Incessant drive for growth widens bank-client gulf, Grasshopper CEO says

Entrepreneurs who are used to consumer banking features are left wanting when they aren't able to find the same quality on the commercial side, says the bank's chief, Judith Erwin.

By Anna Hrushka • Nov. 15, 2019

NJ governor creates board to establish public bank

Democratic Gov. Phil Murphy campaigned on the idea two years ago. But opponents say he could move taxpayer funds out of overseas financial institutions and into state ones without creating another bank.

By Dan Ennis • Nov. 14, 2019

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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

Ignoring female consumers costs financial industry $700B a year

The Women in Financial Services 2020 report found the industry's products are not consistently designed for women's financial lives.

By Anna Hrushka • Nov. 12, 2019

Apple Card under investigation for alleged gender discrimination

Customers, such as software developer David Heinemeier Hansson, took to Twitter to complain the credit line offered by his Apple Card was 20 times higher than what was offered to his spouse.

By Anna Hrushka • Nov. 11, 2019

SunTrust selling 30 branches to satisfy DOJ antitrust concerns over BB&T merger

First Horizon will assume approximately $2.4 billion in deposits for a deposit premium of 3.4%, and will purchase about $410 million in loans.

By Anna Hrushka • Nov. 8, 2019

Why banks should take user experience cues from nonbanks

“If Amazon is doing something, and it works, we should at least try it," SunTrust's Andy Vitale said during a Bank Innovation Build panel on designing a dynamic customer experience.

By Anna Hrushka • Nov. 8, 2019

How banks and fintechs can balance security, safety and convenience

In a wide-ranging discussion during Bank Innovation Build, panelists weighed in on how to protect data for financial institutions, with some offering tips and best practices.

By Anna Hrushka • Nov. 7, 2019

7 questions with SunTrust CMO Susan Somersille Johnson

The executive spoke with Banking Dive about fintech partnerships, the challenges that come with a major rebrand, and how tech is transforming the bank’s marketing efforts.

By Anna Hrushka • Nov. 6, 2019

First Horizon to acquire IberiaBank in $3.9B all-stock deal

The "merger of equals," set to close July 1, will make Memphis, Tennessee-based First Horizon one of the top 25 banks in the country by asset size.

By Anna Hrushka • Updated June 16, 2020

Capital One outage blocks customers' direct deposits, cash withdrawal

The service disruption has been resolved, a bank spokesperson said. But the outage came at a confluence of inconvenient times: a Friday, which is payday for many people — and the first day of the month, when many pay their bills.

By Anna Hrushka • Nov. 1, 2019

House bill would require bank CEOs to report to Washington annually

The Greater Supervision in Banking Act would also force top banks to disclose any enforcement or regulatory actions taken against them over the past year.

By Anna Hrushka • Nov. 1, 2019

Why digital bank Varo wants a national bank charter

"I think Varo is going to play a fairly historic role in reshaping the American banking landscape," the company's CEO, Colin Walsh, told Banking Dive at this week's Money20/20 conference in Las Vegas.

By Anna Hrushka • Oct. 31, 2019

Green Dot, Walmart renew prepaid card deal, launch fintech accelerator

The agreement ensures Green Dot will remain the issuing bank behind MoneyCard through 2027. About 35% of the fintech's second-quarter revenue came from sales at the retail giant's stores.

By Dan Ennis • Oct. 30, 2019

Majority CEO: The future of banking is specialized

"Banks need to figure out their place in the value chain ... And I think that's where you're going to see winners emerging," Majority CEO Magnus Larsson said.

By Anna Hrushka • Oct. 30, 2019

Ondot aims to give smaller banks 'Apple Card-like' success with Card App

Fintech partnerships can help community banks go high-tech while staying high-touch, an ICBA executive says.

By Anna Hrushka • Oct. 29, 2019

FDIC's regulatory framework 'ripe for revisiting,' chair McWilliams says

"If we have rules and regulations that we have not touched internally for 10 years or more, open them up to procurement," she recalled telling the FDIC in taking the role.

By Anna Hrushka • Oct. 23, 2019

ICBA launches 'Wake Up' campaign in ongoing fight against credit unions

The Credit Union National Association has criticized the campaign, issuing a statement refuting many of the ICBA's claims.

By Anna Hrushka • Oct. 22, 2019

JPMorgan Chase expands effort to hire people with criminal backgrounds

The U.S. loses $78 billion to $87 billion a year by excluding people with criminal records from the workforce, according to the bank's research.

By Anna Hrushka • Oct. 21, 2019

Wells Fargo must offer 66 jobs to applicants it rejected in 2014

The bank also must pay $603,612 in back wages, benefits and interest in a settlement with the Labor Department alleging racial and gender discrimination.

By Dan Ennis • Oct. 21, 2019

Affirm launches mobile app for payment installments

The payment platform is targeting credit card-averse millennials and Gen Z shoppers ahead of the holiday season.

By Tatiana Walk-Morris • Oct. 18, 2019

Chime outage keeps customers from accessing cash

Galileo, the platform that powers Chime, told Banking Dive it is working to restore Chime's mobile app, "which is currently unavailable or slow to respond." Chime's card services have since been restored.

By Anna Hrushka • Oct. 17, 2019

Mortgage banking boosts U.S. Bank's Q3 profits

Strategic investments in loan officers and its digital platform have contributed to the growth of U.S. Bancorp's mortgage arm, the company's CFO said.

By Anna Hrushka • Oct. 17, 2019

PNC’s revenue is growing, but profits are flat amid expansion

The bank has expanded into 10 new cities, rolled out a digital retail bank last year and opened retail locations, or "solution centers," in Kansas City, Missouri, and the Dallas area.

By Anna Hrushka • Oct. 17, 2019

Bank of America prioritized internal cloud. Now it's evaluating third-party providers

"We don't need to own the hardware, we just need to find out who can provide the right way," said CEO Brian Moynihan.

By Naomi Eide • Oct. 17, 2019

11% boost in North America card revenue buoys Citi's earnings

The card segment's growth stands as somewhat of a relief after the bank lowered its expectations on net interest income. Expenses also are up slightly as the company continues to cut jobs.

By Dan Ennis • Oct. 16, 2019