Retail: Page 2


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    Banking group drops OCC suit after Figure updates charter application

    "We still feel like the law would have come out on our side ... but we just don't want to continue to wait," the fintech's general counsel said of its decision to seek deposit insurance.

    By Updated Jan. 14, 2022
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    Mark Wilson via Getty Images

    Capital One tops customer satisfaction survey among national banks

    On average, the national banks included in J.D. Power's 2021 customer satisfaction survey scored five points lower than in 2020.

    By Dec. 17, 2021
  • Trendline

    Fraud and AML in banking

    The coronavirus pandemic, the rise of cryptocurrencies and the growth of cannabis banking make it imperative for financial institutions to stay on top of the risks related to fraud and money laundering.

    By Banking Dive staff
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    Customers Bank plays up 'fintech-forward' focus in rebrand

    The bank said it's attracting "younger, more diverse, more tech savvy" clients, and the new branding is "designed to capture this vibe."

    By Dec. 16, 2021
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    Crypto custody firm Anchorage Digital raises $350M in $3B valuation

    The company's latest raise comes as the firm is ramping up its strategy to partner with financial institutions that want to provide their clients with custody services for their digital assets.

    By Dec. 15, 2021
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    Citi levels up gender diversity in managing director class

    Women comprise 34.6% of the 306 employees promoted Monday, an uptick of more than 5 percentage points over last year. But the figure falls short of a goal of 40% the bank pushed in 2018.

    By Dec. 14, 2021
  • Chime customers can deposit funds at Walgreens for free

    The retailer joins CVS, Walmart and 7-Eleven in allowing Chime's customers to make deposits at their brick-and-mortar locations. Walgreens, however, is the only retailer to do so without charging a fee.

    By Dec. 14, 2021
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    Chris Hondros via Getty Images

    JPMorgan Chase to allow earlier paycheck access, expand overdraft grace period

    Starting next year, the bank will give customers until the end of the day after overdrawing to get their account to within $50 of positive. The move expands on a policy shift JPMorgan instituted in August.

    By Dec. 9, 2021
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    Crypto, cybersecurity and climate in focus in OCC risk report

    "The OCC is approaching crypto-related activities in the federal banking system very carefully with a high degree of caution and expects its supervised institutions to do the same," the agency said in its report.

    By Dec. 7, 2021
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    Courtesy Stash

    How Stash helps its customers navigate emerging wealth tools

    "One of the biggest learnings for us ... was making sure that we give context to the information that we're asking for and why," said Claudio Esposito, the fintech's senior vice president of product.

    By Suman Bhattacharyya • Dec. 3, 2021
  • CFPB signals tougher stance on banks 'hooked' on overdraft fees

    "Financial institutions that have a higher share of frequent overdrafters or a higher average fee burden for overdrafting should expect us to be paying them close supervisory attention," bureau Director Rohit Chopra said.

    By Dec. 2, 2021
  • Capital One eliminates overdraft fees

    The new policy is expected to cost the $425.4 billion-asset bank $150 million in lost revenue per year.

    By Dec. 1, 2021
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    Courtesy of FDIC

    Bank profits jump nearly 36% year over year in Q3, FDIC says

    However, net income has fallen 1.2% from this year's second quarter, as banks release fewer loan loss reserves that had been set aside earlier in the COVID-19 pandemic.

    By Dec. 1, 2021
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    Daniel Berehulak via Getty Images

    UBS poaches next CFO from JPMorgan Chase

    Sarah Youngwood, JPMorgan's CFO of consumer and community banking since 2016, will join the Swiss bank's executive board in March. Bori Cox will replace Youngwood at JPMorgan.

    By Updated Dec. 22, 2021
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    Chris Hondros via Getty Images

    UK fintech Thought Machine surpasses $1B valuation

    The company raised $200 million in its most recent funding round, which it said will provide capital for the continued development of its SaaS product Vault, already in use by JPMorgan Chase.

    By Nov. 29, 2021
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    Citi names crypto team chief, looks to hire 100 more in digital asset effort

    Puneet Singhvi will become the head of digital assets for Citi's institutional clients group Dec. 1, according to an internal memo.

    By Nov. 23, 2021
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    Alex Wroblewski via Getty Images

    JPMorgan to reimburse Hong Kong bankers up to $5K for quarantine costs

    The funds are meant to mitigate the cost of the city's harsh COVID-19 restrictions and help bank employees finance personal trips.

    By Updated Nov. 24, 2021
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    Deep Dive

    Banks, fintechs navigate market's appetite for crypto amid pending regulatory guidance

    From Bitcoin rewards to custody services for digital assets, banks and fintechs are carving out strategies and services tied to crypto as regulators seek to catch up with guidance.

    By Nov. 22, 2021
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    Daniel Berehulak via Getty Images

    UBS nominates ex-Morgan Stanley No. 2 Kelleher as next chair

    The executive would work alongside CEO Ralph Hamers on, among other initiatives, the launch of a digital bank in the U.S. targeting customers with between $250,000 and $2 million in assets.

    By Nov. 22, 2021
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    OCC orders Chicago bank entangled in Manafort scandal to boost controls

    Federal Savings Bank must create a panel that will update the regulator monthly on the lender's efforts to improve risk management, anti-money laundering and consumer compliance standards.

    By Nov. 19, 2021
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    Permission granted by U.S. Bank

    U.S. Bank to buy travel and expense management fintech TravelBank

    After a yearlong partnership, the Minneapolis lender opted to buy the fintech outright, in a deal reportedly worth $200 million.

    By Nov. 17, 2021
  • LMI lender Oportun to buy digital bank Digit in $213M cash-equity deal

    The deal will result in Digit and Oportun having access to a combined 1.4 million members, to whom both entities plan to cross-sell their products.

    By Nov. 16, 2021
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    Getty

    Connecticut bank, fintech merge with an eye toward digital national bank

    Stamford-based Patriot National Bank will pay $119 million to buy American Challenger Development Corp., a company that had been pursuing a de novo charter, in a deal announced Monday.

    By Nov. 15, 2021
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    BNP Paribas could offload Bank of the West in $15B deal

    The French bank enlisted JPMorgan and Goldman Sachs to gauge interest from bidders that could include TD, Bank of Montreal, KeyBank, Royal Bank of Canada and PNC, sources told Reuters.

    By Nov. 15, 2021
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    BM Technologies to buy Seattle community bank to 'accelerate earnings power'

    The $23 million deal, set to close in the second half of 2022, will allow BM Technologies to supplement fee-based income with net interest income, CEO Luvleen Sidhu said.

    By Nov. 15, 2021
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    Dan Kitwood/Getty Images News via Getty Images

    Crypto creeps into the checkout line

    Payments firms are betting on crypto's growth as an asset class to fuel crypto adoption at checkout.

    By Suman Bhattacharyya • Nov. 10, 2021