Commercial: Page 10
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Michael M. Santiago / Staff via Getty Images
JPMorgan to launch biometric checkout next year
The bank’s payments unit plans to engage in more pilots this year before rolling out the checkout service broadly next year, said Prashant Sharma, JPMorgan’s executive director of biometrics and identity solutions.
By Caitlin Mullen • March 11, 2024 -
Spencer Platt / Staff via Getty Images
Otting could make $5.75M in first year as NYCB CEO
Alessandro DiNello will receive a base salary of $500,000 per month for his work as NYCB's executive chair, the bank said in a filing. He'll return to a nonexecutive role April 1.
By Dan Ennis • March 11, 2024 -
Explore the Trendline➔
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TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
Kate Tornone/Banking Dive
Regional bank execs push back on CRE risk fears
The banking sector relearns every 15 years not to overly concentrate its balance sheet in one area, Fifth Third CEO Tim Spence said. Meanwhile, Citizens Bank expects its CRE loan losses to peak at the end of this year.
By Suman Bhattacharyya • March 11, 2024 -
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Huntington dives deeper into Texas
Local banking industry veteran Clint Bryant will lead Huntington’s Texas commercial charge, starting with Dallas.
By Gabrielle Saulsbery • March 8, 2024 -
Courtesy of U.S. Bank
OCC clears U.S. Bank from MUFG Union consent order
The enforcement action, for failing to meet federal IT security guidelines, was issued just one day before U.S. Bank announced its $8 billion acquisition of MUFG Union.
By Rajashree Chakravarty • March 8, 2024 -
Justin Sullivan via Getty Images
Deep DiveA year after SVB, what’s improved and what needs work?
Banking Dive looks at six factors — from upcoming regulations to commercial real estate — to see how the landscape has changed between the crises of 2023 and 2024.
By Dan Ennis • March 8, 2024 -
Spencer Platt / Staff via Getty Images
NYCB names ex-OCC chief Otting as CEO
Former Treasury Secretary Steven Mnuchin will take a seat on the bank's board after his Liberty Strategic Capital and other investors infused NYCB with $1.05 billion.
By Dan Ennis • March 7, 2024 -
Mario Tama via Getty Images
Citi hires BofA vet Plaus to lead North America private bank
Don Plaus had announced his retirement from BofA's Merrill Lynch a year ago but had to delay his plans when Andy Sieg announced he was leaving. Plaus' hire reunites the two at Citi.
By Rajashree Chakravarty • March 7, 2024 -
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Powell predicts CRE woes will hit smaller banks hardest
The Federal Reserve, bankers and commercial real estate executives have warned of turbulence as property owners struggle to refinance debt at higher rates.
By Jim Tyson • March 7, 2024 -
Permission granted by Synctera
Q&AHow banks, fintechs can navigate regulatory challenges in BaaS space
Banks have a responsibility to treat their customers fairly because they deal with people’s money, said the CEO of Synctera, a partner of Lineage Bank, which was recently hit with an FDIC consent order over BaaS.
By Rajashree Chakravarty • March 6, 2024 -
Courtesy of U.S. Bank
U.S. Bank mandates 3 days a week in the office
This marks a shift in policy from optional, a year and a half after CEO Andy Cecere told employees their presence was preferred.
By Gabrielle Saulsbery • March 6, 2024 -
Permission granted by TD Bank
ColumnDive Deposits: TD gives its AML woes long-haul messaging
The bank's First Horizon stumble is as woven into its fabric as the Revlon error is for Citi, or the fake-accounts scandal is for Wells Fargo, if one looks at TD's responses to analysts.
By Dan Ennis • March 6, 2024 -
Truist taps Citi muni veterans to strengthen its team
The move comes as Citi prepares to leave the municipal bond market by the end of this month to focus its attention on increasing profit amid its company-wide reorganization.
By Rajashree Chakravarty • March 4, 2024 -
Pablo Blazquez Dominguez via Getty Images
Santander cuts roughly 320 US jobs: reports
Many of the layoffs are centered on the bank’s retail operations, ahead of the expected launch of a fully digital platform in the U.S. this summer.
By Dan Ennis • March 4, 2024 -
Mark Wilson via Getty Images
West Virginia warns Citi, TD, others over fossil-fuel stances
BMO, HSBC, Fifth Third and Northern Trust also received notices that the state would add them to a restricted financial institution list over alleged "boycotts."
By Lamar Johnson • March 1, 2024 -
Mark Makela via Getty Images
Investors back out of $35M deal with Republic First
The bank failed to meet the terms of their agreement by the deadline, Norcross-Braca Group said. The bank said it remains adequately capitalized.
By Gabrielle Saulsbery • March 1, 2024 -
Spencer Platt / Staff via Getty Images
NYCB names DiNello as CEO, takes $2.4B impairment charge
The bank appointed a chief risk officer and chief audit executive Friday, hours after SEC filings revealed material weakness in the review, oversight, risk assessment and monitoring of NYCB's lending.
By Dan Ennis • March 1, 2024 -
Mario Tama via Getty Images
Citi laying off 286 New York-based employees
The staff cuts, set to take effect before May 3, encompass 239 employees in Citi’s primary banking unit, 44 in its global markets broker-dealer and three in a technology unit, according to WARN notices filed with the state.
By Dan Ennis • Feb. 29, 2024 -
Courtesy of State Street
State Street to invest $100M in MDIs, CDFIs
South Carolina-based Optus Bank and North Carolina-based Mechanics & Farmers Bank, two of the oldest Black-owned banks in the nation, are State Street’s first deposit partners for the program.
By Gabrielle Saulsbery • Feb. 29, 2024 -
Justin Sullivan via Getty Images
Wells Fargo CFO calls commercial real estate a ‘long movie’
“We’re not at the beginning, but ... we still have a long way to go to really see the ultimate resolution of a lot of this,” Mike Santomassimo said in reply to a question from a UBS analyst at a conference.
By Maura Webber Sadovi • Feb. 28, 2024 -
Scott Olson via Getty Images
Fed denies TNB master account after 6 years
Giving the bank a master account would “pose undue risk to the stability of the U.S. financial system and would adversely affect the Federal Reserve’s ability to implement monetary policy,” the Fed said. TNB CEO James McAndrews disagrees.
By Gabrielle Saulsbery • Feb. 27, 2024 -
Justin Sullivan / Staff via Getty Images
Wells Fargo names JPMorgan veteran as vice chair
Doug Braunstein, who led JPMorgan’s global M&A business among other roles in a two-decade stint, will focus on expanding Wells' corporate finance and advisory operations, the bank said.
By Rajashree Chakravarty • Feb. 27, 2024 -
milehightraveler/iStock/Getty Images Plus via Getty Images
HTLF CEO to retire at year-end
Bruce K. Lee will stay on in his role until the Denver-based bank finds a successor and will help with the transition. The bank this month announced it would sell off its retail presence in Montana.
By Dan Ennis • Feb. 26, 2024 -
Mario Tama via Getty Images
Citi taps JPMorgan veteran to lead banking unit
Hiring Vis Raghavan, formerly CEO of JPMorgan’s Europe, Middle East and Africa business, gives Citi a permanent figurehead in a unit led temporarily by the retiring Peter Babej.
By Rajashree Chakravarty • Feb. 26, 2024 -
Spencer Platt via Getty Images
JPMorgan names Petno, Gori to oversee global banking
Doug Petno had led JPMorgan’s commercial bank since 2012. The move combines commercial, corporate and investment banking under Petno and Filippo Gori, now the bank’s CEO of Europe, the Middle East and Africa.
By Gabrielle Saulsbery • Feb. 26, 2024
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