Commercial: Page 2

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    Permission granted by Office of the Comptroller of the Currency

    OCC orders Chicago bank entangled in Manafort scandal to boost controls

    Federal Savings Bank must create a panel that will update the regulator monthly on the lender's efforts to improve risk management, anti-money laundering and consumer compliance standards.

    By Nov. 19, 2021
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    Permission granted by U.S. Bank

    U.S. Bank to buy travel and expense management fintech TravelBank

    After a yearlong partnership, the Minneapolis lender opted to buy the fintech outright, in a deal reportedly worth $200 million.

    By Nov. 17, 2021
  • Trendline

    Marketing trends

    Established and up-and-coming platforms show how they are pivoting to take on new business. Some are even dropping top marketing roles or well-known marketing tools.

    By Banking Dive staff
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    Mark Wilson via Getty Images

    Wall Street bankers, traders may see biggest bonus windfall since 2009

    A flurry of deals and a fertile crop of initial public offerings have translated to bigger workloads for bankers and mounting concerns that talent may leave if the price isn't right, a pay consultancy said Tuesday.

    By Nov. 16, 2021
  • Florida-based digital de novo gets FDIC approval

    Locality's goal is to fill the gaps in community banking, said CTO Corey LeBlanc, adding the bank looks at problem solving through a "first-principle lens."

    By Nov. 16, 2021
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    Connecticut bank, fintech merge with an eye toward digital national bank

    Stamford-based Patriot National Bank will pay $119 million to buy American Challenger Development Corp., a company that had been pursuing a de novo charter, in a deal announced Monday.

    By Nov. 15, 2021
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    Permission granted by BankMobile

    BM Technologies to buy Seattle community bank to 'accelerate earnings power'

    The $23 million deal, set to close in the second half of 2022, will allow BM Technologies to supplement fee-based income with net interest income, CEO Luvleen Sidhu said.

    By Nov. 15, 2021
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    Wikimedia Commons

    Dubai bank to pay $100M to NYDFS to settle Sudan sanction violations

    The regulator alleges Mashreqbank instructed its employees to omit certain details from SWIFT messages with other banks that could have linked roughly $6.5 billion in payments to the African nation.

    By Nov. 10, 2021
  • First Horizon poaches its next CFO from Truist

    First Horizon's CEO said Hope Dmuchowski's merger experience gives her a "unique understanding." Dmuchowski had worked at BB&T before the 2019 Truist merger. First Horizon last year merged with IberiaBank.

    By Nov. 10, 2021
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    Haugland Bowen, Katie. (2014). "Houston Skyline" [Photograph]. Retrieved from Flickr.

    Allegiance, CBTX eye merger to form $11B-asset bank

    The all-stock deal between the two largest community banks in Houston is expected to close in the second quarter of 2022, the banks said Monday.

    By Nov. 9, 2021
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    Michael Nagle via Getty Images

    Hiring tech talent a 'major priority' for Chase, CIO says

    As competition heats up in the hiring space, some large banks are leveraging flexibility in the form of hybrid work schedules and larger salaries.

    By Nov. 8, 2021
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    Stefani Reynolds / Stringer via Getty Images

    Trade group calls for Congress to ease restrictions on hiring ex-offenders

    The Bank Policy Institute wants Congress to clarify which people and jobs are covered under Section 19 of the Federal Deposit Insurance Act, which requires that ex-offenders receive FDIC approval to work at a bank.

    By Nov. 8, 2021
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    Chip Somodevilla via Getty Images

    Toomey cautions against proposal to regulate stablecoin issuers as banks

    "I think we have to really think long and hard before we put some onerous regulatory regime on a new technology," the Republican senator from Pennsylvania said.

    By Nov. 5, 2021
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    Permission granted by Jiko

    Digital bank Jiko accelerates banking-as-a-service strategy

    The Jiko app is still available for consumers to download, and the company plans to keep enhancing its features, but its main use will serve as a "showroom" for Jiko's technology, CEO Stephane Lintner said.

    By Nov. 4, 2021
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    Permission granted by First Internet Bank

    First Internet Bank to expand into payments with $80M First Century purchase

    First Internet CEO David Becker said the deal solidifies the bank's position as a "growth-oriented financial services company," and First Century’s payments business will be a key source of revenue going forward.

    By Nov. 3, 2021
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    Chris Hondros via Getty Images

    JPMorgan Chase, Bank of America, TD reign in small-business satisfaction: J.D. Power

    The nation's largest bank stood atop the West region for the ninth straight year — albeit in a tie with Bank of the West — the researcher found.

    By Nov. 1, 2021
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    Justin Sullivan via Getty Images

    Citi makes COVID-19 vaccine mandatory for 65,000 US employees

    In a LinkedIn post, the bank's HR chief cited compliance with a White House executive order. Employees who submit proof of vaccination by Dec. 8 will receive $200. Others have until Jan. 14 to get the jab, the bank said.

    By Oct. 29, 2021
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    Christopher Furlong via Getty Images

    Valley Bank unveils payments app for cannabis businesses

    Valley Bank is partnering with a large processor to offer the service, which is similar to using a reloadable Starbucks wallet gift card, Chief Digital Product Officer Stuart Cook said.

    By Oct. 27, 2021
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    Permission granted by Citigroup

    Citi agrees to undergo racial audit

    The bank joins institutions such as BlackRock and Morgan Stanley in agreeing to such a probe. Shareholders held off on the prospect of a racial audit in April, with the motion gaining 38% approval.

    By Oct. 25, 2021
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    Courtesy of Ally Financial

    Ally to return to credit cards with $750M deal to buy Fair Square Financial

    The deal is expected to close in early 2022. The Detroit lender abandoned credit cards in 2019 in favor of point-of-sale lending, then reneged on plans to merge with subprime card lender CardWorks last year.

    By Oct. 22, 2021
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    Permission granted by Vast Bank

    Vast Bank's new platform aims for the 'crypto curious'

    "Banks for centuries have been safe keepers and custodians of what people value," said CEO Brad Scrivner. "And in today's world, that's now digital assets."

    By Oct. 21, 2021
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    Permission granted by Office of the Comptroller of the Currency

    Biden's OCC pick faces a delicate balance among moderates

    Sen. Jon Tester, D-MT, said he would "hold off" expressing support "until after I meet with her." One attorney said the OCC pick should "balance mitigating risk with encouraging innovation."

    By Oct. 20, 2021
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    Chris Hondros via Getty Images

    Goldman Sachs, AmEx debut cloud-based payments service for corporate clients

    The investment bank is partnering with the world's largest card issuer for businesses in an effort to make payments easier and more efficient for institutional clients.

    By Oct. 20, 2021
  • Capital One to acquire healthcare investment bank TripleTree

    Capital One's latest move puts the $423 billion-asset bank in the company of several other lenders, including KeyBank and JPMorgan, which have made recent investments in the healthcare space.

    By Oct. 18, 2021
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    Luis Alvarez via Getty Images
    Sponsored by West Monroe

    Small businesses' trust in banks rose during COVID-19 — here's how they can keep it

    Banks earned the trust of small businesses amid the pandemic. We asked them how banks can keep it. Here's what they said

    Oct. 18, 2021
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    Truist Financial

    Truist nets $1.6B profit, marks major conversion milestone in Q3

    "We're committed to having a business that has positive operating leverage and has industry leading efficiency," new CEO Bill Rogers said Friday. "I feel more confident about that today than I did the day we announced the merger."

    By Oct. 15, 2021