Retail


  • Wells Fargo CEO Charlie Scharf
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    Wells Fargo cites customer movement as net interest income drops

    The bank looked for a boost from higher fees in investment banking as it aims to reduce its reliance on net interest income.

    By July 12, 2024
  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Column

    Dive Deposits: It was Citi’s week and, arguably, everybody won

    The bank shook off fresh penalties by reporting skyrocketing revenue in its banking unit. It’s no wonder Citi granted $41 million to its banking chief. But a rival for that job may be glad he left.

    By July 12, 2024
  • Trendline

    Customer service

    Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.

    By Banking Dive staff
  • RBC shakes up C-suite, splits personal and commercial banking

    A spate of moves appears to elevate Neil McLaughlin as a contender to succeed Dave McKay as CEO, but that transition may not be soon. The bank did not disclose the future of its still-interim CFO.

    By July 11, 2024
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    FDIC downgrades Forbright Bank’s CRA score

    The demerit stems from a relationship the bank had with a third party that ended more than two years ago, a source familiar with the evaluation said.

    By July 9, 2024
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    Q&A

    Jenius Bank’s ‘special sauce’: Keeping it simple, with a little parent company help

    In just a year, the digitally native bank has surpassed $1 billion in deposits and $900 million in personal loans.

    By July 3, 2024
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    Indiana’s United Fidelity Bank hit with Fed order

    The move follows an enforcement action the Office of the Comptroller of the Currency issued in October to address capital planning, risk management and contingency funding, among other issues.

    By June 26, 2024
  • A city skyline behind a waterway lined by trees. A boat is in the waterway.
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    Riverview Bank taps M&A expert as next CEO

    Nicole Sherman has led 10 mergers in her career. She will replace acting head Dan Cox, who took over in September, when former CEO Kevin Lycklama was fired.

    By June 24, 2024
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    Thrivent receives ILC charter

    Following its approval for deposit insurance, the financial services company plans to convert Thrivent Federal Credit Union into online-only Thrivent Bank.

    By June 24, 2024
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    Gemini to settle with NY AG for $50M

    The $50 million in digital assets will go directly to investors of its defunct Gemini Earn program, who will be made whole, according to the settlement.

    By June 17, 2024
  • New Jersey Governor Chris Christie at a podium
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    Provident Bank to close 22 branches in New Jersey

    Provident, whose merger with in-state peer Lakeland Bancorp closed last month, has decided to shutter branches due to overlapping proximity, the lender announced recently. 

    By June 14, 2024
  • A Citi bank branch is shown, as a person walks by. Window signs advertise the bank's offerings.
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    Spencer Platt / Staff via Getty Images
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    Citi’s Sieg charts strategy to grow wealth business

    Amid Citi’s massive reorganization, there have been “very few” regretted departures, the bank’s head of wealth said Wednesday. He also suggested more key leadership hires are yet to come.

    By June 13, 2024
  • J.P. Morgan's Fourth Quarter Income Drops Over 30 Percent
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    JPMorgan names firmwide CTO

    Former PayPal technology chief Sri Shivananda brings with him an “exceptional track record in innovation and technology leadership,” JPMorgan Chase's CIO Lori Beer said in a memo.

    By June 11, 2024
  • Four people walk by a TD bank branch location
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    TD faces $4.9B proposed class action

    Canada’s second largest lender has been awash with anti-money laundering woes, with allegations based in multiple states. The bank set aside $450 million in April and overhauled its AML program.

    By June 7, 2024
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    Judge denies Frank execs’ motions to dismiss fraud charges

    Charlie Javice and Olivier Amar sought to have the charges against them dismissed due to their indictments’ “lack of specificity.” They were unsuccessful.

    By June 5, 2024
  • TD Bank at One Vanderbilt
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    Florida TD employee accused of taking bribes in new AML case

    The employee, who has since been fired, allegedly took $200 bribes from a Colombian national and allowed the transfer of millions of dollars from the U.S. to Colombia, court documents show.

    By June 4, 2024
  • The Goldman Sachs logo is seen on at the New York Stock Exchange on September 13, 2022 in New York City.
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    Michael M. Santiago / Staff via Getty Images
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    Goldman considering bonuses for private bank referrals: report

    Executives are considering relying on a formula to calculate bonus pay for investment bankers who refer clients to Goldman's private bank, sources told the Financial Times.

    By June 3, 2024
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    Supreme Court remands BofA escrow dispute to appeals court

    The nation’s highest court said the lower court "did not conduct the kind of nuanced comparative analysis" required by federal law and a previous Supreme Court ruling.

    By May 31, 2024
  • Bill Rogers, wearing a blue suit jacket, speaks during a Congressional hearing, with a screen behind him
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    Truist CEO on cost cuts: We needed ‘a shock to the system’

    Bill Rogers detailed the "discipline," "intensity" and fresh mindset the bank has adopted eight months after launching an effort to "reorient" itself.

    By May 31, 2024
  • Senator Ron Johnson speaking behind a dais.
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    Zelle faces Senate probe on fraud

    “The scale of fraud on the Zelle platform is unacceptably high,” National Consumers League Vice President John Breyault said.

    By James Pothen • May 31, 2024
  • The Goldman Sachs logo is seen on at the New York Stock Exchange on September 13, 2022 in New York City.
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    Michael M. Santiago / Staff via Getty Images
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    Goldman alum Esposito lands at Citadel Securities

    The 28-year Goldman vet will take on a new role as president at the market maker. He'll join in September and be responsible for growing client and partner relationships.

    By May 31, 2024
  • JPMorgan Chase CEO Jamie Dimon
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    Dimon: ‘No magic formula’ on CEO, chairman moves

    The JPMorgan CEO largely pinned his future timeline on the board Wednesday during a conference appearance, while Wells Fargo CEO Charlie Scharf detailed his investment-banking growth strategy.

    By May 29, 2024
  • wichita along arkansas river
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    The image by Wichita Regional Chamber of Commerce is licensed under CC BY 2.0
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    Ex-Heartland Tri-State CEO pleads guilty to embezzling $47M in crypto

    Shan Hanes also stole money from his church and a local investment club, according to court documents. Both have since disbanded. He faces 30 years in prison.

    By May 29, 2024
  • Four people walk by a TD bank branch location
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    TD CEO: Spending on AML remediation could extend into 2025

    TD’s Bharat Masrani declined to say whether the Canadian lender expects closure this year on investigations into the bank’s AML program, citing ongoing conversations with regulators and the DOJ.

    By May 23, 2024
  • SouthState to acquire Independent Bank in $2B deal

    The transaction, expected to close in the first quarter of 2025, is set to expand SouthState’s footprint in Texas and Colorado.

    By May 21, 2024
  • Amrita Ahuja
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    Sorry, Cash App. Gen Z still wants bank branches.

    Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.

    By James Pothen • May 21, 2024