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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 -
Mario Tama via Getty Images
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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Courtesy of Fifth Third
TrendlineTop 5 stories from Banking Dive
As the banking sphere prepares for a second Trump presidency, institutions are weighing branch strategy and regulatory changes — and looking at how past crises have altered their perception of risk.
By Banking Dive staff -
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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 -
Pgiam via Getty Images
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 -
Michael M. Santiago / Staff via Getty Images
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 -
Arnd Wiegmann / Stringer via Getty Images
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 -
Justin Sullivan via Getty Images
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 -
Leon Neal via Getty Images
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 -
Marcio Silva via Getty Images
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 -
Pgiam via Getty Images
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 -
Spencer Platt / Staff via Getty Images
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 -
Michael M. Santiago via Getty Images
Nonbranch Wells Fargo workers vote to unionize
A group of conduct management investigators spread across the country voted to join Wells Fargo Workers United. The National Labor Relations Board certified the vote Tuesday.
By Gabrielle Saulsbery • Dec. 12, 2024 -
Drew Angerer / Staff via Getty Images
Wells Fargo’s Scharf calls for capital requirements clarity
The bank’s CEO on Wednesday called uncertainty around how much extra capital banks will be required to hold “a crazy way to run a system.”
By Caitlin Mullen • Dec. 11, 2024 -
Drew Angerer/Getty Images via Getty Images
PNC’s Demchak: De-regulation clamor is overblown
“I think people are a little bit too excited … that they’re just going to let everybody run free here,” the Pittsburgh bank's CEO said. “I don’t see that at all.”
By Caitlin Mullen • Dec. 11, 2024 -
Kiran Ridley via Getty Images
Could a French bank foil UniCredit’s play for Banco BPM?
Crédit Agricole boosted its stake in BPM — borrowing a strategy UniCredit used on Commerzbank. The French bank insists it doesn’t aim to buy BPM. The Italian government seems OK with that.
By Dan Ennis • Dec. 9, 2024 -
Courtesy of PNC
Q&APNC leans into branch staff with hospitality industry roots
“It’s a mindset,” one executive said. “We want people that are client advocates, that can drive the hospitable environment that we’re looking for, but also have the intellect, the curiosity to help.”
By Caitlin Mullen • Dec. 9, 2024 -
Kate Tornone/Banking Dive
Citizens tweaks features, eyeing primacy for customers
Recent upgrades to the super-regional’s digital experience are aimed at fueling primacy with clients, a Citizens executive said, as banks vie to be their customers’ No. 1.
By Caitlin Mullen • Dec. 6, 2024 -
Justin Sullivan / Staff via Getty Images
Wells Fargo to lay off hundreds in Oregon
The Hillsboro and Salem offices, with 500 and 221 employees, respectively, might be impacted by the lender’s decision to pull out of these locations, according to a WARN notice filed Tuesday.
By Rajashree Chakravarty • Dec. 5, 2024
