Commercial: Page 2

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    Justin Sullivan / Staff via Getty Images

    Bank of America boosts minimum wage to $22 per hour

    The pay raise, coming seven months after a previous $1-per-hour boost, is the latest step in the bank's target to pay employees at least $25 per hour by 2025.

    By May 23, 2022
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    Mark Wilson via Getty Images

    Capital One sets date for hybrid return to office

    The McLean, Virginia-based bank committed to a hybrid work model that would encourage, but not require, employees to work in the office Tuesday through Thursday beginning in the fall.

    By May 19, 2022
  • Explore the Trendline
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    Mark Wilson via Getty Images

    Business banking

    Selling banking and payments solutions to small and medium-sized businesses has become a lucrative prospect for fintechs and banks alike.

    By Banking Dive staff
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    Haugland Bowen, Katie. (2014). "Houston Skyline" [Photograph]. Retrieved from Flickr.

    Women-owned de novo to open in Houston after pandemic-related delays

    Agility Bank filed paperwork with the FDIC in April 2020, with initial plans to open by the end of that year, but the pandemic altered the bank’s opening timeline, CEO Lauren Sparks said.

    By May 18, 2022
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    The image by Ted Eytan is licensed under CC BY-SA 2.0

    CFPB carves out new competition angle for oversight

    A former CFPB enforcement director told an audience of payments professionals this week that they'd best be prepared for the agency to expand its oversight by way of its markets authority.

    By Lynne Marek • May 18, 2022
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    Courtesy of Wells Fargo multimedia resources

    Wells Fargo taps former JPMorgan exec to head financial advisory unit

    The firm selected Sol Gindi, a former C-suite executive for JPMorgan's wealth management and consumer banking businesses, to replace Jim Hays as the head of Wells Fargo Advisors.

    By May 17, 2022
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    FG Trade via Getty Images

    AmEx, Discover get top marks in direct banks survey

    The No. 3 and No. 4 card companies, which also hold bank licenses, scored highly in customer satisfaction among online-only banks, J.D. Power found.

    By Caitlin Mullen • May 16, 2022
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    H. Armstrong Roberts via Getty Images

    Michigan credit union to buy Florida bank in 7th such deal of 2022

    DFCU Financial's acquisition of First Citrus Bank, estimated at $105 million, would mark the second time since June 2021 that a credit union from the Wolverine State has bought a bank based in Tampa.

    By May 13, 2022
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    Permission granted by U.S. Bank

    U.S. Bank lays out $100B community benefits plan tied to merger

    U.S. Bank agreed to increase mortgage lending by 20% nationally and by 30% to nonwhite and LMI borrowers in California. The bank also must analyze demographics and consider community input before closing LMI-area branches.

    By May 10, 2022
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    Courtesy of KeyBank

    KeyBank buys student loan forgiveness fintech

    Financial terms of the GradFin purchase were not disclosed, but the business dovetails with the bank's previous acquisition and tailoring of Laurel Road.

    By May 10, 2022
  • Wall Street bonuses could crater up to 40% this year

    Investment banking underwriters' bonuses could fall up to 40% from 2021, according to pay consultancy Johnson Associates. Fixed-income traders, however, could see bonuses jump 20%, the company said.

    By May 6, 2022
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    Drew Angerer via Getty Images

    Bank of America, JPMorgan, Goldman consider abortion travel policies

    "With all things like this, we look at what our team needs from us," Bank of America CEO Brian Moynihan told CBS. A leaked Supreme Court draft opinion ignited a political firestorm tied to the possible overturn of Roe v. Wade.

    By May 6, 2022
  • Deep Dive

    PPP 2 years later: Analyzing the legacy and impact of the $800B government relief program

    Lenders and banking industry experts reflect on the lessons learned from the government's small-business rescue program, and what lies ahead for its participants.

    By May 4, 2022
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    Permission granted by First Internet Bank

    First Century Bank scraps First Internet deal

    The Federal Reserve signed off on the combination April 29, but the banks couldn't close the tie-up by an April 30 deadline because of statutory waiting periods, and could not agree on extension terms, First Internet said.

    By May 2, 2022
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    Permission granted by Frost Bank

    Frost Bank: 'Build over buy' expansion plan is paying off

    The San Antonio-based bank opened 25 branches in Houston over the past four years, and is in the midst of a similar expansion in Dallas, where next quarter it plans to open its third of 28 new locations.

    By April 29, 2022
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    Delmaine Donson via Getty Images

    Wisconsin credit union targets Illinois bank in 6th such tie-up of 2022

    Financial terms of CoVantage Credit Union's proposed acquisition of LincolnWay Community Bank were not disclosed. The deal is expected to close in the fourth quarter.

    By April 28, 2022
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    Zhanna Hapanovich via Getty Images

    Value, volume of banking M&A sees a Q1 chill

    KPMG, in a report, credited the lull to interest-rate uncertainty, war, COVID-19 and "deal fatigue" from a frenetic 2021. But the accounting giant said the pace of activity should pick up later this year.

    By April 26, 2022
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    "TD Bank" by Tdorante10 is licensed under CC BY-SA 4.0

    TD Bank targets South Florida tech talent pool

    The Toronto-based lender on Tuesday announced the launch of a hub in Fort Lauderdale, adding it intends to hire 200 tech workers in the area over the next two years.

    By April 26, 2022
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    Courtesy of Wells Fargo multimedia resources

    Wells Fargo starts layoffs in home lending unit

    The bank did not put a number to the job cuts. Wells Fargo saw a 33% year-over-year decrease in mortgage origination volume. Interest rates accompanying 30-year fixed mortgages have climbed to a 12-year high.

    By April 25, 2022
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    Permission granted by Office of the Comptroller of the Currency

    OCC orders crypto bank Anchorage to revamp AML program

    The regulator said the bank failed to implement internal controls for customer due diligence and procedures for monitoring suspicious activity. It also failed to hire a Bank Secrecy Act officer, the OCC said.

    By April 22, 2022
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    David McNew via Getty Images

    Bank of America wants its cards made of 80% recycled plastic by 2023

    The bank estimates it will produce 235 fewer tons of single-use plastics with the transition.

    By April 21, 2022
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    Patterson, Richard. Retrieved from Flickr.

    Banks face 'tight deadline' under new cyber notification rule

    The May 1 cutoff to comply with the rule comes as the Biden administration has warned U.S. businesses about the increasing risk of Russian cyberattacks.

    By April 21, 2022
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    Truist Financial

    Truist posts flat Q1 profit, completes transition to 'one brand'

    The bank completed its largest merger-related conversion during the quarter, transitioning nearly 7 million customers to the Truist ecosystem and rebranding more than 6,000 branches and ATMs, CEO Bill Rogers said Tuesday.

    By April 19, 2022
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    choness via Getty Images

    Interns see 37% pay bump at a number of top banks: data

    Interns at Citi, Bank of America, Goldman Sachs, Morgan Stanley and Capital One receive more than $8,000 a month, according to data from Wall Street Oasis and Glassdoor.

    By April 18, 2022
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    David McNew via Getty Images

    Bank of America sees 12% Q1 profit dip

    The bank, however, saw a 9.5% surge in equity trading revenue and set aside far less than its competitors — $30 million — to cover potential Russia exposure.

    By April 18, 2022
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    Permission granted by Citigroup

    Citi sets aside $1.9B to counter Russia exposure

    The bank said it now risks a $3 billion loss at most over its Russia entanglements. Profit at the third-largest U.S.-based lender dropped by 46% in the first quarter, Citi said Thursday.

    By April 14, 2022