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    Barclays rolls out reorganization, eyes £10B in shareholder returns

    The U.K. bank launched a long-awaited three-year plan Tuesday to split itself into five divisions and cut £2 billion in costs.

    By Ken McCarthy • Feb. 20, 2024
  • JPMorgan Chase sign in front of building in street level view.
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    JPMorgan to pay nearly $350M over trade reporting errors

    The lender has agreed to pay the penalty to two U.S. regulators and is in “advanced negotiations” with a third, JPMorgan said in a filing Friday.

    By Feb. 20, 2024
  • Trendline

    Customer service

    Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.

    By Banking Dive staff
  • Goldman Sachs CEO David Solomon appears onstage.
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    Goldman boosts David Solomon’s pay 24% to $31M

    The bank rewarded its CEO for leading a retreat from consumer lending, despite a 24% dip in net income on the year. The package likely makes Solomon the U.S.'s third-best-paid bank CEO.

    By Feb. 20, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Capital One to acquire Discover in $35.3B deal

    The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.

    By Feb. 20, 2024
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    Courtesy of The Howard Hughes Corp.
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    Column

    Dive Deposits: Regulators, bankers talk about NYCB without saying its name

    The Fed's vice chair for supervision pledged more scrutiny of CRE portfolios and a closer look when banks cross a certain asset threshold.

    By Feb. 16, 2024
  • A view of the Marriner S. Eccles Federal Reserve building.
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    Anna Moneymaker via Getty Images
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    Fed unveils 2024 stress test scenarios

    The results of the stress test, which will include 32 banks instead of 23 compared to last year, are expected to be out in June, the Federal Reserve said. 

    By Ken McCarthy • Feb. 16, 2024
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    Wells Fargo fake-accounts consent order lifted by OCC

    The Office of the Comptroller of the Currency said the bank’s “safety and soundness” and its compliance with regulations have prompted the agency to terminate the 2016 consent order.

    By Feb. 16, 2024
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    Deutsche Bank ups its in-office work requirements

    Managers will be required to work in the office four days a week, and others will be required to be present three days a week, starting in June.

    By Feb. 16, 2024
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    HTLF sheds its Montana footprint

    The Denver-based institution sold six of its branches in Big Sky Country to Kalispell-based Glacier Bank and three others to Miles City-based Stockman Bank.

    By Ken McCarthy • Feb. 15, 2024
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    Citi to monitor how often private bankers make client calls: report

    The lender wants its private bankers to contact its clients at least once every 90 days and record in detail the conversations, the Financial Times reported Wednesday.

    By Feb. 15, 2024
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    Chris Hondros via Getty Images
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    Viva Wallet CEO sues JPMorgan, claiming bank is limiting growth

    Haris Karonis alleges JPMorgan, which owns 48.5% of Viva, is seizing on "perverse incentives" that allow the bank to take full control of the fintech if its value falls below €5 billion next year.

    By Feb. 15, 2024
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    PNC wants to open 100 new branches by 2028

    The bank pledged to invest roughly $1 billion to open locations in cities such as Dallas, Denver and Houston, and to renovate existing branches.

    By Feb. 14, 2024
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    Davis Turner/Stringer via Getty Images
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    Bank of America customer data exposed in IT provider breach

    A threat actor compromised Infosys McCamish Systems in November, affecting more than 57,000 Bank of America customers.

    By Feb. 13, 2024
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    Citi faces rebukes, new orders from regulators: report

    The Federal Reserve sent three notices late last year instructing the lender to improve its data and governance, Reuters reported.

    By Feb. 12, 2024
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    Oli Scarff via Getty Images
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    Barclays ceases direct funding of new fossil fuel projects

    The London-based bank will also require all of its portfolio energy companies to report their scoped emissions reductions targets and any expansion plans by Jan. 1, 2025.

    By Lamar Johnson • Feb. 12, 2024
  • The Wall Street sign in the Financial District of Lower Manhattan in New York City.
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    hapabapa via Getty Images
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    NYCB insiders bought 200K shares. Is this the show of confidence the bank needs?

    One analyst highlights the bank’s willingness to “eat their own cooking.” But others have their eye on commercial real estate, NYCB’s rapid growth and a tinge of Signature deja vu.

    By Feb. 12, 2024
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    HSBC CEO knew of a plan to poach SVB bankers, First Citizens alleges

    First Citizens filed an amended complaint in federal court Wednesday, in line with a judge's order last month to "clean up" its initial $1.2 billion lawsuit.

    By Feb. 9, 2024
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    Permission granted by Citizens Financial Group
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    Citizens taps JPMorgan vets to lead private bank

    The Rhode Island-based lender opened its first private banking office in Boston and said it plans to open offices in Palm Beach, Florida, and Mill Valley, California, this year.

    By Feb. 9, 2024
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    Courtesy of The Howard Hughes Corp.
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    NYCB looks to trim its CRE exposure, but the market’s skeptical

    The bank's stock Wednesday repeatedly triggered circuit breakers meant to keep share value from falling too quickly. Despite executives' assurances, another ratings agency downgraded the stock.

    By Feb. 8, 2024
  • Treasury Secreatry Janet Yellen peers behind her glasses on Capitol Hill.
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    Chip Somodevilla via Getty Images
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    Yellen: CRE losses may leave banks ‘quite stressed’

    Bank regulators aim to avert turmoil caused by a slump in the value of commercial real estate, Treasury Secretary Janet Yellen said in testimony to a House committee Tuesday.

    By Jim Tyson • Feb. 7, 2024
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    NYCB enlists ex-Flagstar CEO after Moody’s downgrade

    The bank named Alessandro DiNello as executive chair Wednesday and issued updated deposit and liquidity statistics to reassure investors. But some have still filed suit.

    By Feb. 7, 2024
  • JPMorgan Chase sign in front of building in street level view.
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    Chris Hondros via Getty Images
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    JPMorgan wants to open 500 branches in next 3 years

    The bank is looking to expand in areas such as Boston, Charlotte, Minneapolis, Philadelphia and Washington D.C. — but aims to close another 30 First Republic locations.

    By Feb. 6, 2024
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    Courtesy of The Howard Hughes Corp.
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    NYCB’s risk chief left bank ahead of Q4 loss report, stock dip

    The bank’s announcement that it would set aside $552 million in loan-loss reserves and cut its dividend came amid pressure from the Office of the Comptroller of the Currency, Bloomberg reported.

    By Feb. 6, 2024
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    Truist sells asset-management arm in $70M deal

    Toronto-based Guardian Capital has agreed to buy Sterling Capital Management, which has roughly $76 billion in assets under management and advisement.

    By Feb. 5, 2024
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    Vast Bank discontinues crypto mobile app

    The Tulsa, Oklahoma-based lender told customers their digital assets would be liquidated and accounts would be closed. Customers will receive stranded assets via cashier’s check, the bank said.

    By Feb. 5, 2024