Dan Ennis

Arlington

Senior Editor at Banking Dive

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

Articles

Capital One-Discover deal gets nod from Fed, OCC

6 days ago | bankingdive.com | Dan Ennis

The Federal Reserve and the Office of the Comptroller of the Currency each approved Capital One’s acquisition of Discover, according to announcements Friday. The Fed, for its part, fined Discover $100 million after it determined the company overcharged certain interchange fees between 2007 and 2023. The regulator also entered into a consent order with Discover on the matter, in coordination with the Federal Deposit Insurance Corp.
CFPB to lay off 1,500 employees

1 week ago | bankingdive.com | Dan Ennis

The Consumer Financial Protection Bureau sent reduction-in-force notices Thursday to roughly 1,500 of its employees, according to a motion filed in federal court. Affected employees will lose access to CFPB systems, including email, at 6 p.m. Friday, according to the motion. Those employees will be placed on administrative leave, and their terminations will take effect in mid-June.
Trump fires NCUA board’s 2 Democrats

1 week ago | bankingdive.com | Dan Ennis

President Donald Trump has fired Todd Harper and Tanya Otsuka, the National Credit Union Administration’s two Democratic board members, the ousted regulators confirmed Wednesday. The move arguably neutralizes the NCUA board, which has just one remaining member, Republican Chair Kyle Hauptman. The NCUA can still perform its supervisory and enforcement duties, America’s Credit Union, a credit union-focused trade group, said in a post Thursday.
Oregon credit union to buy in-state bank

1 week ago | bankingdive.com | Dan Ennis

Salem, Oregon-based Maps Credit Union will acquire Oregon City-based Lewis & Clark Bank, the institutions said in separate statements Monday. The transaction, set to close in the first quarter of 2026, is expected to create a $1.7 billion-asset institution with 13 branches, Lewis & Clark Bank CEO Jeffrey Sumpter said in a statement. Maps does not anticipate any branch closures and said it would retain all Lewis & Clark employees, according to the bank.
CFPB’s Vought wants to strip away ‘guidance’ en masse

1 week ago | bankingdive.com | Dan Ennis

Consumer Financial Protection Bureau Acting Director Russ Vought wants to take “guidance” down a peg. In a memo Friday, Vought ordered the heads of eight offices within the bureau, including enforcement and supervision, to review by April 25 any guidance documents the agency has issued, with the aim of rooting out instances when guidance was used as a substitute for the more formal regulation process.
Appeals court allows some CFPB firings

1 week ago | bankingdive.com | Dan Ennis

A federal appeals court Friday rolled back parts of a judge’s injunction preventing mass firings at the Consumer Financial Protection Bureau.
TD acknowledges ‘darkest day’ in shareholder meeting

1 week ago | bankingdive.com | Dan Ennis

When U.S. agencies in October laid out TD’s anti-money laundering failures and announced a $3.09 billion settlement with the bank, it marked the “darkest day” for the Canadian lender, TD board Chair Alan MacGibbon said Thursday. “The settlements were extraordinarily painful,” MacGibbon said, according to The Globe and Mail. “The Oct.
House votes to overturn CFPB overdraft rule

2 weeks ago | bankingdive.com | Dan Ennis

The House voted Wednesday, 217-211, to overturn through the Congressional Review Act a Consumer Financial Protection Bureau final rule that would cap overdraft fees at $5. The move comes less than two weeks after the Senate passed a similar resolution, meaning the measure now goes to President Donald Trump’s desk.
‘Fallen off a cliff’: 3 ways Travis Hill wants to boost de novos

2 weeks ago | bankingdive.com | Dan Ennis

New bank formation has “fallen off a cliff,” Federal Deposit Insurance Corp. Acting Chair Travis Hill said Tuesday in a speech to the American Bankers Association’s Washington Summit. The number of active bank charters today – around 4,500 – is just more than half the roughly 8,500 from 2008, Hill said. However, that figure says less about merger activity than it does about the launching of new banks. In 1984, 412 new banks formed, Hill said.
Fifth Third hires ex-M&T CFO to lead regional banking

2 weeks ago | bankingdive.com | Dan Ennis

Longtime M&T Bank executive Darren King has joined Fifth Third as head of regional banking, the Cincinnati-based lender announced Monday. King succeeds Kris Garrett, who is retiring. Garrett, who has served as Fifth Third’s wealth and asset management chief, as well as its regional president, will stay on until June to ensure a smooth transition, the bank said. King left M&T last August “for personal reasons,” the Buffalo, New York-based lender said at the time.