Commercial
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BB&T completes acquisition of SunTrust to form Truist
The deal marks the largest bank merger since the 2007-08 financial crisis.
By Anna Hrushka • Dec. 09, 2019 -
Dive Awards
Executive of the Year: Jamie Dimon, JPMorgan Chase
The nation's biggest bank has posted year-over-year profit gains in each of the past seven quarters under the longtime chief executive, and an ambitious $20 billion branch expansion plan could set it up for even more growth.
By Anna Hrushka • Dec. 09, 2019 -
Dive Awards
The Banking Dive Awards for 2019
From Jamie Dimon to Mastercard, these are the companies and executives that shaped banking this year.
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Banks don't need to file SARs when servicing hemp businesses, regulators say
The guidance comes as welcome news to hemp growers, banks and some lawmakers who have long called for clarification.
By Anna Hrushka • Dec. 03, 2019 -
Wells Fargo names Santander executive COO
Scott Powell, who is set to start at Wells Fargo on Dec. 9, will fill a position that has been vacant since Tim Sloan became the bank's CEO in October 2016.
By Anna Hrushka • Dec. 03, 2019 -
Bank branch closures leave deeper void in rural counties, Fed says
Most of the 39 rural counties that lost half or more of their bank branches from 2012 to 2017 have lower median incomes and a higher share of African-Americans, according to the report.
By Kate Patrick • Nov. 27, 2019 -
JPMorgan Chase files blockchain patent to track vehicle inventory
The technology is meant to prevent double flooring, which happens when a dealership pledges a vehicle as collateral in two separate contracts to different banks.
By Anna Hrushka • Nov. 26, 2019 -
Bank of America CEO: People still want regulation, security amid tech competition
"If you take deposits, make loans ... you end up with a lot of people's money," Moynihan says. "And if something goes kablooey, it's a problem."
By Anna Hrushka • Nov. 25, 2019 -
Fed, FDIC approve BB&T-SunTrust merger
The deal to create the sixth-largest U.S. bank is expected to close Dec. 6, but on several conditions: The Fed issued a consent order against SunTrust regarding "misleading or inaccurate statements" made to business customers from 2013 to 2017.
By Anna Hrushka • Nov. 19, 2019 -
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 -
Senate bill challenges industrial loan company 'loophole'
"If they're allowed to handle your banking services, they're going to turn into continents," said Sen. John Kennedy, R-LA. "The Rakutens and the Googles of the world shouldn't be able to circumvent the [Federal Reserve]."
By Anna Hrushka • Nov. 14, 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. 08, 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. 07, 2019 -
FDIC says hemp-banking interagency guidance coming within weeks
Agency Chair Jelena McWilliams told Banking Dive she has held meetings with various state officials, asking about applications and how hemp products would be regulated to ensure their THC level is below 0.3%.
By Anna Hrushka • Nov. 05, 2019 -
First Horizon to acquire Iberiabank in $3.9B all-stock deal
The "merger of equals" will let the banks make significant investments in technology, executives said Monday during a call with analysts.
By Anna Hrushka • Nov. 04, 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. 01, 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 -
BlueVine checking account targets small businesses
The fintech looks to "democratize" commercial banking when it rolls out the product early next year.
By Anna Hrushka • Oct. 28, 2019 -
Cannabis can be most transparent business to bank, Simplifya exec says
Banks entering the space can plumb a wealth of data, based on the number of fintechs that have sprung up to address the challenges associated with the industry, the company's chief compliance officer says.
By Anna Hrushka • Oct. 28, 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 -
Santander to roll out US online deposit platform next year
The Spanish bank wants to use favorable interest rates to help expand beyond its car-loan business. But having a physical presence in only nine states may challenge its growth potential.
By Dan Ennis • 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
