Banking events for the 2023-24 conference season

It’s time to plan for the rest of this year and beyond. Banking Dive has you covered with a running list of industry conferences, expos and meetings.

By Dan Ennis • Sept. 29, 2023

Citi to sell China retail-wealth business to HSBC: reports

The deal would mark the latest iteration of Citi’s steps to withdraw from consumer franchises across the globe. HSBC, meanwhile, has pledged to build out its Asian wealth business over the next five years.

By Anna Hrushka • Sept. 28, 2023

Explore the Trendline➔

Mobile banking trends

Whether referring to niches or marketwide adoption, any discussion of mobile banking today can focus on the narrowing of gaps.

By Banking Dive staff

BNP Paribas tracking London office badge swipes: report

"Many of our competitors have already implemented similar measures,” the bank said in a memo to BNP employees, according to Reuters.

By Gabrielle Saulsbery • Sept. 28, 2023

DOJ probes UBS, Credit Suisse over sanctions breaches

Credit Suisse’s alleged compliance issues may have caused some Russian clients to avoid sanctions, resulting in a Department of Justice investigation, Bloomberg reported.

By Gabrielle Saulsbery • Sept. 27, 2023

Chase digital bank to ban crypto payments for UK customers

“If we think you're making a payment related to crypto assets, we'll decline it,” Chase U.K. told customers in an email reported by CoinDesk.

By Gabrielle Saulsbery • Sept. 26, 2023

Does ‘Get on board ... or get off’ mean the death of ‘soft skills Citi’?

CEO Jane Fraser's blunt comments earned her a comparison to Jamie Dimon. But those who see this as a 180 from the bank that championed flex work may have forgotten Citi's COVID vaccine stance. 

By Dan Ennis • Sept. 25, 2023

Varo aims to displace Venmo, Cash App volume with new P2P feature

The bank on Thursday launched a feature enabling Varo account holders to instantly transfer funds at no cost to anyone with a U.S. debit card.

By Anna Hrushka • Sept. 21, 2023

Bank of America boosts minimum hourly wage to $23

If the bank reaches its target of paying $25 per hour to its lowest-earning employees by 2025, it will have raised its minimum wage by 121% since 2010, it said.

By Rajashree Chakravarty • Sept. 21, 2023

Bank of Utah faces embezzlement lawsuit

Clients of Stephen Swensen, a once-respected financial adviser accused of swindling $29 million, named the bank in a lawsuit and claimed it was aware of a years-long Ponzi scheme uncovered by the SEC.

By Gabrielle Saulsbery • Sept. 21, 2023

Goldman in advanced talks to sell GreenSky: reports

The group of potential buyers includes investment firms Sixth Street, Pimco and KKR, according to The Wall Street Journal. A deal would be worth roughly $500 million, the outlet’s sources said.

By Dan Ennis • Sept. 20, 2023

Eastern Bank to buy Cambridge Bancorp for $528M

The merger will create a $27.1 billion combined company, without Eastern’s insurance operations, which will be sold to global insurance brokerage firm Arthur J. Gallagher & Co. for $510 million.

By Gabrielle Saulsbery • Sept. 20, 2023

Rakuten withdraws bid for NCUA charter

The Japanese e-commerce firm previously tried three times to gain a charter via an industrial loan company application, only to withdraw each bid months later.

By Anna Hrushka • Sept. 19, 2023

Santander retools its structure

The bank is consolidating its retail and commercial business into a new global unit and creating a global digital consumer banking division in a move meant to enhance profitability.

By Dan Ennis • Sept. 19, 2023

BMO winding down indirect auto loans

The move by the Canadian lender appears to be on-trend, with other lenders also stepping away from their indirect auto loan businesses in a challenging market.

By Gabrielle Saulsbery • Sept. 18, 2023

Wells Fargo ex-exec Tolstedt avoids prison time

A federal judge sentenced the former retail-banking chief to six months of home confinement and three years of probation for her role in connection with the bank's 2016 fake-accounts scandal.

By Dan Ennis • Sept. 15, 2023

No buyer for Laurentian Bank after strategic review

Canada's ninth-largest bank will instead increase its "focus on efficiency and simplification."

By Gabrielle Saulsbery • Sept. 15, 2023

USAA poised to offer no-interest loans as government shutdown looms

USAA said the loans are aimed at assisting customers who are likely to experience a paycheck disruption in the event of a government shutdown.

By Anna Hrushka • Sept. 15, 2023

Citi reboots its management chain

The bank scrapped a structure that split its business between two units, opting instead for five unit chiefs reporting directly to CEO Jane Fraser.

By Dan Ennis • Sept. 13, 2023

Citizens to launch private bank

The Providence, Rhode Island-based lender has gravitated toward the wealthy in recent years, with wealth management acquisitions in 2018 and 2022. Its own full-service private bank is planned for Q4.

By Gabrielle Saulsbery • Sept. 12, 2023

Truist plans ‘sizable reductions’ in jobs, unveils $750M in cost savings

The bank wants to save $200 million by 2025 through reducing tech spend. It also plans to consolidate certain business lines, scale back its brick-and-mortar presence and cut four division heads by next quarter.

By Anna Hrushka • Sept. 12, 2023

Ripple makes its 2nd acquisition of 2023

The crypto firm on Friday agreed to buy Fortress Trust, a regulatory and technology infrastructure provider for blockchain companies. Ripple in May bought crypto custody company Metaco.

By Gabrielle Saulsbery • Sept. 11, 2023

Barclays set to cut hundreds in two-pronged effort: reports

The bank will trim roughly 450 roles in its U.K. retail unit, a labor union said. Barclays could also dismiss up to 5% of client-facing staff in its trading division, according to Bloomberg.

By Dan Ennis • Sept. 11, 2023

Goldman may cut 450 or more employees in October: report

Managers across the bank have drafted lists of bottom performers in preparation for a cut of between 1% and 5% of workers, sources told the Financial Times, but numbers are not final.

By Dan Ennis • Sept. 8, 2023

First Citizens folds SVB Private into wealth-management unit

Michael Wilson, who has led First Citizens Wealth for the past decade, will take over SVB Private, the private-banking and wealth-management unit that once belonged to the failed Silicon Valley Bank.

By Anna Hrushka • Sept. 8, 2023

Goldman’s strategy retreat leaves GreenSky in limbo

The installment-lending fintech, which Goldman is looking to sell, faces an uncertain future as the investment bank distances itself from an ambitious retail strategy.

By Anna Hrushka • Sept. 7, 2023