Retail: Page 28
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Revolut names new US CEO to accelerate North American growth
The move represents an expansion of responsibilities for Sid Jajodia, who will continue to serve as the company’s chief banking officer, a role he’s held since July 2021.
By Anna Hrushka • July 5, 2022 -
BMO Harris to cut overdraft fees to $15 from $36
The bank in November reduced the number of overdraft and NSF charges a customer can run up per day. It also increased — to $50 in the red — the threshold at which customers incur an overdraft fee.
By Robin Bradley • July 5, 2022 -
Explore the Trendline➔
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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 -
Justin Sullivan via Getty Images
3 potential buyers emerge for Citi's Russia operations
An insurance firm and banks that once served as Russian subsidiaries of Barclays and Société Générale are in the running to snag a footprint the U.S. bank has been looking to shed for 15 months, according to the Financial Times.
By Dan Ennis • July 1, 2022 -
Zach Gibson via Getty Images
Waters urges regulators to 'escalate penalties' against Wells Fargo
The chair of the House Financial Services Committee called on the CFPB, OCC, FDIC, Fed and HUD to address mounting reports of consumer abuses and discriminatory behavior at the San Francisco-based bank.
By Robin Bradley • June 30, 2022 -
Permission granted by Chime
Q&AChime's new CMO wants to build the industry's best marketing machine
“This is not a turnaround. This is not a reset of everything. It's about connecting the ingredients,” Chime CMO Vineet Mehra said of the new role.
By Anna Hrushka • June 30, 2022 -
Retrieved from Consumer Financial Protection Bureau.
Chamber of Commerce, trade groups blast CFPB for perceived overreach
The groups demand the regulator rescind updates to an exam manual that pushes the definition of “unfairness” to include discrimination.
By Robin Bradley • June 29, 2022 -
GlobeNewsWire
https://www.globenewswire.com/en/news-release/2022/06/27/2469596/30865/en/Greystone-Appoints-Hafize-Gaye-Erkan-as-CEO.html
Ex-First Republic co-CEO Erkan to take the reins atop Greystone
Erkan’s abrupt departure from First Republic in January came days after the bank’s founder went on medical leave — opening a potential leadership vacuum that has sent the company’s stock price spiraling.
By Robin Bradley • June 28, 2022 -
crbellette via Getty Images
Big banks pass muster in Fed's annual stress test
The 33 largest U.S. banks would be able to maintain adequate capital levels in the event of a severe recession, the Federal Reserve found in its latest annual bank stress test.
By Robin Bradley • June 24, 2022 -
Chris Hondros via Getty Images
JPMorgan lays off hundreds in mortgage division amid rising rates
The move, which follows last week’s rate hike by the Federal Reserve, comes as rising home mortgage rates are quelling demand in the housing market.
By Anna Hrushka • June 23, 2022 -
CFPB takes aim at card late fees
The Consumer Financial Protection Bureau seems to think credit card late fees are out of control. Now, it plans to do something about it.
By Lynne Marek • June 23, 2022 -
Chainarong Prasertthai via Getty Images
Breach at Flagstar Bank impacts more than 1.5M customers
The breach, which occurred between Dec. 3 and Dec. 4, is the second to impact the bank in less than two years.
By Anna Hrushka • June 22, 2022 -
Permission granted by Truist
Truist opens Innovation Technology Center in Charlotte headquarters
The 100,000-square-foot space is a physical manifestation of the bank’s technology, touch and trust concept, said Ken Meyer, Truist’s divisional CIO and experience officer.
By Anna Hrushka • June 21, 2022 -
Mark Wilson via Getty Images
Ex-Amazon employee convicted over 2019 Capital One breach
Paige Thompson was found guilty of seven federal crimes in connection with the 2019 Capital One hack.
By Robin Bradley • June 19, 2022 -
DenisTangneyJr via Getty Images
M&T president, COO to step down next year
Richard Gold will retire as president and COO of the Buffalo, New York-based firm after the first quarter of 2023.
By Robin Bradley • June 17, 2022 -
Drew Angerer / Staff via Getty Images
Sen. Warren asks OCC to block TD merger over fraud reports
Warren cited a Capitol Forum report that alleged the Toronto-based lender signed up customers for costly services without their knowledge or consent.
By Robin Bradley • June 16, 2022 -
Justin Sullivan via Getty Images
Canada's VersaBank to buy Minnesota bank in bid to gain OCC charter
The $13.5 million deal, expected to close by October, represents a trend among financial firms to purchase the coveted OCC bank charter rather than embark on the expensive, arduous journey of applying for one.
By Anna Hrushka • June 15, 2022 -
hansslegers via Getty Images
Truist, PNC map out push into new markets
Truist Wealth sets its sights on the Windy City as PNC reorganizes to better manage its expanded footprint in the West after absorbing BBVA’s American arm last year.
By Robin Bradley • June 14, 2022 -
Permission granted by Citizens Financial Group
Citizens, Frost Bank pledge to eliminate NSF fees
The Providence, Rhode Island-based bank is also curbing savings overdraft protection fees this month and expanding its early wage access.
By Robin Bradley • Updated June 14, 2022 -
Mario Tama via Getty Images
ColumnCiti's 7,000 new-hire push should come as no surprise
The bank warned investors in March that expenses could jump 10% to 12% over first-quarter levels. And it said it would pour some of its retail-exit windfall back into wealth management.
By Dan Ennis • June 8, 2022 -
Retrieved from Wells Fargo on June 08, 2022
Wells Fargo poaches JPMorgan Chase's retail communications chief
Amy Bonitatibus will join Wells Fargo as head of communications and brand management Sept. 12. Barri Rafferty, that post’s previous occupant, left the bank May 1.
By Robin Bradley • June 8, 2022 -
Spencer Platt / Staff via Getty Images
NYCB, Flagstar to drop NSF and certain overdraft fees
The banks will eliminate overdraft transfer fees between linked accounts beginning Aug. 1, but they will not go so far as some firms to scrap overdraft entirely.
By Robin Bradley • June 6, 2022 -
Qi Yang via Getty Images
Sponsored by West MonroeWhy a digital operating model is necessary for banks to reach their goals
To meet demands from inside and out, banks need a digitally forward operating model to power the entire enterprise.
June 6, 2022 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo employees seek to organize union
Organizers, seeking a pay raise, increased staffing and a chance to discuss recent scandals, said the COVID crisis served as a wake-up call that some policies were unclear or applied unevenly.
By Robin Bradley • June 3, 2022 -
Pennsylvania's FNB to expand in North Carolina with $117M deal
The Pittsburgh bank's purchase of Union Bank, which is expected to close before the end of 2022, entrenches the Tar Heel State as a "growth engine" for the company.
By Robin Bradley • June 2, 2022 -
Permission granted by Quontic Bank
Deep DiveBanks eye first-mover advantage to embracing the metaverse
Banks are carving out their own spaces in the metaverse, a virtual world estimated to represent a $1 trillion market opportunity.
By Anna Hrushka • June 2, 2022
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