Commercial


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    SouthState to acquire Independent Bank in $2B deal

    The transaction, expected to close in the first quarter of 2025, is set to expand SouthState’s footprint in Texas and Colorado.

    By May 21, 2024
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    Spencer Platt / Staff via Getty Images
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    Citi ATM fee waivers discriminate by race, lawsuit says

    The plaintiffs allege Citi unlawfully granted fee waivers to people using out-of-network ATMs only if their accounts were held at nonwhite-owned banks, according to the suit filed Friday.

    By May 20, 2024
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    da-kuk via Getty Images
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    Trendline

    Artificial intelligence

    A Federal Reserve official warned about the AI “arms race” banks face against cyber threats. But what about their race against each other?

    By Banking Dive staff
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    Justin Sullivan via Getty Images
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    Citi ex-treasurer Verdeschi in line for Schwab’s CFO role

    The move marks a landing spot for one of a number of longtime Citi veterans who've stepped aside during the bank's reorganization.

    By May 17, 2024
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    Kruck20 via Getty Images
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    Arizona credit union to acquire bank

    Pima's acquisition of Republic Bank of Arizona, expected to close in the second half of the year, would give the Tucson-based credit union a foothold in the Phoenix area.

    By May 17, 2024
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    Spencer Platt / Staff via Getty Images
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    NYCB’s COO resigns

    Julie-Ann Signorille-Browne led the bank’s integration with Flagstar and, later, the integration of assets and liabilities NYCB bought from the failed Signature Bank.

    By May 17, 2024
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    Zhanna Hapanovich
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    Alerus Financial to buy Minnesota bank in $116M deal

    The combined company will have roughly $5.5 billion in assets after the transaction, which is expected to close in the fourth quarter.

    By May 16, 2024
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    Joe Raedle / Staff via Getty Images
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    Fed, OCC to hold meeting July 19 on Capital One-Discover deal

    At $35.3 billion, the acquisition is well above the size that typically sees a public hearing by regulators. Agencies are eyeing tougher merger scrutiny, but that idea has received partisan backlash.

    By Lynne Marek • May 15, 2024
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    Spencer Platt / Staff via Getty Images
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    NYCB to sell $5B in mortgage loans to JPMorgan Chase

    The transaction is set to finalize in the third quarter. NYCB has pledged to cut its commercial real estate exposure to about $30 billion as it revamps its balance sheet.

    By May 15, 2024
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    Anna Moneymaker via Getty Images
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    CFG Bank launches accounts to boost Key Bridge relief efforts

    A money market account through the bank is donating 0.05% of accrued interest to a nonprofit fund offering financial support for families affected by the bridge collapse.

    By May 14, 2024
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    Spencer Platt via Getty Images
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    JPMorgan objects to proxy adviser’s push for CEO, chair split

    The bank said ISS’s recommendation “fails to match the empirical evidence of the last 18 years of leadership” by Jamie Dimon, who occupies both roles at JPMorgan.

    By May 14, 2024
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    Dive Deposits: May just might be succession strategy month

    Banco Popular became the second bank in a week to name a president — a steppingstone to CEO if not a long-term plan. Look back, and JPMorgan and Morgan Stanley each launched multiyear races in May.

    By May 14, 2024
  • RBC restructures its investment-banking unit

    Putting a U.S.-based executive in charge of global investment banking may reflect how crucial the Canadian bank's "second home" is to its growth strategy. 

    By May 13, 2024
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    Chris Hondros via Getty Images
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    JPMorgan lures $28B adviser team from Merrill Lynch

    The Gray-Polverini team that joined JPMorgan’s wealth management unit in Los Angeles generated nearly $10 million in annual revenue.

    By May 13, 2024
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    Justin Sullivan / Staff via Getty Images
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    Pot banking bill advocates push for action this year

    Proponents hope the SAFER Banking bill can be attached to a larger legislative vehicle, as stand-alone passage in the Senate seems increasingly unlikely.

    By May 13, 2024
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    Carlos Alvarez via Getty Images
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    Column

    Dive Deposits: Are we in a parallel 2020? Ask a Spanish bank

    FDIC culture woes. The rise of women execs. Regulators' rush to issue final rules before an election. 2020 had all of that, too — along with a failed BBVA bid for Sabadell. But in 2024, it turned hostile.

    By May 9, 2024
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    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.

    By May 8, 2024
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    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.

    By May 8, 2024
  • A Wells Fargo flag flies in front of a Wells Fargo bank branch.
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    Justin Sullivan via Getty Images
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    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.

    By May 8, 2024
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    Pgiam via Getty Images
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    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.

    By May 6, 2024
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    Oli Scarff via Getty Images
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    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.

    By May 6, 2024
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    Courtesy of U.S. Bank
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    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.

    By May 6, 2024
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    Justin Sullivan / Staff via Getty Images
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    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.

    By May 3, 2024
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    Mario Tama via Getty Images
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    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.

    By May 3, 2024
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    Chris Hondros via Getty Images
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    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.

    By May 2, 2024
  • People walk in front of a JPMorgan Chase & Co. sign at its headquarters in New York City.
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    Spencer Platt via Getty Images
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    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.

    By May 2, 2024