Feb 26, 2025 · “In light of the current environment, we have decided to discontinue the diverse slate guidelines,” Wells Fargo said Wednesday in a memo seen by Bloomberg.. “We remain focused on maintaining a workplace where we hire the best and most qualified people and one where everyone has equal access to opportunities to grow.”

Banking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the banking industry.

Jan 31, 2025 · On the Friday before Trump took office, the Federal Reserve announced it had left the Network for Greening the Financial System. The Federal Deposit Insurance Corp. announced it had followed suit minutes before the agency’s acting chair, Travis Hill, laid out his priorities. Less than two weeks before leading the agency, Hill flagged de-emphasizing ESG as an agenda item.

Feb 25, 2025 · About a month after President Donald Trump accused Bank of America and other big banks of political de-banking, BofA CEO Brian Moynihan offered more of a response Tuesday, blaming regulation.. Interviewing Moynihan during an event at The Economic Club in Washington, D.C., David Rubenstein, the nonprofit’s chairman who’s also co-founder and co-chair of the Carlyle Group, wasted no time ...

Aug 21, 2024 · Dive Brief: U.S. Bank and Edward Jones have teamed up to provide the latter’s clients with access to the bank’s products, beginning in late 2025, the bank said Wednesday. Through the partnership, Edward Jones’ 19,000 advisers will be able to offer their U.S. clients co-branded U.S. Bank checking and credit card products.

Apr 16, 2025 · Fed’s Bowman: Let’s rethink negative comment review for bank applications Commonwealth Business Bank applied to open a branch in New Jersey last September, but one adverse comment routed the application to the central bank’s board for review and vote, the potential supervision czar said.

Nov 27, 2024 · It’s not the first time Evolve has been sued related to Synapse ledger issues. Yotta sued Evolve in September, claiming that the lender “utterly” failed in its most basic duty to its customers by misplacing tens of millions of dollars in customer funds.. Most end-user funds were held in omnibus for-benefit-of accounts; the rest was …

May 1, 2023 · Dive Brief: Fintech-friendly Cross River Bank engaged in “unsafe and unsound” practices related to fair lending laws and regulations, the Federal Deposit Insurance Corp. alleged in a consent order made public last week.; The Fort Lee, New Jersey-based lender failed to “establish and maintain internal controls, information systems, and prudent credit underwriting practices” in 2021, the ...

Sep 8, 2021 · Bank of America has unveiled a new service, called Balance Connect, that allows customers to avoid overdraft fees.This move signifies a larger trend within the banking industry of reducing these fees, as recent upticks in regulatory scrutiny and burgeoning competitive pressures have led some financial institutions to lessen their …

Sep 26, 2024 · Dive Brief: Bank of America is rolling out a family banking product in three states before launching it nationwide in December, the lender said Thursday.; The account, designed for parents with children younger than 16, offers a debit card and digital banking access for children and enables parents to supervise their child’s spending.