Retail


  • The Dallas skyline
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    SouthState, Independent deal approved by Fed

    The roughly $2 billion deal is the second banking investment or combination to which the central bank has given its blessing in as many days.

    By Dec. 13, 2024
  • A person wearing a blue hat and light t-shirt walks past a KeyBank branch location, as the glass reflects the street scene.
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    Scotiabank gets Fed’s approval to take bigger KeyBank stake

    The earlier-than-expected green light will let the Canadian lender proceed to Phase 2 of its investment — a $2 billion infusion and the right to name two directors to the Cleveland bank’s board.

    By Dec. 13, 2024
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    Trendline

    Artificial intelligence

    Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

    By Banking Dive staff
  • Ally Financial, NYSE facade
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    Courtesy of Ally Financial
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    Ally CEO indicates card business not a core focus

    “In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.

    By Dec. 13, 2024
  • A Wells Fargo bank signage is seen on Broadway on December 20, 2022 in New York City.
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    Nonbranch Wells Fargo workers vote to unionize

    A group of conduct management investigators spread across the country voted to join Wells Fargo Workers United. The National Labor Relations Board certified the vote Tuesday.

    By Dec. 12, 2024
  • Wells Fargo CEO Charlie Scharf
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    Wells Fargo’s Scharf calls for capital requirements clarity

    The bank’s CEO on Wednesday called uncertainty around how much extra capital banks will be required to hold “a crazy way to run a system.”

    By Dec. 11, 2024
  • PNC CEO Bill Demchak
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    PNC’s Demchak: De-regulation clamor is overblown

    “I think people are a little bit too excited … that they’re just going to let everybody run free here,” the Pittsburgh bank's CEO said. “I don’t see that at all.”

    By Dec. 11, 2024
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    Could a French bank foil UniCredit’s play for Banco BPM?

    Crédit Agricole boosted its stake in BPM — borrowing a strategy UniCredit used on Commerzbank. The French bank insists it doesn’t aim to buy BPM. The Italian government seems OK with that.

    By Dec. 9, 2024
  • A newer PNC branch is shown, with "PNC" signage on the exterior of the building.
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    Courtesy of PNC
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    Q&A

    PNC leans into branch staff with hospitality industry roots

    “It’s a mindset,” one executive said. “We want people that are client advocates, that can drive the hospitable environment that we’re looking for, but also have the intellect, the curiosity to help.”

    By Dec. 9, 2024
  • The exterior of a Citizens Bank is pictured.
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    Kate Tornone/Banking Dive
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    Citizens tweaks features, eyeing deeper ties to customers

    Recent upgrades to the super-regional’s digital experience are aimed at fueling primacy with clients, a Citizens executive said, as banks vie to be their customers’ No. 1.

    By Dec. 6, 2024
  • A bicyclist rides by a Wells Fargo bank branch in San Francisco, California
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    Wells Fargo to lay off hundreds in Oregon

    The Hillsboro and Salem offices, with 500 and 221 employees, respectively, might be impacted by the lender’s decision to pull out of these locations, according to a WARN notice filed Tuesday.

    By Dec. 5, 2024
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    TD shelves growth targets in wake of AML settlement

    The embattled Canadian lender is undergoing a strategic review of its priorities and opportunities. “Everything is on the table,” said Raymond Chun, the bank’s current COO who will take the CEO reins in April.

    By Dec. 5, 2024
  • An illustration of the front of a bank connected to different icons representing digital services.
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    Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump

    The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.

    By Dec. 4, 2024
  • James Anthos speaking on stage at a banking conference
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    Fifth Third’s branch expansion holds tech at the center

    Its patent-pending heat mapping tool will power the bank’s expansion plan to add about 200 branches by 2028, primarily in the Southeast.

    By Dec. 4, 2024
  • Panoramic view of South Beach at Miami South Pointe Park with high skyscrapers
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    United Community Banks to deepen Miami-area footprint in $80M deal

    The South Carolina-based lender will buy American National Bank in its sixth acquisition since 2018.

    By Dec. 4, 2024
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    Metropolitan Commercial Bank ‘aided and abetted’ Voyager fraud: lawsuit

    MCB is accused of defrauding customers of crypto exchange Voyager Digital, many of whom have been unable to access their funds since Voyager’s 2022 bankruptcy.

    By Dec. 3, 2024
  • SEC settles ransomware case against ICBC unit

    The agency opted not to impose a fine on the U.S. unit of China's largest bank, which had difficulty updating system books and records after a 2023 cyberattack.

    By Dec. 3, 2024
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    Fed approves United-Piedmont merger

    The Federal Reserve cleared United Bank to proceed with its proposed $267 million acquisition of Piedmont Bancorp less than seven months after the deal was announced.

    By Dec. 2, 2024
  • A sign for CitiBank is seen on the bank branch in Manhattan on March 01, 2024 in New York City.
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    Citi separates Mexico retail ops from institutional business

    The move sets up the bank to spin off Banamex in an IPO, as planned. The timing of that will depend on regulatory approval, but the bank has long targeted next year.

    By Dec. 2, 2024
  • An equestrian statue of Roman emperor and stoic philosopher Marcus Aurelius on Capitoline Hill in Rome, Italy.
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    BPM spurns UniCredit’s takeover bid

    The bank blasted what it sees as a weak premium. Its CEO warned a deal would cost BPM 6,000 jobs. And Italian officials expressed concern that a UniCredit tie-up would stall efforts to grow BPM.

    By Nov. 27, 2024
  • An equestrian statue of Roman emperor and stoic philosopher Marcus Aurelius on Capitoline Hill in Rome, Italy.
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    PaoloGaetano via Getty Images
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    Italy’s UniCredit to buy domestic rival Banco BPM in €10.1B deal

    The move pauses speculation that UniCredit was considering a bid for Germany’s Commerzbank. It also foils a plan by the Italian government to boost competition against UniCredit and its peer, Intesa Sanpaolo.

    By Nov. 25, 2024
  • The Dallas skyline
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    First Foundation names new CEO

    The Dallas-based bank tapped Thomas Shafer, an M&A veteran at TCF and Huntington, as its next chief, replacing Scott Kavanaugh, who retired.

    By Nov. 25, 2024
  • An aerial view of St. Paul, Minnesota depicts buildings and a bridge near a river.
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    Old National to acquire Minnesota’s Bremer for $1.4B

    The deal would expand $54 billion-asset Old National’s presence in the upper Midwest and make it the third-largest bank in the Twin Cities.

    By Nov. 25, 2024
  • Ally Financial, NYSE facade
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    Ally names new risk, audit chiefs

    The Detroit-based lender is also bringing on a former USAA and TD executive to head up deposits.

    By Nov. 21, 2024
  • The Seattle skyline, featuring the Space Needle and skyscrapers.
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    FirstSun, HomeStreet terminate merger

    The deal’s collapse frees HomeStreet to pursue another suitor or ease its CRE concentration. FirstSun and HomeStreet warned last month the already-revamped proposal would need further tweaks.

    By Nov. 20, 2024
  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
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    Anna Hrushka/Banking Dive
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    ‘Dysfunction’ brought down Republic First: FDIC OIG

    In a site visit five months before the Philadelphia bank’s collapse, the FDIC neglected to downgrade the bank’s CAMELS rating and replaced a recommended consent order with an informal enforcement action.

    By Nov. 14, 2024