Wells Fargo names BNY Mellon's Charlie Scharf CEO

The appointment ends a six-month search that began after former CEO Tim Sloan resigned from the scandal-plagued bank in March.

By Anna Hrushka • Sept. 27, 2019

Women-focused de novo gets conditional approval from FDIC

First Women's Bank is targeting the 42% of all businesses that are women-owned, which generate $1.9 trillion in annual revenue, according to the bank.

By Anna Hrushka • Updated July 17, 2020

Explore the Trendline➔

M&A

President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.

By Banking Dive staff

House OKs landmark cannabis banking bill

If the Senate also passes the SAFE Banking Act, it would be a major win for the cannabis industry and banks that want a piece of a market that could grow to $41 billion by 2025, according to data firm Nielsen.

By Anna Hrushka • Sept. 26, 2019

Wells Fargo tests blockchain waters with internal settlement service

Wells Fargo's renewed interest in blockchain comes at a time when banks are still gauging the technology's benefits.

By Anna Hrushka • Sept. 17, 2019

Senate panel chairman eyes cannabis banking vote by year's end

Passage of legislation to protect banks that service marijuana-related businesses would be a major victory for the cannabis industry, which has remained largely cash-based over a lack of access to banking services.

By Anna Hrushka • Sept. 13, 2019

California lawmaker pulls cannabis banking bill ahead of vote

The state is expected to post $3.1 billion in licensed cannabis sales this year. But as long as pot remains a Schedule 1 drug under federal law, many banks are reluctant to accept those deposits.

By Anna Hrushka • Sept. 11, 2019

JPMorgan Chase's WePay launches same-day deposits

The free service gives Chase an edge on fintech competitors such as Stripe and Square, which both charge fees for faster processing.

By Anna Hrushka • Sept. 10, 2019

Wells Fargo launches food, beverage and agribusiness group

The launch comes at a time when the country’s largest banks are scaling back on their agricultural lending portfolios, a result of significant drops in farm income and the escalating U.S.-China trade war.

By Anna Hrushka • Sept. 9, 2019

BB&T, SunTrust branch sales could mark opportunity as merger nears

The banks have said the merger would result in 740 branches located within two miles of one another, a prospect that has drawn concern from lawmakers.

By Anna Hrushka • Sept. 6, 2019

TD Bank aims to help finance workers return from career breaks

The bank is set to kick off its first 16-week program in the New York City area in January 2020.

By Valerie Bolden-Barrett • Sept. 6, 2019

'Responsible' loans jump 40% as banks take green, social stances

Banks are rethinking their lending policies with regard to coal, carbon and private prisons as consumer desire for transparency grows.

By Anna Hrushka • Sept. 4, 2019

PNC launches on Ripple’s cross-border payments network

While Ripple already has a global portfolio of banks using the RippleNet network, the launch with PNC Bank marks a significant milestone for the cryptocurrency company.

By Anna Hrushka • Sept. 3, 2019

$35.3M credit union tops JPMorgan for medical marijuana banking contract

The competition came after banks on contract with West Virginia said they would not provide services related to pot sales even though the state passed the Medical Cannabis Act in 2017. Bidders can file protests until Sept. 3.

By Anna Hrushka • Aug. 29, 2019

6 questions with Trustar Bank CEO Shaza Andersen

Executive launched the Great Falls, Virginia-based community bank in July, after selling WashingtonFirst Bank to Sandy Spring Bank.

By Anna Hrushka • Aug. 29, 2019

Wells Fargo may want to consider changing name, image adviser says

Consumers gave the bank a 91% negative rating long after its fake-accounts scandal. Plummeting stocks, a lengthy CEO search and a "mea culpa" campaign aren't helping.

By Anna Hrushka • Aug. 22, 2019

5 regulators respond to request for hemp banking clarity

Although the production and sale of industrial hemp was legalized last year, financial institutions still question whether services can be extended to businesses associated with the product.

By Anna Hrushka • Aug. 15, 2019

Capital One's hacker breached more than 30 organizations, prosecutors say

The servers found in Paige Thompson's bedroom held data from the bank and other entities, though the data is not personally identifiable information.

By Samantha Schwartz • Aug. 15, 2019

Small-business lending study shows racial disparity

More than half of black sole proprietors who applied for financing received none, a New York Fed study found.

By Dan Ennis • Aug. 14, 2019

Big-bank leadership lacks diversity, House panel says

The boards of directors of the nation's largest banks are composed of only 29% women and 17% minorities despite a U.S. population that is more than 50% female and 40% nonwhite. 

By Anna Hrushka • Aug. 14, 2019

Schumer asks regulators for clarity on hemp banking

Senate minority leader's letter highlights how hemp growers are facing some of the same reluctance from financial institutions as pot-related businesses.

By Anna Hrushka • Aug. 13, 2019

Banks' use of social media matures, ABA finds

More than 80% of respondents said they "agree" or "strongly agree" that social media are important, up from 76% according to a parallel study the trade association conducted in 2016.

By Anna Hrushka • Aug. 9, 2019

Alaska credit union ends pot pilot after losing insurance coverage

Providing banking to MRBs may have been a "more reasonable prospect" if the burden of compliance was not so high, the credit union's CEO said.

By Anna Hrushka • Aug. 8, 2019

Community banks face risk amid escalating trade war

Tariffs will affect larger banks, but diversification will shield bigger financial institutions from the impact, an analyst said.

By Anna Hrushka • Aug. 2, 2019

Barclays drops private prisons as more banks weigh reputational risks

The announcement follows in the footsteps of other large financial institutions turning away from the industry, as more banks make business decisions related to social issues.

By Anna Hrushka • Aug. 1, 2019

Citigroup to cut hundreds of jobs, reports say

The news of job cuts follows reports Citigroup will combine its stock trading business with its prime brokerage unit. A source, however, told the Financial Times the cuts are not related to the bank’s reorganization plans.

By Anna Hrushka • July 30, 2019