Commercial: Page 2


  • Customers Bank to pay KServicing $58M over PPP dispute

    Under the settlement, the bank will pay the bankrupt small-business loan servicer $23 million and forfeit nearly $35 million in servicing and referral fees KServicing withheld as part of a PPP loan contractual dispute.

    By Nov. 1, 2022
  • U.S. Bank
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    Permission granted by U.S. Bank

    U.S. Bank data breach impacts 11K customers

    A third-party vendor accidentally shared the names, addresses, Social Security numbers, birthdays, closed account numbers and outstanding balances of about 11,000 customers, the bank said.

    By Oct. 31, 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
  • Wall Street
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    Spencer Platt via Getty Images

    Wall Street’s pre-pandemic boom has ended, NY comptroller says

    An annual New York City securities industry report predicts a 22% drop from 2021’s record-high compensation packages.

    By Oct. 28, 2022
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    gradyreese via Getty Images

    Flagstar, NYCB extend looming deadline upon OCC approval

    The combination will create an $88.4 billion-asset bank with a 395-branch footprint across nine states, so long as a green light from the Fed comes in time.

    By Oct. 28, 2022
  • The Credit Suisse logo on a building front
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    Dan Kitwood via Getty Images

    Credit Suisse to trim 9K jobs, break up investment bank

    The Swiss bank is spinning off its capital markets and advisory units under a revived CS First Boston banner. It also announced plans to raise $4 billion — including $1.5 billion from the Saudi National Bank.

    By Oct. 27, 2022
  • A round sign features HSBC's lettering and logo.
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    Matt Cardy/Getty via Getty Images

    HSBC ousts CFO, appoints new one

    New CFO Georges Elhedery, formerly the bank's co-CEO of global banking and markets, returned from a six-month sabbatical in September. Outgoing CFO Ewen Stevenson will step down Dec. 31.

    By Oct. 25, 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

    Peoples Bank to nearly double Kentucky footprint in $208.2M acquisition

    Buying Louisville-based Limestone Bank will give the Ohio lender an added $1.5 billion in assets, $1.1 billion in loans and $1.2 billion in deposits. The transaction is set to close in the second quarter of 2023.

    By Oct. 25, 2022
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    ipopba via Getty Images
    Deep Dive

    Banking-as-a-service grows as regulators play catch-up

    The BaaS space is expected to reach $74.55 billion by 2030, and has emerged as an enticing revenue stream for community banks. Meanwhile, the OCC has hinted more regulation is forthcoming.

    By Oct. 25, 2022
  • The Credit Suisse logo on a building front
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    Dan Kitwood via Getty Images

    Credit Suisse chief compliance officer set to exit

    Rafael Lopez Lorenzo's departure is not related to the bank's upcoming revamp, sources told Bloomberg. He served for more than a year in a role that once also encompassed overseeing risk at the bank.

    By Oct. 24, 2022
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    Mark Wilson via Getty Images

    Capital One looks to revamp airport lounge experience

    The bank partnered with Washington-area chef José Andrés to design a menu that focuses on tapas in spaces located a short distance from departure gates at two major U.S. airports.

    By Oct. 21, 2022
  • Exterior of the Federal Reserve building in Washington, D.C.
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    Anna Hrushka/Banking Dive

    Fed disputes allegations of favoritism over BNY Mellon crypto move

    The central bank asserts Custodia’s complaint ignores "substantial differences" between the two banks’ business models.

    By Oct. 21, 2022
  • Ken Paxton giving a speech with both of his hands raised in front of his chest
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    Brandon Bell/Getty Images via Getty Images

    14 Republican AGs probe 6 big banks’ climate pledges

    The banks’ involvement in the Net-Zero Banking Alliance will prevent farmers from getting loans, Missouri Attorney General Eric Schmitt said.

    By Oct. 20, 2022
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    Column

    What Q3 earnings taught us about layoffs, M&A and other costs

    All but one of the nation's six largest banks reported higher headcounts despite job-cut anticipation. State Street flagged concern over its BBH deal. And Truist decried “other” expenses.

    By Oct. 20, 2022
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    Michael Nagle via Getty Images

    JPMorgan taps ex-Celsius exec for crypto legal post

    The bank appears to be expanding its digital assets legal team despite CEO Jamie Dimon’s well-known skepticism. Aaron Iovine began the year at Cross River Bank before an eight-month stint at Celsius.

    By Oct. 19, 2022
  • The Credit Suisse logo on a building front
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    Dan Kitwood via Getty Images

    Whither the investment-banking chief?

    Longtime executives at Credit Suisse and JPMorgan Chase are expected to leave their respective companies in the coming months.

    By Oct. 18, 2022
  • Goldman Sachs CEO David Solomon appears onstage.
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    Paul Morigi via Getty Images

    Goldman Sachs overhaul splits Marcus

    The platform’s consumer-focused operations will fall under a newly combined asset- and wealth-management unit. Meanwhile, a corporate-client-centric Marcus unit will become a stand-alone entity.

    By Oct. 17, 2022
  • Bank sign
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    Courtesy of U.S. Bank

    Regulators approve U.S. Bank-MUFG Union merger

    The green light came as the Fed proposed requiring banks with $250 billion to $700 billion in assets to carry long-term debt that could be converted into equity in the event of failure.

    By Oct. 14, 2022
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    Alex Wroblewski via Getty Images

    Jamie Dimon isn’t the only bank CEO expecting a recession: KPMG

    Some 85% of bank chiefs believe the U.S. is headed for recession in the next 12 months, the accounting giant found in its annual CEO outlook. Nearly half see layoffs in the next six months.

    By Oct. 13, 2022
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    Courtesy of U.S. Bank

    U.S. Bank, MUFG Union sell 3 California branches to HomeStreet Bank

    Seattle-based HomeStreet will gain roughly $490 million in deposits, $22 million in loans and 16,000 new customer relationships in the deal. The bank also pledged to retain all employees in those branches.

    By Oct. 13, 2022
  • Woman stands under TD Bank sign.
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    Drew Angerer via Getty Images

    TD’s postal partnership in Canada turns an eye toward US efforts

    The bank launched a small-dollar lending product Wednesday aimed at rural, remote and Indigenous Canadians. But a U.S. Postal Service pilot last year generated just six customers.

    By Oct. 13, 2022
  • houston texas skyline with traffic on highway
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    Justin Sullivan via Getty Images

    Prosperity Bank to acquire two Texas community banks for $570M

    The Houston-based lender announced a plan to expand in west Texas less than a month after settling with the Justice Department in a PPP case.

    By Oct. 12, 2022
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    Courtesy of State Street

    State Street taps Wells vet to lead compliance as BBH deal hits crunch time

    The bank has floated several modifications to its pending $3.5 billion acquisition of a Brown Brothers Harriman unit in an effort to gain regulatory approval by year's end.

    By Oct. 12, 2022
  • A stock ticker scrolls behind a Goldman Sachs banner at the stock exchange
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    Chris Hondros via Getty Images

    Goldman Sachs to pare back consumer ambitions: report

    The investment bank’s pivot could usher in a potential reorganization of Goldman’s business lines, its third in four years, and comes amid regulator scrutiny of the bank’s consumer-focused products.

    By Oct. 10, 2022
  • A bird's eye view of Bank of the West's disappearing billboard drawn in the sand
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    Courtesy of Bank of the West

    Disappearing sand billboard pushes Bank of the West’s climate message

    The San Francisco-based lender partnered with a nonprofit on a kelp forest-focused campaign meant to be washed away on the day it was created.

    By Oct. 10, 2022
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    Davis Turner/Stringer via Getty Images

    Bank of America to pay $1.84B to settle last Countrywide case

    The bank will incur a $354 million third-quarter pretax expense from the settlement, to be reported at earnings Oct. 17.

    By Oct. 7, 2022