Dan Ennis

Arlington

Senior Editor at Banking Dive

Banking journalist. Dog rescuer. Husband. Improviser. Syracuse Orange fan.

Articles

Trump signs resolution to nix CFPB overdraft rule

5 days ago | bankingdive.com | Dan Ennis

President Donald Trump signed a resolution Friday to overturn the Consumer Financial Protection Bureau’s final rule that would have capped, at $5, the overdraft fee that banks and credit unions with more than $10 billion in assets could charge. “The Biden administration’s ill-conceived rule imposing new price controls on overdraft services … harmed the very consumers the CFPB is supposed to protect,” Sen. Tim Scott, R-SC, said in a statement Friday.
Ripple would get $75M back under SEC settlement

1 week ago | bankingdive.com | Dan Ennis

Ripple would get back $75 million of the $125 million penalty to which it consented last August under an agreement the crypto firm made with the Securities and Exchange Commission in a court filing Thursday.
Coinbase to buy options exchange Deribit in $2.9B deal

1 week ago | bankingdive.com | Dan Ennis

Coinbase has agreed to acquire Dubai-based crypto options exchange Deribit in a $2.9 billion deal set to close by the end of this year, the companies announced Thursday. The deal aims to expand Coinbase’s international foothold: Deribit controls roughly 85% of the global crypto options market, according to CoinDesk – and reported $1.2 trillion in trading volume last year, a 95% jump over 2023. About 20% of Coinbase’s revenue now originates overseas.
Ripple would get $75M back under SEC settlement

1 week ago | finance.yahoo.com | Dan Ennis

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Ripple would get back $75 million of the $125 million penalty to which it consented last August under an agreement the crypto firm made with the Securities and Exchange Commission in a court filing Thursday.
Senate votes to overturn OCC ban on expedited merger review

1 week ago | bankingdive.com | Dan Ennis

The Senate voted Wednesday to overturn a September 2024 rule from the Office of the Comptroller of the Currency that would end expedited merger reviews. The OCC rule itself is a rollback of a 1996 policy that deems bank deals as approved on the 15th day after the end of a comment period unless the regulator removes the filing from expedited processing.
Senate votes to overturn OCC ban on expedited merger review

1 week ago | finance.yahoo.com | Dan Ennis

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. The Senate voted Wednesday to overturn a September 2024 rule from the Office of the Comptroller of the Currency that would end expedited merger reviews. The OCC rule itself is a rollback of a 1996 policy that deems bank deals as approved on the 15th day after the end of a comment period unless the regulator removes the filing from expedited processing.
Morgan Stanley to see no SEC penalty on cash sweeps

1 week ago | bankingdive.com | Dan Ennis

Morgan Stanley will see no penalty from the Securities and Exchange Commission over the bank’s cash sweep program, the New York City-based lender disclosed Monday in its quarterly report. The SEC told the bank March 11 that it had “concluded” its nearly yearlong investigation of the program “and did not intend to recommend an enforcement action,” according to the Monday filing.
Bowman nod for Fed supervision czar advances to full Senate

1 week ago | bankingdive.com | Dan Ennis

Federal Reserve Gov. Michelle Bowman is one step closer to becoming the central bank’s vice chair for supervision. The Senate Banking Committee advanced Bowman’s nomination Tuesday to the full chamber, by a 13-11 party-line vote. Bowman joins former Federal Deposit Insurance Corp.
Bowman nod for Fed supervision czar advances to full Senate

1 week ago | finance.yahoo.com | Dan Ennis

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Federal Reserve Gov. Michelle Bowman is one step closer to becoming the central bank’s vice chair for supervision. The Senate Banking Committee advanced Bowman’s nomination Tuesday to the full chamber, by a 13-11 party-line vote. Bowman joins former Federal Deposit Insurance Corp.
Warren, Waters urge Fed to reconsider Capital One-Discover

1 week ago | bankingdive.com | Dan Ennis

Sen. Elizabeth Warren, D-MA, and Rep. Maxine Waters, D-CA, urged the Federal Reserve to reconsider its approval of Capital One’s proposed $35.3 billion acquisition of Discover, according to a Thursday letter. The central bank’s assessment insufficiently considered the transaction’s effects on low-income consumers, competition and financial stability in the U.S., and failed to include relevant information from the Justice Department, Federal Deposit Insurance Corp.