Senators urge Fed to overhaul big-bank merger policy

A revamp is critical given the spate of regional bank failures this year, said Sen. Sherrod Brown, D-OH, and three others, who accused the central bank of approving mergers under an “old rubric.”

By Anna Hrushka • Aug. 10, 2023

MoneyLion faces suit over stock, earn-out payments

The founders of Malka Media Group, a creator network MoneyLion acquired in 2021, claim the neobank is withholding millions of dollars and using “delay tactics to drag out the resolution process.”

By Anna Hrushka • Aug. 9, 2023

Explore the Trendline➔

Top 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

KeyBank misled investors on liquidity, lawsuit claims

The bank blamed marginal funding costs for its downward revision of net interest income, a shareholder said. But that adjustment came less than a week before confidence in regional lenders spiraled.

By Dan Ennis • Aug. 8, 2023

Banks’ 10-Q filings become unexpected must-reads

Apart from disclosing their estimated share of the FDIC's special assessment fee, some financial institutions revealed deepening relationships and even a compensation package.

By Dan Ennis • Aug. 7, 2023

RBC hiring climate transition chief amid fossil-fuel criticism

The job opening seeks an executive to “orchestrate, unify and advance” a federated set of climate-related activities.

By Rajashree Chakravarty • Aug. 4, 2023

Revolut halts US crypto trading

U.S. customers will no longer be able to buy tokens on the neobank’s platform as of Sept. 2, and crypto access for those users will be disabled a month later, the neobank said.

By Anna Hrushka • Aug. 4, 2023

Banks look beyond mobile-platform adoption, aim to boost UX

Curbing dropoff rates and optimizing user experience flow is a higher priority than incorporating as many bells and whistles as possible, executives said.

By Suman Bhattacharyya • Aug. 4, 2023

Figure withdraws bank charter application

The blockchain startup applied for a charter in 2020, then included plans to seek deposit insurance after the Conference of State Bank Supervisors sued.

By Gabrielle Saulsbery • Aug. 2, 2023

Bunq CEO: US regulators ‘tough but fair’ amid license wait

“At Bunq we’d rather do things right than rush things,” said Ali Niknam, who founded the Dutch fintech in 2012. “And the only way for us to be able to do that is by having our own bank.”

By Anna Hrushka • Aug. 2, 2023

Laurentian Bank seems to have missed first deadline to find buyer

Both TD and Scotiabank last week backed out as potential buyers of Canada's ninth-largest bank, according to The Globe and Mail.

By Gabrielle Saulsbery • Aug. 1, 2023

Dream First acquires Heartland Tri-State in Kansas bank failure

Heartland "became insolvent due to an isolated event," the state regulator said. Dream First adds four branches, around $139 million in assets and $130 million in deposits.

By Rajashree Chakravarty • July 31, 2023

How banks could fit into Elon Musk’s plans for an ‘everything app’

The billionaire’s intent to bring the social media platform into the banking and payments landscape presents both opportunities and risks for traditional banks, experts said.

By Anna Hrushka • July 31, 2023

[Podcast] Igniting organic growth and driving customer value in banking

This podcast explains how leading banks utilize data to enhance customer understanding and drive organic growth. Discover valuable insights from EY Global's research on consumer preferences and learn from the strategies of Bank of America and Citizens Financial Group.

By Banking Dive's studioID • July 31, 2023

Citi says its predecessors likely benefited from slavery

The conclusion came in an independent review the bank agreed to as part of its 2020 racial equity pledge.

By Rajashree Chakravarty • July 28, 2023

Upgrade acquires BNPL firm Uplift for $100M

The deal, Upgrade’s first acquisition, more than doubles the neobank’s customer base by adding 3.3 million users to its existing 2.5 million, CEO Renaud Laplanche said.

By Anna Hrushka • July 27, 2023

NatWest CEO Alison Rose steps down

The move comes less than a day after Rose admitted a “serious error of judgment” in discussing the closure of politician-turned-pundit Nigel Farage’s account with a journalist.

By Rajashree Chakravarty • July 26, 2023

Greenwood, Gathering Spot settle business dispute

“No one wins when the family feuds,” executives for Greenwood and The Gathering Spot said in a joint statement. “We apologize for distracting our communities over the last week as this became a topic of so much public discussion.”

By Anna Hrushka • July 26, 2023

Banc of California agrees to buy PacWest

The deal includes a $400 million investment from Warburg Pincus and Centerbridge Partners, and gives the private-equity firms a 19% stake in the combined company.

By Dan Ennis • July 26, 2023

Citi acquires Deutsche Bank’s Mexico license

The deal will help Citi separate its institutional and private business in Mexico from its consumer, small-business and middle-market operations ahead of a planned IPO for Banamex in 2025.

By Rajashree Chakravarty • July 25, 2023

Gathering Spot founders sue neobank Greenwood

T’Keel Petersen and Ryan Wilson, who co-founded the club for Black professionals in 2016, claim the neobank owes them and other TGS shareholders roughly $5 million in earn-out payments.

By Anna Hrushka • July 24, 2023

FTX sues Bankman-Fried, former execs for more than $1B

The company accused its former CEO and three ex-executives of misappropriating funds to buy luxury condominiums and make speculative investments and political contributions.

By Gabrielle Saulsbery • July 21, 2023

Capital One bets on tech engine for card, retail banking growth

“Our modern technology capabilities are generating an expanding set of opportunities across our business,” CEO Richard Fairbank said Thursday.

By Matt Ashare • July 21, 2023

Blue Ridge Bank holding company’s CEO resigns

The president of the bank’s fintech division, Kirsten Muetzel, also is leaving the bank this month, according to her LinkedIn profile.

By Anna Hrushka • July 20, 2023

Goldman takes nearly $1B in impairments as profit falls 60%

The bank took losses tied to commercial real estate and GreenSky, reporting its lowest three-month net income in three years.

By Gabrielle Saulsbery • July 19, 2023

Apple debuts recurring payments

The tech giant, now valued at $3 trillion, is continuing to expand its financial offerings after debuting a buy now, pay later feature and a savings account earlier this year.

By James Pothen • July 14, 2023