Citi cuts more than 300 senior manager roles: report

The cuts affect employees two levels below CEO Jane Fraser’s executive management team, a source told Bloomberg.

By Anna Hrushka • Nov. 20, 2023

Wise CFO credits customer growth for 280% profit jump

The fintech’s nearly quadruple jump in profits comes as its CFO is preparing to depart after an eight-year tenure.  

By Grace Noto • Nov. 17, 2023

Explore the Trendline➔

Top 5 stories from Banking Dive

Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.

By Banking Dive staff

Neobank HMBradley to wind down retail operations in B2B pivot

After failing to hit growth targets, the fintech is shutting down its consumer operations and looking to sell its technology to banks.

By Anna Hrushka • Nov. 16, 2023

First Financial buys SimplyBank to expand in Southeast

The purchase grows the Indiana bank's Tennessee footprint and offers it entry into Georgia. Several banks, such as TD, Fifth Third and Bank of America, have targeted the Southeast as a growth region this year.

By Gabrielle Saulsbery • Nov. 16, 2023

Third-party guidance could have ‘chilling effect’ on BaaS, former FDIC chair warns

“I don’t think that the current set of regulators really want banking-as-a-service and third-party partnerships to blossom,” former FDIC Chair Jelena McWilliams said during an event in Washington, D.C. on Tuesday.

By Anna Hrushka • Nov. 15, 2023

First Citizens unveils updated $6.5B community benefits plan

The commitment, recognizing Silicon Valley Bank’s pre-existing relationships, extends the bank's community support to Northern California and Massachusetts, First Citizens said.

By Anna Hrushka • Nov. 15, 2023

The ax falls at Citi and Wells

Citi was set to begin informing employees Wednesday about job cuts, CNBC reported. Meanwhile, Wells Fargo is cutting 40 to 50 corporate and investment banking jobs.

By Dan Ennis • Nov. 15, 2023

Truist names COO, hires away Wells Fargo exec

Vice Chair Beau Cummins will become chief operating officer immediately, Truist said. Meanwhile, Kristin Lesher will join the bank as chief wholesale banking officer in February from Wells Fargo.

By Dan Ennis • Nov. 15, 2023

Another Fifth Third alum joins City National as next CFO

Chris Doll, Fifth Third's head of investor relations, joins the Royal Bank of Canada subsidiary Nov. 27, after Greg Carmichael and Howard Hammond.

By Dan Ennis • Nov. 14, 2023

GOP senators blast capital-requirements proposal ahead of hearing

Sen. Tim Scott, R-SC, and 38 other lawmakers asked the Fed, FDIC and OCC to withdraw the proposal in a letter one day before representatives of each agency testify on Capitol Hill.

By Dan Ennis • Nov. 14, 2023

FTX sues Bybit for $953M

The bankrupt crypto exchange accused Bybit of holding hundreds of millions of dollars in assets “hostage” after they were transferred off FTX by Bybit affiliate Mirana shortly before FTX’s collapse.

By Gabrielle Saulsbery • Nov. 14, 2023

Associated Bank lays off 3%: report

The layoffs, which amount to around 120 of its 4,000 employees, are to cut costs while the bank furthers the strategic initiative it announced in 2021.

By Gabrielle Saulsbery • Nov. 13, 2023

BNPL companies face grim outlook, Moody’s says

Fierce competition, persistent losses and regulatory constraints are likely to push some players out of the buy now, pay later market, Moody’s predicted.

By Lynne Marek • Nov. 13, 2023

City National names Fifth Third exec as its next CEO

Outgoing CEO Kelly Coffey will remain with the Royal Bank of Canada subsidiary as CEO of City National Entertainment, the Los Angeles-based lender said Friday.

By Dan Ennis • Nov. 13, 2023

Revolut appoints interim CFO as it races to meet filing deadline

Revolut’s interim CFO and new U.K. CEO face an upward battle to win the fintech’s long-sought after U.K. banking license.

By Grace Noto • Nov. 10, 2023

Wells Fargo execs expect asset cap to extend into 2025: report

The bank’s top executives believe the first quarter of 2025 will be the earliest that a $1.95 trillion asset cap imposed by the Federal Reserve could be lifted, Bloomberg reported.

By Anna Hrushka • Nov. 9, 2023

Citi fined $25.9M over alleged discrimination

The bank, between 2015 and 2021, denied certain credit card products to applicants with surnames ending in “ian” and “yan,” suffixes that Citi employees associated with Armenian national origin, the CFPB said.

By Anna Hrushka • Nov. 8, 2023

CFPB proposes new oversight for payment tech firms

Google, Apple and 15 other big non-bank technology companies that provide digital wallets or payments apps would be subject to increased regulation if a new Consumer Financial Protection Bureau rule is approved.

By Lynne Marek , James Pothen • Nov. 7, 2023

Iowa community bank becomes 5th to fail this year

The $66 million-asset Citizens Bank of Sac City, Iowa, entered receivership of the FDIC on Friday and was then acquired by Iowa Trust & Savings.

By Gabrielle Saulsbery • Nov. 7, 2023

Regions Bank partners with credit-building fintech

Through a new partnership with Self Financial, Regions customers can have their rent, cell phone and utility payments reported to the three major credit bureaus.

By Anna Hrushka • Nov. 7, 2023

Truist CFO: Structure reorg is key to $750M cost-cutting plan

CFO Mike Maguire says the bank is making good progress, as it grapples with a string of high-profile executive departures.

By Suman Bhattacharyya • Nov. 7, 2023

Citi considers 10% job reduction in major units: report

Chiefs of staff and chief administrative officers across the bank will be cut this month, sources told CNBC. The firm has reportedly hired Boston Consulting Group to help it carry out the plan.

By Anna Hrushka • Nov. 6, 2023

Goldman promotes 608 execs to managing director

Around 47% of the class hails from Goldman’s investment banking and trading arm, a figure that reflects the firm’s efforts to refocus on core competencies, following a retreat from retail banking.

By Anna Hrushka • Nov. 3, 2023

Breaking down buy now, pay later

After its pandemic-era growth spurt, buy now, pay later has gone mainstream in consumer payments. But changing economic conditions are forcing the installment trend to evolve.

By Caitlin Mullen • Nov. 3, 2023

Trust in banks remains steady, while fintechs have ground to cover: survey

The percentage of U.S. adults who say they trust banks and credit unions has held steady even in the wake of the collapse of Silicon Valley Bank and other regional lenders.

By Anna Hrushka • Nov. 2, 2023