Retail
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Spencer Platt / Staff via Getty Images
TD slashes pay for 41 execs, expedites Chun’s start date
Compensation cuts reflect “the seriousness of the U.S. [anti-money laundering] failures, the associated costs to the Bank, and the limitations imposed on the U.S. retail business,” the bank said Friday.
By Caitlin Mullen • Jan. 17, 2025 -
Permission granted by U.S. Bank
Q&AU.S. Bank scouts for agentic AI as age of ‘do it for me’ awaits
The super-regional’s chief innovation officer said there’s a fine line between being proactive and helpful, versus being proactive and creepy. “We don’t want to cross the creepy line,” he said.
By Caitlin Mullen • Jan. 16, 2025 -
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 -
Montana’s Glacier Bancorp to buy Idaho lender in $245.4M deal
Acquiring Bank of Idaho will add 15 locations to Glacier's footprint, along with $1.3 billion in assets. The acquisition, set to close in the second quarter, would be Glacier's 26th since 2000.
By Gabrielle Saulsbery • Jan. 15, 2025 -
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CFPB sues Capital One over $2B in unpaid interest to customers
The agency accused Capital One of obscuring a new, higher-paying savings product from some legacy savings account holders. The bank said it is “disappointed” with the bureau’s “eleventh hour lawsuits.”
By Caitlin Mullen • Jan. 14, 2025 -
Michael M. Santiago / Staff via Getty Images
JPMorgan elevates Piepszak to COO
Jennifer Piepszak replaces Daniel Pinto, who will retire in 2026. But she indicated she’d rather work in a “senior operating role” than be considered to succeed CEO Jamie Dimon “at this time.”
By Dan Ennis • Jan. 14, 2025 -
Anna Hrushka/Banking Dive
FDIC’s Hill sets out priorities for agency’s ‘new direction’
The agency’s vice chair anticipates a shift in bank supervision that emphasizes core financial risks over a process-related focus.
By Caitlin Mullen • Jan. 13, 2025 -
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Fed approves UMB’s $2B acquisition of HTLF
The transaction, set to close by Jan. 31, would boost UMB’s assets by roughly 40%, more than double its branch footprint and give it entry to five new states.
By Dan Ennis • Jan. 13, 2025 -
Courtesy of USAA
USAA picks board member Andrade as next CEO
Juan Andrade will succeed Wayne Peacock as the financial institution’s president and CEO starting April 2. Peacock announced his retirement in August.
By Rajashree Chakravarty • Jan. 9, 2025 -
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ColumnDive Deposits: Morgan Stanley’s MD promotions don’t set records, they follow the herd
While Citi, BofA and Goldman touted their biggest cohorts of managing directors in years, Morgan Stanley elevated greater numbers in 2022 and 2023. But the banks appear in lock-step on other value markers.
By Dan Ennis • Jan. 9, 2025 -
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CFPB brings back sandbox but keeps competition emphasis
The bureau’s policies restore the no-action letter and sandbox designation, but feature some tweaks aimed at correcting past “shortcomings.”
By Caitlin Mullen • Jan. 9, 2025 -
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6 banking trends to watch in 2025
Donald Trump’s return to the White House is expected to make an impression on a number of facets in banking – from regulation to M&A to crypto.
By Dan Ennis , Rajashree Chakravarty , Caitlin Mullen , Gabrielle Saulsbery • Jan. 8, 2025 -
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Q&AHow Wells Fargo aims to boost trust among underbanked
The bank has been focused on providing services that are “in language and in culture” to foster trust and transparency, said Michael Martino, head of Wells’ inclusion initiative.
By Caitlin Mullen • Jan. 8, 2025 -
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Credit Suisse had more Nazi-linked accounts than previously known: probe
The Swiss bank engaged in a “pattern of obstruction” by not sharing some information during past investigations into the lender’s ties to Nazis, the Senate Budget Committee said.
By Caitlin Mullen • Jan. 6, 2025 -
Anna Hrushka/Banking Dive
Kansas bank challenges $20M FDIC penalty
CBW Bank, charged with failing to maintain adequate anti-money laundering controls, has filed a lawsuit challenging the agency’s action, calling the penalty “unreasonable and unprecedented for a bank of this size.”
By Caitlin Mullen • Jan. 2, 2025 -
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Hawaiian Electric sells majority stake in American Savings Bank
The $450 million deal follows the Hawaiian utility company’s agreement last year to put close to $2 billion toward a joint settlement stemming from the 2023 Maui wildfires.
By Caitlin Mullen • Jan. 2, 2025 -
Spencer Platt via Getty Images
What Jamie Dimon’s potential successor says about regulation, customer growth
Marianne Lake, CEO of consumer and community banking at JPMorgan Chase, worries most about an uneven playing field, where “as a result of regulation or legislation, effectively, winners and losers are being picked,” she says.
By Caitlin Mullen • Jan. 2, 2025 -
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Kraken decries crypto de-banking amid Metro Bank ban
Metro is one of several U.K. lenders to impose a bar or limit on deposits into crypto exchanges. A Metro Bank spokesperson says the thrust is to curb fraud.
By Gabrielle Saulsbery • Dec. 19, 2024 -
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Flagstar fined $3.5M for ‘misleading’ after 2021 cyberattack
The bank “negligently made” materially misleading statements after a hack that resulted in the theft of 1.5 million customers’ personally identifying information.
By Gabrielle Saulsbery • Dec. 19, 2024 -
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TrackerA running list of BaaS banks hit with consent orders in 2024
Regulators have taken a harder look at bank-fintech partnerships. Experts said the orders highlight gaps in due diligence and monitoring related to third-party partners.
Dec. 18, 2024 -
Ohio’s Northwest to acquire Penns Woods in $270.4M deal
Buying the holding company for Jersey Shore State Bank and Luzerne Bank will give Northwest 24 added Pennsylvania locations and create a $17 billion-asset bank.
By Dan Ennis • Dec. 18, 2024 -
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Berkshire, Brookline ink $1.1B merger
The Massachusetts banks will together create a $24 billion-asset, 148-branch institution in a transaction expected to close in the second half of 2025.
By Gabrielle Saulsbery • Dec. 17, 2024 -
Spencer Platt / Staff via Getty Images
Flagstar makes 2nd CFO change this year
Lee Smith, the bank’s president of mortgage, will take over as chief financial officer Dec. 27, as Craig Gifford will “reengage in personal endeavors outside of banking,” Flagstar said. Gifford joined Flagstar in April.
By Dan Ennis • Dec. 17, 2024 -
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SouthState, Independent deal approved by Fed
The roughly $2 billion deal is the second banking investment or combination to which the central bank has given its blessing in as many days.
By Dan Ennis • Dec. 13, 2024 -
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Scotiabank gets Fed’s approval to take bigger KeyBank stake
The earlier-than-expected green light will let the Canadian lender proceed to Phase 2 of its investment — a $2 billion infusion and the right to name two directors to the Cleveland bank’s board.
By Dan Ennis • Dec. 13, 2024 -
Courtesy of Ally Financial
Ally CEO indicates card business not a core focus
“In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.
By Caitlin Mullen • Dec. 13, 2024
