Commercial: Page 5
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Spencer Platt / Staff via Getty Images
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 Dan Ennis • April 15, 2024 -
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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 Gabrielle Saulsbery • April 12, 2024 -
Explore the Trendline➔
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TrendlineCustomer service
Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.
By Banking Dive staff -
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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 Rajashree Chakravarty • April 12, 2024 -
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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 Caitlin Mullen • April 12, 2024 -
Chris Hondros via Getty Images
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 Rajashree Chakravarty • April 11, 2024 -
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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 Rajashree Chakravarty • April 10, 2024 -
Courtesy of KeyBank
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 Caitlin Mullen • April 10, 2024 -
Sean Pavone via Getty Images
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 Dan Ennis • April 10, 2024 -
Spencer Platt / Staff via Getty Images
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 Caitlin Mullen • April 10, 2024 -
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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 Caitlin Mullen • April 9, 2024 -
Win McNamee / Staff via Getty Images
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 Caitlin Mullen • April 8, 2024 -
Permission granted by BancorpSouth
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 Dan Ennis • April 5, 2024 -
Courtesy of KeyBank
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 Rajashree Chakravarty • April 4, 2024 -
Justin Sullivan via Getty Images
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 Suman Bhattacharyya • 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 Gabrielle Saulsbery • April 2, 2024 -
Kate Tornone/Banking Dive
Citizens CEO knocks higher capital requirements
“The rest of the economy is saying this has to be rethought,” CEO Bruce Van Saun said, adding the increase could scuttle lending to entrepreneurs and less affluent borrowers.
By Suman Bhattacharyya • March 29, 2024 -
Getty Images/Staff via Getty Images
Integrated Financial finds another buyer in $66M deal
Capital Bancorp agreed to buy IFH to expand its consumer and lending business. IFH’s prior deal with MVB Financial fell through in May due to delays and changing market conditions.
By Rajashree Chakravarty • March 29, 2024 -
Justin Sullivan / Staff via Getty Images
Bank of America rolls out platform linking small businesses, CDFIs
The online platform, a partnership with the Community Reinvestment Fund, USA, provides access to around 150 local community development financial institutions and other business support organizations.
By Rajashree Chakravarty • March 28, 2024 -
Pablo Blazquez Dominguez via Getty Images
Santander hires ex-Marcus chief to lead US digital transformation
Swati Bhatia becomes the second Goldman consumer-banking vet to find a landing spot in just over a week.
By Dan Ennis • March 28, 2024 -
Daniel Berehulak via Getty Images
UBS sells $8B in assets to Apollo, renegotiating Credit Suisse deal
The bank will recognize a gain of about $300 million this quarter by spinning off a securitized products business and ending an investment management arrangement Credit Suisse struck in 2022.
By Dan Ennis • March 27, 2024 -
Lari Bat
Ex-OCC chief, Binance.US CEO to lead mortgage broker Meridian
Brian Brooks, who has held four other jobs since his 2020-21 OCC stint, said he would focus on building up Meridian's compliance arm, a process that could take 12 to 18 months.
By Gabrielle Saulsbery • March 27, 2024 -
Drew Angerer via Getty Images
Citi wraps up reorg’s ‘major actions’
The bank is informing employees this week of its largest round of reassignments and departures so far — changes CEO Jane Fraser said aim to put Citi "on the front foot."
By Dan Ennis • March 27, 2024 -
Justin Sullivan / Staff via Getty Images
Wells Fargo overcharged military members, lawsuit claims
Military families discovered the overcharges in 2022, when the bank sent misleading correspondence and payments to some customers, the proposed class action alleges.
By Rajashree Chakravarty • March 26, 2024 -
Getty Images/Staff via Getty Images
A New Jersey ‘super-community bank’ is just one approval away
The proposed combination of Provident and Lakeland has received approvals from the FDIC and the New Jersey Department of Banking and Insurance. That leaves only a green light from the Federal Reserve.
By Gabrielle Saulsbery • March 26, 2024 -
mphillips007 via Getty Images
M&T Bank hires Big Tobacco vet in chief communications role
Sarah Knakmuhs, previously a vice president of government affairs at Phillip Morris parent Altria, will lead a team of 20 people while bolstering the bank’s internal and external communications.
By Rajashree Chakravarty • March 25, 2024
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