link.bankingdive.comBanking News and Analysis | Banking Dive

CONTINUE TO SITE ➞ Don’t miss tomorrow’s banking industry news Let Banking Dive’s free newsletter keep you informed, straight from your inbox. Daily Dive M-F Topics include: Commercial banking, payments, credit unions, technology, risk, regulations, policy Fintech Weekly Every Wednesday Topics covered: Bank/fintech relationship, banks buying fintechs, regulations, rise of neobanks By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy . You can unsubscribe at anytime. Deep Dive Opinion Library Events Press Releases Topics Sign up Search Sign up Search Commercial Retail Credit Unions Payments Regulations & Policy Technology Risk Fintech Chip Somodevilla via Getty Images Climate risks ‘highly uncertain,’ ‘challenging,’ banks tell Fed In the climate scenario exercise, the nation’s six biggest banks found data gaps in real estate exposure, insurance, debtors’ transition risk management and infrastructure. Read more ➔ Top stories LinkBank sells 3 NJ branches to credit union TabaPay calls off deal with Synapse FDIC’s Gruenberg faces amplified calls to quit Upstart subpoenaed by SEC over AI, loans Column Dive Deposits: Are we in a parallel 2020? Ask a Spanish bank The Latest Leon Neal / Staff via Getty Images FTX to repay customers more than they lost The collapsed cryptocurrency exchange, which owes creditors about $11.2 billion, has between $14.5 billion and $16.3 billion available to distribute to them. Technology Drew Angerer / Staff via Getty Images TD begins damage control after fentanyl report In the "sobering" aftermath of the bank’s AML crisis, executives are detailing an improvement plan and reassuring employees, but analysts are calling for change in the face of a "lost decade." Regulations & Policy Win McNamee via Getty Images 8 findings from the FDIC sexual harassment audit The law firm Cleary Gottlieb identified 10 root causes of the FDIC’s culture issue. Chair Martin Gruenberg’s anger isn’t listed as one. And harassment at the agency wasn’t always sexual, the review found. Regulations & Policy Permission granted by Fifth Third Fifth Third launches ‘reimagined’ eBus with SpringFour The eBus will travel to underserved communities across the bank’s footprint and give consumers access to around 24,000 nonprofit resources through its collaboration with the social impact fintech. Commercial Justin Sullivan via Getty Images Wells Fargo hires JPMorgan vet Rivas to boost investment bank Fernando Rivas, who was among the lead negotiators in JPMorgan’s First Republic acquisition, had been set to retire when he left JPMorgan in February. Commercial Permission granted by Aspiration Aspiration spins off consumer financial brand The standalone company, helmed by Tim Newell, will continue to operate under the Aspiration brand name and focus on offering climate-friendly products. Commercial Chip Somodevilla via Getty Images Regulators propose executive bonus rule [P]oorly designed financial institution compensation programs can provide incentives for short-term risk taking that can jeopardize the safety and soundness of the institution,” FDIC Chair Martin Gruenberg said. Regulations & Policy Sukanya Sonlila via Getty Images Third-party risk guide ‘a welcome sign,’ analysts say The guide from the Fed, OCC and FDIC aims to help bankers get in the same mindset as the examination team” when assessing and managing third-party relationship risks, said the ICBA’s Michael Emancipator. Regulations & Policy Chip Somodevilla via Getty Images Chime dinged by CFPB for delayed customer refunds When Chime discovered the issue, we worked with our vendor to resolve the error and issued refunds to impacted consumers,” a Chime spokesman said, adding that most issues occurred in 2020 and 2021. Retail Spencer Platt / Staff via Getty Images Robinhood may face SEC lawsuit over crypto unit In a blog post, the company cited its "good-faith attempts" with the agency. At least one analyst said Robinhood has no incentive to sue because the SEC chair’s term is up in two years. Regulations & Policy Lynne Marek/Banking Dive Fed, TCH joust over interoperability When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities. Payments Courtesy of U.S. Bank U.S. Bank promotes Kedia to president Elevating the bank’s vice chair of wealth, corporate, commercial and institutional banking likely positions Gunjan Kedia as the successor to CEO Andy Cecere, a Piper Sandler analyst said. Commercial Pgiam via Getty Images FirstSun, HomeStreet seek charter change for merger FirstSun opted for a Texas state charter to skirt oversight by the OCC. Executives said that agency is slowing the banks’ tie-up over concerns with HomeStreet’s CRE exposure. Commercial Oli Scarff via Getty Images Oklahoma adds Barclays to anti-ESG list The British bank joins JPMorgan Chase, BlackRock, Bank of America, Wells Fargo and State Street and eight other financial institutions on the list. Commercial SHansche via Getty Images 2 Stifel employees leave after inappropriate relationship with cleaner The investment bank did not identify the employees. One resigned immediately after Stifel found misconduct, while the other is "in a legal process" with the bank, The Times of London reported. Regulations & Policy Drew Angerer / Staff via Getty Images TD faces DOJ probe over fentanyl-tied money laundering: report Criminals allegedly laundered millions of dollars of fentanyl proceeds through TD branches in New York and New Jersey, according to The Wall Street Journal. Retail Justin Sullivan / Staff via Getty Images Wells Fargo says US authorities probing Zelle disputes JPMorgan also said it was responding to civil and government authorities’ inquiries regarding handling Zelle customer disputes. The banks did not divulge further details. Commercial Justin Sullivan via Getty Images SVB to sell venture-capital arm to investment firm Pinegrove SVB Capital will be acquired for a combination of cash and other economic consideration,” the companies said, without giving details on the deal’s value. Regulations & Policy Mario Tama via Getty Images Column Dive Deposits: Citi’s climate portrait shows a big contrast This week, Citi disclosed it is on pace to reach its 2030 sustainable finance goals, but Reuters also found a draft indicating the losses the bank would incur if the world goes net zero. Commercial Chip Somodevilla / Staff via Getty Images Republicans seek ‘shot clock’ on regulators’ bank merger reviews A bill introduced by Rep. Andy Barr, R-KY, seeks to curtail the amount of time banks wait for a regulatory response on merger applications. Regulations & Policy Mario Tama via Getty Images Citi banker, accused of berating and intimidating employees, leaves: report Edward Ruff was placed on leave in January as the bank investigated allegations he intimidated one co-worker and shouted insults at members of his team because they were late to a call. Commercial Spencer Platt via Getty Images JPMorgan expects to pay $100M more in trading penalties The penalty, which the lender said it will pay to a third, unnamed U.S. regulator, adds to the $348.2 million JPMorgan agreed to pay the OCC and the Fed in March. Commercial Getty Images via Getty Images Officials push Fed to finalize capital-requirements rule by August: report The central bank has made no decisions on timing, process or substance” of the proposal, it said in a statement seen Wednesday by Bloomberg. Regulations & Policy Chris Hondros via Getty Images Russian court cancels seizure of some JPMorgan funds The court had ordered seizure of $439.5 million late last month in an ongoing sanctions dispute between JPMorgan and Russia-owned VTB Bank. Commercial Spencer Platt / Staff via Getty Images NYCB posts $335M loss, but shares jump on turnaround plan CEO Joseph Otting said the lender has identified an opportunity” to sell $5 billion in assets but declined to share...