Retail
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Justin Sullivan / Staff via Getty Images
Bank of America users report online access issues
Some customers said they were unable to sign in to their accounts. Others reported seeing incorrect or untimely balances. The issues “have largely been resolved,” the bank said Wednesday night.
By Dan Ennis • Oct. 3, 2024 -
Jonathan Drake/Reuters
Hurricane Helene aftermath prompts card, cash troubles
After the storm ripped through the southeastern U.S., consumers and merchants have been left grappling with card network outages and cash shortages.
By Lynne Marek • Oct. 3, 2024 -
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TrendlineTop 5 stories from Banking Dive
Everything old is new again. One year after Citi’s reorganization, progress comes in “fits and starts.” Meanwhile, a contentious proposed rule is generating “voluminous” feedback after 14 months.
By Banking Dive staff -
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2025 banking conference roundup
Gatherings can serve as idea generators, measuring sticks and connectors, as attendees meet to discuss innovations like AI, banking’s intersection with fintech and the future of capital requirements.
By Dan Ennis • Oct. 1, 2024 -
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Wells Fargo faces new class-action suit over cash sweeps
A lawsuit filed Tuesday accused the lender of underpaying interest “to enrich itself at its customers’ expense.”
By Rajashree Chakravarty • Sept. 26, 2024 -
Justin Sullivan / Staff via Getty Images
Bank of America adds family banking to give parents control of kids’ spending
The lender isn’t the first to launch such a product, as the opportunity to grow with Gen Z and Gen Alpha draws more players.
By Caitlin Mullen • Sept. 26, 2024 -
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NY credit union-bank tie-up pushes 2024 to brink of M&A record
Rochester-based ESL's proposed acquisition of Generations Bancorp is the 16th announced whole-bank purchase by a credit union this year, tying it with 2022.
By Rajashree Chakravarty • Sept. 24, 2024 -
Mario Tama via Getty Images
Bank of America on pace to open 165 branches by 2026
The lender’s expansion will include roughly 40 branch openings this year, including its first location in Louisville, Kentucky.
By Rajashree Chakravarty • Sept. 23, 2024 -
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Hawaiian bank rebuffs investor group’s acquisition offer
Territorial Bank is in the middle of an acquisition process by California’s Hope Bancorp. A recent offer by Blue Hill Advisors was unsolicited.
By Gabrielle Saulsbery • Sept. 23, 2024 -
ChrisBoswell via Getty Images
First Bank CEO: Small banks will need more deposits before lending can take off
If smaller banks aren’t able to attract more deposits, they may have to get comfortable with slower loan growth, the CEO of New Jersey’s First Bank suggested.
By Caitlin Mullen • Sept. 20, 2024 -
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OceanFirst to pay $15M in DOJ redlining settlement
The bank failed to provide mortgage lending services to predominantly nonwhite neighborhoods in three New Jersey counties, the agency said. The OCC downgraded the bank’s CRA rating in 2021.
By Dan Ennis • Sept. 19, 2024 -
Spencer Platt / Staff via Getty Images
TD CEO Bharat Masrani to retire in April
Raymond Chun, TD’s head of Canadian personal banking, will become the lender’s next CEO, as the bank works to resolve issues within its U.S. anti-money laundering program.
By Caitlin Mullen • Sept. 19, 2024 -
Kevin Dietsch / Staff via Getty Images
DOJ joins OCC, FDIC in updating bank merger guidelines
Regulators’ revamped guidelines increase the agencies’ discretion, which is likely to stoke industry uncertainty and, perhaps, extend the timeline to approval, analysts say.
By Caitlin Mullen • Sept. 18, 2024 -
Spencer Platt / Staff via Getty Images
KeyBank CFO eyes opportunities through Scotia deal
The two banks are exploring potential partnership opportunities – and their geographic footprints might allow a jumping-off point, KeyBank CFO Clark Khayat said last week at a conference.
By Caitlin Mullen • Sept. 16, 2024 -
Art Wager via Getty Images
EverBank to buy Michigan’s Sterling Bank for $261M
The deal includes 25 branches, $900 million in loans and $2 billion in deposits; but not Sterling’s sole Michigan branch or its $372.9 million portfolio of residential tenant-in-common mortgage loans.
By Gabrielle Saulsbery • Sept. 16, 2024 -
Courtesy of U.S. Bank
U.S. Bank reaches its proving ground
The super-regional is at an “inflection point” after recent acquisitions and tech updates, CEO Andy Cecere said at the bank’s investor day. One analyst, however, is calling for “a new set of eyes at the top.”
By Caitlin Mullen • Sept. 13, 2024 -
Douglas Rissing via Getty Images
9 crucial reactions to the capital requirements preview
BofA and JPMorgan execs talk death, despair and a lack of specifics, while lawmakers and regulators appear to fall along party lines in the snowballing fight over the Basel endgame.
By Dan Ennis • Sept. 11, 2024 -
Alex Wong / Staff via Getty Images
PNC’s Demchak wants to lean in to open banking for growth
The Pittsburgh-based lender’s CEO is wary of larger rivals building branches in every city but said he won’t pay “silly” M&A prices for a “busted” franchise.
By Caitlin Mullen • Sept. 10, 2024 -
Permission granted by Huntington Bank
Huntington wants to open 55 branches in Carolinas over 5 years
The Columbus, Ohio-based bank aims to add 350 employees and expand on a commercial-banking effort it launched in the two states last year.
By Caitlin Mullen • Sept. 9, 2024 -
Valerii Evlakhov via Getty Images
Old National names CFO amid predecessor’s child molestation case
Brendon Falconer, who was put on administrative leave, left the bank Aug. 31 with a $2.6 million payout. John Moran, the now-permanent CFO, has filled the post on an interim basis since April.
By Dan Ennis • Sept. 5, 2024 -
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Goldman to cut hundreds of jobs: reports
The staff reduction, tied to annual performance reviews, could affect between 1,300 and 1,800 employees, or 3% to 4% of the bank’s workforce, The Wall Street Journal reported Friday.
By Rajashree Chakravarty • Sept. 3, 2024 -
The image by Tyler Lahti is licensed under CC BY-SA 4.0
Truist approves $4.5M bonuses for CFO, top consumer banker
The stock awards were given “to support the retention of key leadership critical to taking full advantage of the business opportunities” created by the sale of Truist’s insurance arm, the bank said.
By Caitlin Mullen • Sept. 3, 2024 -
Truist’s premier banking head exits
Allison Robinson, a two-decade veteran of the bank, has served as head of branch and premier banking since last November.
By Rajashree Chakravarty • Aug. 28, 2024 -
Win McNamee / Staff via Getty Images
First Merchants exits Illinois retail banking with Old Second deal
Muncie, Indiana-based First Merchants is selling five Chicago-area branches to Aurora, Illinois-based Old Second, but will maintain a loan production office in the Windy City.
By Caitlin Mullen • Aug. 28, 2024 -
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Busey, CrossFirst to merge in $916.8M deal
The transaction, set to close in the first half of 2025, will give Busey access to six new states and lucrative markets such as Denver, Dallas and Phoenix.
By Dan Ennis • Aug. 27, 2024 -
Permission granted by Edward Jones
Edward Jones links with U.S. Bank after Citi reverses course
Citi last August launched a partnership with Edward Jones that was expected to offer checking and savings services. But Citi disbanded the program within months, during its reorganization.
By Caitlin Mullen • Aug. 21, 2024
