Commercial


  • The Department of Justice in Washington, D.C.
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    Drew Angerer via Getty Images

    Lakeland Bank to pay $13M in DOJ redlining settlement

    The settlement comes one day after Provident Bank said it would acquire Lakeland in a $1.3 billion all-stock transaction. Provident disclosed Tuesday it was aware of the pending settlement when agreeing to the deal.

    By Sept. 29, 2022
  • the exterior of the federal reserve building in washington, dc
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    crbellette via Getty Images

    Digital banks, credit unions should factor into merger reviews: Fed’s Bowman

    Potential combinations should hinge on risk analysis, not deposit market share, in an update to 1995 guidelines, the central bank governor said Wednesday.

    By Sept. 29, 2022
  • Trendline

    Marketing trends

    Established and up-and-coming challengers show how they embrace new business silos such as cannabis, BaaS and the metaverse — or connect “ingredients” to stimulate growth.

    By Banking Dive staff
  • The concept of the word M&A on cubes on a beautiful green background. Business concept
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    Zhanna Hapanovich via Getty Images

    NJ’s Provident, Lakeland to merge in $1.3B deal

    The transaction, set to close in the second quarter of 2023, aims to give the Garden State a “super-community bank” at the $25 billion-asset level, filling a gap that opened when Citizens acquired Investors Bancorp.

    By Sept. 27, 2022
  • PNC Bank
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    "PNC" by ParentingPatch is licensed under CC BY-SA 3.0

    PNC buys restaurant point-of-sale firm Linga

    The Pittsburgh-based bank is boosting its payments footprint as banks from Banc of California to JPMorgan Chase are making similar large investments.

    By Sept. 27, 2022
  • A person holds a credit card in front of a laptop computer.
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    Poike via Getty Images

    Banc of California acquires Deepstack in payment processing play

    The acquisition gives the bank access to predictable fee income and enables it to capture a larger share of revenue per transaction, Banc of California said.

    By Sept. 26, 2022
  • The United States Capitol surrounded by trees
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    Megan Quinn/Banking Dive

    Diversity, inflation, payments fraud to take center stage at hearings

    Democratic lawmakers are expected to grill big-bank CEOs this week on reports of consumer abuses, while Republicans will likely target executives they say have caved to social pressures.

    By Sept. 20, 2022
  • A stock ticker scrolls behind a Goldman Sachs banner at the stock exchange
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    Chris Hondros via Getty Images
    Column

    Goldman grows where it can — but may have just started its cull

    The bank leans into an expansion in transaction banking and a new card partnership while cutting at least 25 bankers in Asia.

    By Sept. 20, 2022
  • The Capital One flag flies over its headquarters March 13, 2006 in Mclean, Virginia.
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    Mark Wilson via Getty Images

    OCC frees Capital One from consent order tied to 2019 breach

    The Office of the Comptroller of the Currency determined the bank had reached a level of “safety and soundness” no longer requiring extra oversight regarding a leak of 106 million customers’ data.

    By Sept. 19, 2022
  • A person uses a red Bank of America ATM.
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    David McNew via Getty Images

    Bank of America to offer paid sabbaticals starting next year

    Employees who have served 15 years at the bank can take four weeks, with an extra week for 20-year vets, and a sixth for those with 30.

    By Sept. 15, 2022
  • Uncut sheet of U.S. $100 bills
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    eranicle/iStock via Getty Images

    Texas bank settles with DOJ over PPP lending allegations

    In the first False Claims Act settlement by a Paycheck Protection Program lender, Houston-based Prosperity Bank will pay more than $18,000 to resolve allegations it knowingly processed a PPP loan for an ineligible business.

    By Sept. 15, 2022
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
    Column

    How big of a deal is Q2’s deposit decline?

    Deposits had seen an unsustainable 35% jump since 2020, and banks were pushing their capital limits. The real tell of consumer health from FDIC data may be a 25% spike in early delinquencies.

    By Sept. 15, 2022
  • Wells Fargo branch exterior
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    Courtesy of Wells Fargo multimedia resources

    Wells Fargo agrees to third-party racial-equity audit

    CEO Charlie Scharf called the move “a critical next step” toward closing the wealth gap, and added that diversity, equity and inclusion are “imperative” at the bank.

    By Sept. 14, 2022
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    Chris Hondros via Getty Images

    JPMorgan Chase raises specter of job cuts

    The bank’s president, Daniel Pinto, said he sees a 50% Q3 drop in investment-banking fees — and mentioned reduced compensation as an alternative to layoffs.

    By Sept. 14, 2022
  • Bank of America ATMs are seen in NYC.
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    Mario Tama via Getty Images

    BofA pledges $25M to support Black and Latino-led CDFIs

    “This collaboration demonstrates that opportunities and impact are literally doubled when we work together,” said Marla Bilonick, chair of the National Alliance of Latino CDFI Executives.

    By Sept. 9, 2022
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    Mario Tama via Getty Images

    Citi wins appeal on $500M Revlon loan blunder

    “Put simply, you don’t get to keep money sent to you by mistake unless you’re entitled to it anyway,” one judge wrote in his opinion.

    By Sept. 9, 2022
  • Michael Barr
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    Tasos Katopodis via Getty Images

    10 takeaways from Michael Barr’s first speech as Fed’s supervision czar

    The regulator pushed a tiered set of capital requirements and stricter living wills for regional banks. He also clarified the central bank’s stance on climate risk.

    By Sept. 8, 2022
  • People enter and exit UBS Bank in NYC.
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    Chris Hondros via Getty Images

    UBS, Wealthfront abandon $1.4B merger agreement

    UBS did not give a reason for the deal’s disintegration, but the Swiss bank gave Wealthfront $69.7 million in financing, and the companies are “continuing to explore ways to work together in a partnership.”

    By Sept. 6, 2022
  • Citi sign outside of skyscraper
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    Mario Tama via Getty Images

    Citi joins Wells Fargo in cutting mortgage-lending staff

    Citi's layoffs will number fewer than 100, while Wells, in the past two weeks, notified 75 Iowa-based workers they would be let go.

    By Sept. 6, 2022
  • The concept of the word M&A on cubes on a beautiful green background. Business concept
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    Zhanna Hapanovich via Getty Images
    Column

    Need to fill a C-suite void? Target banks that are being acquired

    First Republic and other banks looking to fill high-ranking roles hired executives from MUFG Union Bank, People's United and other institutions at the non-surviving end of a merger.

    By Sept. 1, 2022
  • Cash dollars lying on the ground
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    Rrraum via Getty Images

    Average overdraft fee falls nearly $4, to lowest level since 2009

    ATM fees, however, jumped to a three-year high of $4.66 per transaction, according to a Bankrate study, which also found users needed record or near-record-high balances to avoid monthly service charges.

    By Sept. 1, 2022
  • A person uses a red Bank of America ATM.
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    David McNew via Getty Images

    BofA, BMO push to close racial property ownership gap

    Bank of America launched a program offering a zero-down payment, zero-closing-cost mortgage solution to first-time homebuyers in nonwhite-majority areas, and another aimed at small businesses.

    By Aug. 31, 2022
  • Ford started resuming production and operations in the United States, May 18, 2020.
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    Courtesy of Ford Media Center

    Ford ILC application gets pushback from ICBA, consumer groups

    In a joint letter to the FDIC, four groups called the car maker’s bid to use the charter to promote the electrification of its vehicle fleet disingenuous, while the ICBA said the ILC charter exploits a regulatory loophole.

    By Aug. 30, 2022
  • Citi sign outside of skyscraper
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    Mario Tama via Getty Images

    Citi to wind down its Russia retail presence

    The bank expects to incur roughly $170 million in costs, mostly over the next 18 months, in a move expected to affect about 2,300 employees and 15 branches.

    By Aug. 25, 2022
  • A purple Truist sign sticks out of a building.
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    Permission granted by Truist

    Truist acquires data governance platform from Zaloni

    The platform’s founder and chief technology officer will be among 20 employees to transition to Truist as part of the deal, which highlights the bank’s continuing emphasis on nonbank and niche M&A.

    By Aug. 24, 2022
  • The Credit Suisse logo on a building front
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    Dan Kitwood via Getty Images

    Credit Suisse emerges as missing piece in neobank’s crumbled merger

    American Challenger sued the Swiss lender last month, accusing it of failing to conclude the sale of a $650 million commercial loan portfolio — a critical component in a tie-up with Patriot National Bank.

    By Aug. 22, 2022