
White House sets deadline for agency-downsizing plans
Federal agencies have a little more than two weeks to devise plans for achieving significant staff reductions and cost savings.
Citi hires head of North America private bank from BofA
The hiring comes roughly a month after Ida Liu resigned and the firm embarked on a regional restructuring.