Retail: Page 2


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    Integrated Financial finds another buyer in $66M deal

    Capital Bancorp agreed to buy IFH to expand its consumer and lending business. IFH’s prior deal with MVB Financial fell through in May due to delays and changing market conditions.

    By March 29, 2024
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    Brandon Bell/Getty Images via Getty Images
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    Warren reiterates call for gun MCC guidance

    The senator and 32 other Democrats are stressing the need for federal guidance on the gun merchant category code as states take opposing sides.

    By March 29, 2024
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    Courtesy of The Howard Hughes Corp.
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    Trendline

    Top 5 stories from Banking Dive

    Banks brace to see if commercial real estate exposure will trigger a rerun of last year’s crisis. And regulators face a mountain of comments from the most contentious proposed rule in decades.

    By Banking Dive staff
  • A Banco Santander's logo is seen at a bank's branch before a news conference to announce the 2019 results on January 29, 2020 in Boadilla del Monte, in Madrid, Spain.
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    Pablo Blazquez Dominguez via Getty Images
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    Santander hires ex-Marcus chief to lead US digital transformation

    Swati Bhatia becomes the second Goldman consumer-banking vet to find a landing spot in just over a week.

    By March 28, 2024
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    Courtesy of Ally Financial
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    Ally names Discover CEO to its top post

    A little over a month after starting as Discover's CEO, Michael G. Rhodes is leaving to take the same position at Ally.

    By March 27, 2024
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    Justin Sullivan via Getty Images
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    Walmart can break off Capital One card partnership early, judge says

    It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.

    By March 27, 2024
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    Drew Angerer via Getty Images
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    Citi wraps up reorg’s ‘major actions’

    The bank is informing employees this week of its largest round of reassignments and departures so far — changes CEO Jane Fraser said aim to put Citi "on the front foot."

    By March 27, 2024
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    A New Jersey ‘super-community bank’ is just one approval away

    The proposed combination of Provident and Lakeland has received approvals from the FDIC and the New Jersey Department of Banking and Insurance. That leaves only a green light from the Federal Reserve.

    By March 26, 2024
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    Win McNamee via Getty Images
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    Capital One pledges to give Discover’s network a boost

    Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.

    By March 26, 2024
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    Robinhood goes live in the UK

    The company indefinitely postponed its U.K. launch in 2020 over technical issues but rolled out a waitlist in November. It did, however, pause margin investing for U.K. users.

    By March 20, 2024
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    PNC leans on ‘boring’ label in new marketing campaign

    While PNC’s CEO said his industry “sometimes chases shiny objects,” a J.D. Power analyst asserted the bank’s ads may challenge customers to see the meaning of “boring” differently.

    By March 19, 2024
  • A Banco Santander's logo is seen at a bank's branch before a news conference to announce the 2019 results on January 29, 2020 in Boadilla del Monte, in Madrid, Spain.
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    Pablo Blazquez Dominguez via Getty Images
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    Column

    Dive Deposits: Santander pay frustration should be aimed at the US

    A proxy adviser urged shareholders to reject a €12.2 million pay package for Chair Ana Botín. She earns less than half what CEOs at similarly sized U.S. banks make, but the gripe is over fixed salary.

    By March 18, 2024
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    Michael M. Santiago via Getty Images
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    Goldman’s Cohen heads for exit as GreenSky deal closes

    GreenSky is now owned by an investor group led by Sixth Street. Stephanie Cohen, Goldman’s global head of platform solutions, is leaving the bank for IT firm Cloudflare.

    By March 18, 2024
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    Huntington hires JPMorgan vet as next HR chief

    Sarah Pohmer, who’s spent nearly 25 years at JPMorgan, has been named the next human resources chief at the Columbus, Ohio-based bank.

    By March 18, 2024
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    Leon Neal via Getty Images
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    UK’s Metro Bank eyes £30M more in cost savings by year’s end

    The bank expects to lay off additional employees — it has cut 1,000 since October — and it will abandon its seven-day-a-week branch model.

    By March 14, 2024
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    Starling taps HSBC alum as next CEO

    The digital bank's founder, Anne Boden, said she believes Raman Bhatia can move Starling “into its next phase of growth while cherishing the culture and values” her team had worked hard to create.

    By March 13, 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 aims to grow its private credit portfolio to $300B: report

    The bank’s footprint there already far exceeds its rivals. Goldman, in a year, also nearly cut in half a $30 billion cache of legacy investments.

    By March 12, 2024
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    Courtesy of U.S. Bank
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    U.S. Bank mandates 3 days a week in the office

    This marks a shift in policy from optional, a year and a half after CEO Andy Cecere told employees their presence was preferred.

    By March 6, 2024
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    Column

    Dive Deposits: TD gives its AML woes long-haul messaging

    The bank's First Horizon stumble is as woven into its fabric as the Revlon error is for Citi, or the fake-accounts scandal is for Wells Fargo, if one looks at TD's responses to analysts.

    By March 6, 2024
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    Metropolitan Commercial Bank exits BaaS

    “The decision to terminate these financial service partnerships will reduce the Company’s exposure to the heightened, and evolving, regulatory standards related to these activities,” the bank said in its 10-K filing last week.

    By March 4, 2024
  • A Banco Santander's logo is seen at a bank's branch before a news conference to announce the 2019 results on January 29, 2020 in Boadilla del Monte, in Madrid, Spain.
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    Pablo Blazquez Dominguez via Getty Images
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    Santander cuts roughly 320 US jobs: reports

    Many of the layoffs are centered on the bank’s retail operations, ahead of the expected launch of a fully digital platform in the U.S. this summer.

    By March 4, 2024
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    Mark Makela via Getty Images
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    Investors back out of $35M deal with Republic First

    The bank failed to meet the terms of their agreement by the deadline, Norcross-Braca Group said. The bank said it remains adequately capitalized.

    By March 1, 2024
  • A Wells Fargo bank signage is seen on Broadway on December 20, 2022 in New York City.
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    Michael M. Santiago via Getty Images
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    Wells Fargo faces new class-action suit over fake-accounts response

    A complaint filed Thursday seeks $5 million for customers who received letters from the bank asking them to contact Wells Fargo about being enrolled in unwanted products.

    By March 1, 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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    Citi laying off 286 New York-based employees

    The staff cuts, set to take effect before May 3, encompass 239 employees in Citi’s primary banking unit, 44 in its global markets broker-dealer and three in a technology unit, according to WARN notices filed with the state.

    By Feb. 29, 2024
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    Courtesy of State Street
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    State Street to invest $100M in MDIs, CDFIs

    South Carolina-based Optus Bank and North Carolina-based Mechanics & Farmers Bank, two of the oldest Black-owned banks in the nation, are State Street’s first deposit partners for the program.

    By Feb. 29, 2024
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    Courtesy of Green Dot
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    Green Dot faces Fed’s proposed consent order

    The digital bank set aside $20 million to cover a potential penalty stemming from compliance risk management issues predating the company’s current management.

    By Feb. 28, 2024