Banking Dive

Banking Dive offers thorough reporting and analysis on the latest news and trends in the banking sector. Their newsletter and website delve into various subjects, including commercial banking, retail banking, credit unions, and other related areas. As a prominent publication under Industry Dive, Banking Dive employs skilled business journalists who inspire ideas and influence the priorities of over 7 million decision-makers across competitive industries.

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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

6 days 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.
CFPB shifts focus away from nonbanks, fair lending cases

1 week ago | bankingdive.com | Gabrielle Saulsbery

The Consumer Financial Protection Bureau will shift enforcement and supervisory matters to states and pivot its focus away from non-depository institutions, according to an internal note issued Wednesday by Chief Legal Officer Mark Paoletta. “In 2012, 70% of the Bureau’s supervision focused on banks and depository institutions and 30% on nonbanks,” Paoletta wrote.
Former HSBC exec talks career switch to fintech

1 week ago | bankingdive.com | Gabrielle Saulsbery

As global head of strategy and business management at HSBC, Brian Muse-McKenney was on the hunt for a fintech partner that could help build a social payments app worthy of competing with AliPay and WeChat in the Hong Kong market. He said he knew the bank had a “massive technology disadvantage” against the internet giants. WeChat’s payments function had been around since 2013, and Alipay’s was even older.
Block agrees to pay $40M New York penalty

1 week ago | bankingdive.com | Lynne Marek

Payments technology company Block agreed to pay a $40 million civil monetary fine last Thursday as part of an agreement to resolve claims brought by the New York State Department of Financial Services over lax oversight of its financial services. In particular, the state cited Block’s Cash App peer-to-peer payments tool as not satisfying state requirements for anti-money laundering, Bank Secrecy Act and know-your-customer compliance programs, according to the NYDFS.
The Trump administration is making space for stablecoins. Should CFOs?

1 week ago | bankingdive.com | Grace Noto

President Donald Trump has quickly moved on several fronts to make good on his promise to be a pro-cryptocurrency president: he’s ordered the creation of working groups focused on crypto and the issuance and operation of assets such as stablecoins and is exploring the potential creation of a national stockpile of digital assets. At the same time, he’s also sparked concerns about potential conflict of interest stemming from his family’s own financial interests in the sector.
OCC takes stock of breach as some banks limit info sharing

1 week ago | bankingdive.com | Gabrielle Saulsbery

The Office of the Comptroller of the Currency is “now determining what data has been accessed” in a security breach of its email system reported last week, Acting Comptroller Rodney Hood wrote Monday in a draft letter to bank CEOs. The agency has made improvements to its IT security, Hood said, adding that the OCC is taking stock of “the extent to which highly sensitive information relating to the financial condition of federally regulated financial institutions was compromised.” Meanwhile,...
Klarna partners with Fiserv’s Clover

1 week ago | bankingdive.com | Patrick Cooley

Buy now, pay later company Klarna has signed a deal with Fiserv-owned point-of-sale service provider Clover to offer installment loans at some U.S. merchants. The deal initially includes 100,000 merchant locations, Milwaukee-based Fiserv said in a news release Tuesday on its website, with a larger rollout scheduled for early 2026. The payment options available at those merchants as a part of the deal will include immediate debit payments and interest-free installment loans, the release said.
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.