Utah Ponzi scheme case envelops bank executive

Bank of Utah’s vice president and senior trust officer knowingly disregarded fraudulent activity and divulged protected financial information, a lawsuit asserts.

Dive Deposits: This isn’t the year to gauge women’s progress in banking

JPMorgan's proxy statement is mum regarding the Piepszak-Lake race, but neither executive is the bank's best-paid woman. Meanwhile, the jury is out on Goldman and Citi.

Citi, TD, HSBC, Northern Trust added to West Virginia restricted list

The state warned the banks in February of consequences if they "boycott" fossil fuels. BMO and Fifth Third avoided being added to the list, the state said.

Varo’s new CFO aims for ‘path to profitability’

Zillow alum Allen Parker is focused on “ensuring finance can play a role in how we prioritize our investments,” he said.

RBC fires CFO, treasury exec over undisclosed relationship

Nadine Ahn had been seen as a potential future CEO candidate, sources told The Globe and Mail. RBC named Katherine Gibson its interim CFO while it searches for a successor.

Dimon blasts regulation, proxy advisers in annual letter

The JPMorgan Chase CEO also gave prominent space to AI, touting its potential impact in software engineering, customer service and operations, “as well as in general employee productivity."

Frost Bank faces proposed overdraft fee class action

Two plaintiffs filed a lawsuit last week accusing the Texas lender of having a “routine policy and practice of charging its customers Overdraft Fees on transactions that did not overdraw an account.”

Wyoming bank sheds fintech program

The Kansas City Fed hit Mode Eleven Bancorp with a cease-and-desist following an inspection in September.

RBC joins Citi, JPMorgan in disclosing green financing ratios

Shareholder proposals put forward by New York City’s retirement system have been pulled at all three banks, the city's comptroller, Brad Lander, said this week.

Cadence consolidates its executive circle

The bank's president is adding chief credit officer to his title, and the CFO will also oversee mortgage lending and wealth in a move to eliminate layers of management.

Navy Federal’s ‘community bank’ label draws ICBA rebuke

The trade group wants the FDIC and NCUA to issue cease-and-desist orders against the credit union's characterization of a co-branded program with the Defense Department.

Bowman, Chopra M&A comments put partisan divide on display

The Fed governor assailed what she called the FDIC's proposed "regulation by application," while the CFPB chief stressed how mergers should boost communities.

KeyBank, NCRC team up on $25M pledge

The NCRC and the bank will put $8.5 million each toward grants, down payment assistance, fee waivers, product and branch expansion, and marketing that addresses alleged mortgage lending issues.

Return-to-office delays burden regional bank real estate portfolios

“There's been a Frankenstein from the pandemic that's been created, and we don't know how to stop it,” Gregory Carlisle, a commercial market president at TD, said last week.

JPMorgan Chase to let brands target customers based on spending data

Chase Media Solutions connects customers to retail deals, tailored to their spending, directly through their bank app.

Citi asks judge to toss NY AG’s fraud reimbursement suit

The bank called Letitia James' lawsuit against the bank a "misguided attempt" to modify the Electronic Fund Transfer Act, when a different law covers wire transfers.

Old National puts CFO on leave after child molestation charges

The Evansville, Indiana-based bank named its chief strategy officer as interim CFO on Monday after Brendon Falconer was arrested last week.

Citi to lay off 430 NY-based workers in June

Among the hardest-hit units is technology, media and telecom, people familiar with the matter told Bloomberg.

Judge sides with Fed in Custodia master account ruling

Judge Scott Skavdahl said the Wyoming-based digital-asset bank failed to prove that the Fed’s board of governors had undue influence on the Kansas City Fed in its application denial.

Piermont, Sutton banks hit with FDIC consent orders over BaaS

The FDIC ordered Piermont to review all transactions since September 2022 to ensure all suspicious activity was reported. Sutton, meanwhile, must compile an inventory of its third-party relationships.

Texas federal judge blocks CRA revamp

A judge added that the Community Reinvestment Modernization Act, which was introduced four times in nine years, was not passed by the Congress.

Citi says 71% of energy clients lack substantive transition plan or ‘ability to execute’

The bank made the disclosure in its latest climate report in response to a proposal that had been issued by shareholder advocacy group As You Sow.

Citizens CEO knocks higher capital requirements

“The rest of the economy is saying this has to be rethought,” CEO Bruce Van Saun said, adding the increase could scuttle lending to entrepreneurs and less affluent borrowers.

Proxy advisers call Strike 2 on Goldman CEO Solomon

Glass Lewis and ISS each urged shareholders to vote to separate the bank's CEO and board chair roles. Glass Lewis also wants voters to reject Goldman's executive pay package.

Treasury Prime, Narmi partner to offer customers FedNow service

The partnership aims to simplify and accelerate the adoption of FedNow by small and medium-sized financial institutions in Treasury Prime’s network.