Commercial: Page 7
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Permission granted by Aspiration
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 Rajashree Chakravarty • May 8, 2024 -
Permission granted by Fifth Third
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 Rajashree Chakravarty • May 8, 2024 -
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 -
Justin Sullivan via Getty Images
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 Caitlin Mullen • May 8, 2024 -
Pgiam via Getty Images
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 Dan Ennis • May 6, 2024 -
Oli Scarff via Getty Images
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 Rajashree Chakravarty • May 6, 2024 -
Courtesy of U.S. Bank
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 Caitlin Mullen • May 6, 2024 -
Justin Sullivan / Staff via Getty Images
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 Rajashree Chakravarty • May 3, 2024 -
Mario Tama via Getty Images
ColumnDive 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 Dan Ennis • May 3, 2024 -
Chris Hondros via Getty Images
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 Gabrielle Saulsbery • May 2, 2024 -
Spencer Platt via Getty Images
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 Rajashree Chakravarty • May 2, 2024 -
Mario Tama via Getty Images
Citi banker, accused of berating and intimidating employees, leaves: report
Edward Ruff was placed on leave in January as the bank investigated allegations he intimidated one co-worker and shouted insults at members of his team because they were late to a call.
By Dan Ennis • May 2, 2024 -
Drew Angerer / Staff via Getty Images
Wells Fargo shareholders reject union-busting audit
Workers at a handful of the bank’s 4,000 branches have made a splash in recent months by voting to unionize.
By Gabrielle Saulsbery • May 1, 2024 -
Spencer Platt / Staff via Getty Images
NYCB posts $335M loss, but shares jump on turnaround plan
CEO Joseph Otting said the lender has “identified an opportunity” to sell $5 billion in assets but declined to share details until a deal is final.
By Caitlin Mullen • May 1, 2024 -
Michael Lawrence via Getty Images
Morgan Stanley’s $20M bonuses draw proxy adviser’s fire
Glass Lewis recommended shareholders reject a pay package that gave one-time $20 million awards to the bank's newly minted CEO and his two fellow candidates to succeed James Gorman.
By Dan Ennis • April 30, 2024 -
Matt Cardy via Getty Images
HSBC CEO to step down
“After an intense five years, it is now the right time for me to get a better balance between my personal and business life,” Noel Quinn said Tuesday. HSBC will consider internal and external candidates for the role, it said.
By Rajashree Chakravarty • April 30, 2024 -
Spencer Platt / Staff via Getty Images
NYCB postpones annual meeting by 2 weeks
The bank, at the time of the delay, had yet to say when it would report first-quarter results. Those are coming Wednesday.
By Caitlin Mullen • April 30, 2024 -
Drew Angerer via Getty Images
State Street, sculptor settle Fearless Girl lawsuit
State Street and Kristen Visbal reached a settlement over the weekend following mediation. The settlement averted a trial that was set to start between the two parties this week.
By Gabrielle Saulsbery • April 30, 2024 -
iStock via Getty Images
UMB to buy Heartland Financial for $2B
The deal will mark UMB’s largest acquisition in its 111-year history, increasing total assets by more than 40% to $64.5 billion.
By Gabrielle Saulsbery • April 29, 2024 -
Thomas Lohnes via Getty Images
Deutsche Bank plans to set aside $1.4B over Postbank case
A Cologne court intends, at least partially, to favor Postbank shareholders over claims that Deutsche low-balled them in 2010 takeover offers, Deutsche disclosed Friday.
By Rajashree Chakravarty • April 29, 2024 -
Mark Makela via Getty Images
Republic First is seized, assets sold to Fulton Bank
The first bank failure of 2024 punctuates the discord that has brewed at Republic First for more than two years. Fulton, meanwhile, will double its Philadelphia presence through the deal.
By Dan Ennis • April 26, 2024 -
Chris Hondros via Getty Images
Russian court orders seizure of nearly $440M in JPMorgan funds
The ongoing legal battle between state-owned VTB Bank and the largest U.S. bank revolves around funds frozen in the wake of Russia’s invasion of Ukraine and subsequent sanctions.
By Rajashree Chakravarty • April 25, 2024 -
Permission granted by First Internet Bank
First Internet Bank CEO talks M&A, BaaS work
After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.
By Caitlin Mullen • April 24, 2024 -
Drew Angerer via Getty Images
ColumnDive Deposits: Moynihan, Pick are refashioning the buttoned-up earnings call, with words
Seven comments from executives and officials show varying degrees of unexpected boldness during banks’ most straight-laced period.
By Dan Ennis • April 24, 2024 -
Mario Tama via Getty Images
Citi failed to protect managing director from sexual harassment, lawsuit claims
Ardith Lindsey filed additional details Monday in her lawsuit against the bank regarding a supervisor’s threats against her and her family.
By Rajashree Chakravarty • April 23, 2024 -
Win McNamee / Staff via Getty Images
For Capital One and Discover, the 4th time may have been the charm
Discover rebuffed three Capital One pitches before agreeing to a deal, and talks halted for seven weeks, an SEC filing indicates.
By Dan Ennis • April 22, 2024
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