Commercial: Page 38
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Haugland Bowen, Katie. (2014). "Houston Skyline" [Photograph]. Retrieved from Flickr.
Women-owned de novo to open in Houston after pandemic-related delays
Agility Bank filed paperwork with the FDIC in April 2020, with initial plans to open by the end of that year, but the pandemic altered the bank’s opening timeline, CEO Lauren Sparks said.
By Anna Hrushka • May 18, 2022 -
The image by Ted Eytan is licensed under CC BY-SA 2.0
CFPB carves out new competition angle for oversight
A former CFPB enforcement director told an audience of payments professionals this week that they'd best be prepared for the agency to expand its oversight by way of its markets authority.
By Lynne Marek • May 18, 2022 -
Explore the Trendline➔
da-kuk via Getty Images
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 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo taps former JPMorgan exec to head financial advisory unit
The firm selected Sol Gindi, a former C-suite executive for JPMorgan's wealth management and consumer banking businesses, to replace Jim Hays as the head of Wells Fargo Advisors.
By Robin Bradley • May 17, 2022 -
FG Trade via Getty Images
AmEx, Discover get top marks in direct banks survey
The No. 3 and No. 4 card companies, which also hold bank licenses, scored highly in customer satisfaction among online-only banks, J.D. Power found.
By Caitlin Mullen • May 16, 2022 -
H. Armstrong Roberts via Getty Images
Michigan credit union to buy Florida bank in 7th such deal of 2022
DFCU Financial's acquisition of First Citrus Bank, estimated at $105 million, would mark the second time since June 2021 that a credit union from the Wolverine State has bought a bank based in Tampa.
By Robin Bradley • May 13, 2022 -
Permission granted by U.S. Bank
U.S. Bank lays out $100B community benefits plan tied to merger
U.S. Bank agreed to increase mortgage lending by 20% nationally and by 30% to nonwhite and LMI borrowers in California. The bank also must analyze demographics and consider community input before closing LMI-area branches.
By Robin Bradley • May 10, 2022 -
Courtesy of KeyBank
KeyBank buys student loan forgiveness fintech
Financial terms of the GradFin purchase were not disclosed, but the business dovetails with the bank's previous acquisition and tailoring of Laurel Road.
By Dan Ennis • May 10, 2022 -
Wall Street bonuses could crater up to 40% this year
Investment banking underwriters' bonuses could fall up to 40% from 2021, according to pay consultancy Johnson Associates. Fixed-income traders, however, could see bonuses jump 20%, the company said.
By Robin Bradley • May 6, 2022 -
Drew Angerer via Getty Images
Bank of America, JPMorgan, Goldman consider abortion travel policies
"With all things like this, we look at what our team needs from us," Bank of America CEO Brian Moynihan told CBS. A leaked Supreme Court draft opinion ignited a political firestorm tied to the possible overturn of Roe v. Wade.
By Anna Hrushka • May 6, 2022 -
Deep DivePPP 2 years later: Analyzing the legacy and impact of the $800B government relief program
Lenders and banking industry experts reflect on the lessons learned from the government's small-business rescue program, and what lies ahead for its participants.
By Anna Hrushka • May 4, 2022 -
Permission granted by First Internet Bank
First Century Bank scraps First Internet deal
The Federal Reserve signed off on the combination April 29, but the banks couldn't close the tie-up by an April 30 deadline because of statutory waiting periods, and could not agree on extension terms, First Internet said.
By Dan Ennis • May 2, 2022 -
Permission granted by Frost Bank
Frost Bank: 'Build over buy' expansion plan is paying off
The San Antonio-based bank opened 25 branches in Houston over the past four years, and is in the midst of a similar expansion in Dallas, where next quarter it plans to open its third of 28 new locations.
By Anna Hrushka • April 29, 2022 -
Delmaine Donson via Getty Images
Wisconsin credit union targets Illinois bank in 6th such tie-up of 2022
Financial terms of CoVantage Credit Union's proposed acquisition of LincolnWay Community Bank were not disclosed. The deal is expected to close in the fourth quarter.
By Robin Bradley • April 28, 2022 -
Zhanna Hapanovich via Getty Images
Value, volume of banking M&A sees a Q1 chill
KPMG, in a report, credited the lull to interest-rate uncertainty, war, COVID-19 and "deal fatigue" from a frenetic 2021. But the accounting giant said the pace of activity should pick up later this year.
By Robin Bradley • April 26, 2022 -
TD Bank targets South Florida tech talent pool
The Toronto-based lender on Tuesday announced the launch of a hub in Fort Lauderdale, adding it intends to hire 200 tech workers in the area over the next two years.
By Anna Hrushka • April 26, 2022 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo starts layoffs in home lending unit
The bank did not put a number to the job cuts. Wells Fargo saw a 33% year-over-year decrease in mortgage origination volume. Interest rates accompanying 30-year fixed mortgages have climbed to a 12-year high.
By Dan Ennis • April 25, 2022 -
Permission granted by Office of the Comptroller of the Currency
OCC orders crypto bank Anchorage to revamp AML program
The regulator said the bank failed to implement internal controls for customer due diligence and procedures for monitoring suspicious activity. It also failed to hire a Bank Secrecy Act officer, the OCC said.
By Anna Hrushka • April 22, 2022 -
David McNew via Getty Images
Bank of America wants its cards made of 80% recycled plastic by 2023
The bank estimates it will produce 235 fewer tons of single-use plastics with the transition.
By Robin Bradley • April 21, 2022 -
Patterson, Richard. Retrieved from Flickr.
Banks face 'tight deadline' under new cyber notification rule
The May 1 cutoff to comply with the rule comes as the Biden administration has warned U.S. businesses about the increasing risk of Russian cyberattacks.
By Anna Hrushka • April 21, 2022 -
Permission granted by Truist
Truist posts flat Q1 profit, completes transition to 'one brand'
The bank completed its largest merger-related conversion during the quarter, transitioning nearly 7 million customers to the Truist ecosystem and rebranding more than 6,000 branches and ATMs, CEO Bill Rogers said Tuesday.
By Anna Hrushka • April 19, 2022 -
choness via Getty Images
Interns see 37% pay bump at a number of top banks: data
Interns at Citi, Bank of America, Goldman Sachs, Morgan Stanley and Capital One receive more than $8,000 a month, according to data from Wall Street Oasis and Glassdoor.
By Robin Bradley • April 18, 2022 -
David McNew via Getty Images
Bank of America sees 12% Q1 profit dip
The bank, however, saw a 9.5% surge in equity trading revenue and set aside far less than its competitors — $30 million — to cover potential Russia exposure.
By Dan Ennis • April 18, 2022 -
Permission granted by Citigroup
Citi sets aside $1.9B to counter Russia exposure
The bank said it now risks a $3 billion loss at most over its Russia entanglements. Profit at the third-largest U.S.-based lender dropped by 46% in the first quarter, Citi said Thursday.
By Dan Ennis • April 14, 2022 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo sees 21% Q1 profit drop amid weaker home lending
The home lending results came a day after the bank pledged $210 million in two programs aimed at narrowing a much-publicized mortgage refinancing gap along racial lines.
By Anna Hrushka • April 14, 2022 -
Permission granted by U.S. Bank
U.S. Bank profit dips 31% on buildup for credit losses
At the same time, the bank reported a 2.3% jump in revenue year over year, and 6.5% growth in loans and average total deposits.
By Robin Bradley • April 14, 2022
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