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  • TD Bank at One Vanderbilt
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    TD faces investor angst over AML probe, CEO succession

    CEO Bharat Masrani said the bank has made strategic hires to improve its AML compliance and reassured investors of TD's "robust" bench of leaders.

    By April 19, 2024
  • JPMorgan, Russia’s VTB Bank sue each other

    VTB sued JPMorgan in Russia to regain access to assets frozen due to sanctions violations. JPMorgan countersued, saying VTB breached a 2008 agreement to handle any issues in New York.

    By April 19, 2024
  • The Manhattan skyline in New York City. Explore the Trendline
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    Courtesy of The Howard Hughes Corp.
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    Trendline

    Top 5 stories from Banking Dive

    Banks brace to see if commercial real estate exposure will trigger a rerun of last year’s crisis. And regulators face a mountain of comments from the most contentious proposed rule in decades.

    By Banking Dive staff
  • People enter and exit UBS Bank in NYC.
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    Chris Hondros via Getty Images
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    UBS plans fresh cuts amid Credit Suisse integration: report

    The Swiss banking giant plans to trim headcount in banking, markets and wealth management, Bloomberg reported. The lender has said it aims to save around $6 billion in staff costs in the coming years.

    By April 18, 2024
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    Davis Turner/Stringer via Getty Images
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    Senators probe Bank of America on Apollo co-founder’s payments to Epstein

    The Senate Finance Committee’s chairman asked the bank about the extent of due diligence it conducted before processing $158 million in fees Leon Black paid to Jeffrey Epstein using his BofA accounts, The New York Times reported.

    By April 16, 2024
  • Wells Fargo CEO Charlie Scharf
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    Drew Angerer / Staff via Getty Images
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    Wells Fargo CEO Scharf details asset cap limitations

    When the cap is removed, the CEO anticipates Wells can further invest in its consumer or wealth businesses, build out its product offerings and be more aggressive on lending and deposits.

    By April 16, 2024
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    Alex Wroblewski via Getty Images
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    JPMorgan’s Dimon follows through on million-share sale

    The CEO offloaded 178,222 shares of the bank, JPMorgan disclosed Monday, after selling 821,778 in February. The move underscores the ticking timeline toward Dimon's eventual handoff of power.

    By April 16, 2024
  • The concept of the word M&A on cubes on a beautiful green background. Business concept
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    Zhanna Hapanovich
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    Wintrust to buy Michigan’s Macatawa Bank in $510M deal

    The transaction, set to close in the second half of this year, would push the Illinois bank holding company's branch total to near 200 and its assets to the brink of $60 billion. 

    By April 16, 2024
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    Customers Bancorp boots CFO for ‘cause’

    Carla Leibold was terminated Wednesday over a violation of company policy, a characterization she reportedly disputes. Philip Watkins was promoted to take her place, the company said.

    By April 15, 2024
  • Bank of America's logo on a building façade
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    Mario Tama / Staff via Getty Images
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    Q&A

    BofA evolves AI-powered assistant toward deeper digital integration

    Six years into the Erica era, customers are taking advantage of the tool's insights as often as they're asking questions of it, said Nikki Katz, the bank's head of digital.

    By April 15, 2024
  • A person walks into BNY Mellon's headquarters in New York City.
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    Mario Tama / Staff via Getty Images
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    BNY Mellon hires Geico alum as its next people chief

    Shannon Hobbs takes the reins from Alejandro Perez, who has served as interim chief people officer since Jolen Anderson moved on from the role in February.

    By April 15, 2024
  • Manhattan skyline
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    Sean Pavone via Getty Images
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    NYCB hires new CFO, general counsel

    The beleaguered Long Island-based lender brought aboard four executives Friday whose careers had crossed paths with that of newly minted CEO Joseph Otting.

    By April 15, 2024
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    Getty Images/Staff via Getty Images
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    Provident, Lakeland deal gets final regulatory approval

    Upon completion, the new Provident will be the 83rd largest insured depository firm in the U.S.; and the 7th largest in New Jersey, where it will represent approximately 4.1% of total deposits in the state.

    By April 12, 2024
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    Mario Tama via Getty Images
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    Morgan Stanley AML probe draws SEC, OCC, Treasury focus: report

    The regulators join the Federal Reserve in investigating how the bank verifies identities of wealth clients, The Wall Street Journal reported.

    By April 12, 2024
  • The Wall Street sign in the Financial District of Lower Manhattan in New York City.
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    hapabapa via Getty Images
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    Citi’s reorg job toll climbs to 7,000: Fraser

    The bank boosted its expectation for annual savings to $1.5 billion. Meanwhile, Citi, Wells Fargo and JPMorgan Chase reported marked increases in FDIC special assessment costs.

    By April 12, 2024
  • People enter and exit UBS Bank in NYC.
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    Chris Hondros via Getty Images
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    UBS could face stricter capital requirements

    The Swiss government outlined a 209-page report Wednesday proposing stricter capital requirements for UBS, which has a balance sheet of $1.7 trillion and floated the idea of additional powers for Finma.

    By April 11, 2024
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    utah778 via Getty Images
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    Funding Circle gets final nod for SBA 7(a) loans amid pushback

    The London-based company received final approval to proceed with the 7(a) lending program around four months after the SBA announced it would grant three new licenses.

    By April 10, 2024
  • KeyBank branch
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    Courtesy of KeyBank
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    KeyBank scouts for fintech partners

    The bank, which has yet to strike a fintech partnership this year, generally enters into one to two each year, said Ken Gavrity, president of Key Commercial Bank.

    By April 10, 2024
  • Manhattan skyline
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    Sean Pavone via Getty Images
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    Peapack-Gladstone, Dime hire away 16 teams from NYCB

    The bankers are set to accelerate Peapack's push into New York and give Dime a presence in Westchester County for the first time.

    By April 10, 2024
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    Spencer Platt / Staff via Getty Images
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    Citi snags BlackRock vet as CMO

    Some big banks, such as Bank of America and Wells Fargo, have retired the chief marketing role in recent years. Others, like Truist, have combined it with other functions.

    By April 10, 2024
  • FirstEnergy's 1,100-MW coal-fired Fort Martin power plant in Maidsville, West Virginia, along the Monongahela River.
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    BackyardProduction via Getty Images
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    Citi, TD, HSBC, Northern Trust added to West Virginia restricted list

    The state warned the banks in February of consequences if they "boycott" fossil fuels. BMO and Fifth Third avoided being added to the list, the state said.

    By April 9, 2024
  • JPMorgan Chase CEO Jamie Dimon
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    Win McNamee / Staff via Getty Images
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    Dimon blasts regulation, proxy advisers in annual letter

    The JPMorgan Chase CEO also gave prominent space to AI, touting its potential impact in software engineering, customer service and operations, “as well as in general employee productivity."

    By April 8, 2024
  • Dan Rollins, Chairman and Chief Executive Officer and Paul Murphy, Executive Vice Chairman
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    Permission granted by BancorpSouth
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    Cadence consolidates its executive circle

    The bank's president is adding chief credit officer to his title, and the CFO will also oversee mortgage lending and wealth in a move to eliminate layers of management.

    By April 5, 2024
  • KeyBank branch
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    Courtesy of KeyBank
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    KeyBank, NCRC team up on $25M pledge

    The NCRC and the bank will put $8.5 million each toward grants, down payment assistance, fee waivers, product and branch expansion, and marketing that addresses alleged mortgage lending issues.

    By April 4, 2024
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    Justin Sullivan via Getty Images
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    Return-to-office delays burden regional bank real estate portfolios

    “There's been a Frankenstein from the pandemic that's been created, and we don't know how to stop it,” Gregory Carlisle, a commercial market president at TD, said last week.

    By April 3, 2024
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    Judge sides with Fed in Custodia master account ruling

    Judge Scott Skavdahl said the Wyoming-based digital-asset bank failed to prove that the Fed’s board of governors had undue influence on the Kansas City Fed in its application denial.

    By April 2, 2024