Retail
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Drew Angerer / Staff via Getty Images
Truist CEO: No ‘merger hangover’ with expenses
As the bank approaches five years since the completion of the SunTrust-BB&T merger, Truist CEO Bill Rogers sought to assure analysts Thursday that it’s on offense rather than defense.
By Caitlin Mullen • Oct. 17, 2024 -
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Fairway to pay $9.9M in redlining settlement
The lender allegedly discouraged residents of Black-majority neighborhoods from applying for mortgages. Fairway said the complaint “appears to be intentionally inflammatory in nature.”
By Gabrielle Saulsbery • Oct. 16, 2024 -
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TrendlineTop 5 stories from Banking Dive
Everything old is new again. One year after Citi’s reorganization, progress comes in “fits and starts.” Meanwhile, a contentious proposed rule is generating “voluminous” feedback after 14 months.
By Banking Dive staff -
(2024). [Photo]. Retrieved from Federal Reserve.
Credit unions, fintechs should face same regulations as banks: Fed’s Bowman
“[Community banks] are also subject to a broader range of restrictions imposed by regulatory requirements…the disparity in the legal framework can have a distortive effect on competition,” Bowman said.
By Rajashree Chakravarty • Oct. 15, 2024 -
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Citi ‘can walk and chew gum at the same time’: Fraser
CEO Jane Fraser cited the bank’s ability to cut expenses while addressing the data, risk and control flaws regulators have flagged.
By Caitlin Mullen • Oct. 15, 2024 -
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Goldman profits soar 45% year over year
CEO David Solomon touted an “improving operating environment” and reported gains in wealth management and investment banking fees. But its Platform Solutions business saw a 42% quarterly drop.
By Gabrielle Saulsbery • Oct. 15, 2024 -
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Associated Bank takes ‘needs-based’ approach to growth
The Wisconsin lender’s sales team has retrained to have “more holistic conversations” with clients and use “advice and guidance” as its bedrock, an executive said.
By Caitlin Mullen • Oct. 14, 2024 -
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Sponsored by Federal Reserve Financial ServicesIncreasing ROI and managing risk with the FedNow® Service
Benefits of instant payments extend beyond customer convenience.
Oct. 14, 2024 -
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Michigan bank ex-exec sues for alleged retaliation
Todd Gray says bank higher-ups pushed him away when he showed concern about a new mortgage subsidiary. That subsidiary cost the bank millions of dollars before shutting down last year, he said.
By Gabrielle Saulsbery • Oct. 11, 2024 -
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Dimon won’t rule out government role
The JPMorgan CEO largely dismissed the idea of serving in the next presidential administration, but he said, “I don’t make promises.” Wells Fargo’s CEO, meanwhile, said work on the bank’s AML issues is well underway.
By Caitlin Mullen • Oct. 11, 2024 -
First Interstate hires 37-year Colorado banking vet as next CEO
Jim Reuter retired this year as FirstBank’s CEO, saying he was “looking forward to pursuing other interests.” As it turns out, that includes leading another bank.
By Dan Ennis • Oct. 11, 2024 -
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After Helene, banks aim to meet needs ‘exactly where they’re at right now’
With Hurricane Milton tearing through Florida just after Helene devastated parts of the Carolinas and Tennessee, banks with a heavy Southeast presence are working to provide employees and customers with financial relief and basic needs like showers.
By Caitlin Mullen • Oct. 10, 2024 -
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TD hit with asset cap, $3B in penalties over AML woes
The bank will pay $1.8 billion to the Justice Department, $1.3 billion to FinCEN, and growth will be restricted in the bank’s U.S. retail unit.
By Dan Ennis , Gabrielle Saulsbery • Oct. 10, 2024 -
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Grasshopper Bank to buy Auto Club Trust
Grasshopper's deal with ACT, a subsidiary of The Auto Club Group, would increase its assets to $1.4 billion.
By Rajashree Chakravarty • Oct. 9, 2024 -
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Crypto.com sues SEC
The exchange is now one of several sparring with the Securities and Exchange Commission.
By Gabrielle Saulsbery • Oct. 9, 2024 -
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Credit union deal record extends
Community First Bank is the 18th proposed whole-bank acquisition by a credit union this year, and the sixth with ties to Washington state.
By Gabrielle Saulsbery • Oct. 9, 2024 -
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FTX bankruptcy plan would give ex-customers an extra 19%
Creditors will receive up to $16.5 billion, nearly two years after their funds were frozen by the crypto firm’s shocking bankruptcy, according to a plan approved by a judge Monday.
By Gabrielle Saulsbery • Oct. 8, 2024 -
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Tech costs, regulatory demands among community bankers’ top worries
A recent survey of community bankers also cited cost of funds as a top risk, amid the higher rate environment. “Right now, our motto is ‘Survive until 2025,’” a Pennsylvania community bank CEO said.
By Caitlin Mullen • Oct. 8, 2024 -
Justin Sullivan / Staff via Getty Images
Bank of America users report online access issues
Some customers said they were unable to sign in to their accounts. Others reported seeing incorrect or untimely balances. The issues “have largely been resolved,” the bank said Wednesday night.
By Dan Ennis • Oct. 3, 2024 -
Jonathan Drake/Reuters
Hurricane Helene aftermath prompts card, cash troubles
After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.
By Lynne Marek • Oct. 3, 2024 -
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2025 banking conference roundup
Gatherings can serve as idea generators, measuring sticks and connectors, as attendees meet to discuss innovations like AI, banking’s intersection with fintech and the future of capital requirements.
By Dan Ennis • Oct. 1, 2024 -
Michael M. Santiago / Staff via Getty Images
Wells Fargo faces new class-action suit over cash sweeps
A lawsuit filed Tuesday accused the lender of underpaying interest “to enrich itself at its customers’ expense.”
By Rajashree Chakravarty • Sept. 26, 2024 -
Justin Sullivan / Staff via Getty Images
Bank of America adds family banking to give parents control of kids’ spending
The lender isn’t the first to launch such a product, as the opportunity to grow with Gen Z and Gen Alpha draws more players.
By Caitlin Mullen • Sept. 26, 2024 -
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NY credit union-bank tie-up pushes 2024 to brink of M&A record
Rochester-based ESL's proposed acquisition of Generations Bancorp is the 16th announced whole-bank purchase by a credit union this year, tying it with 2022.
By Rajashree Chakravarty • Sept. 24, 2024 -
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Bank of America on pace to open 165 branches by 2026
The lender’s expansion will include roughly 40 branch openings this year, including its first location in Louisville, Kentucky.
By Rajashree Chakravarty • Sept. 23, 2024 -
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Hawaii bank rebuffs investor group’s acquisition offer
Territorial Bank is in the middle of an acquisition process by California’s Hope Bancorp. A recent offer by Blue Hill Advisors was unsolicited.
By Gabrielle Saulsbery • Sept. 23, 2024
