Retail: Page 2
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Kraken to buy futures platform NinjaTrader for $1.5B
The tie-up marks the largest deal to date between the traditional finance and crypto sectors.
By Gabrielle Saulsbery • March 24, 2025 -
Federal Reserve. (2024). [Photo]. Retrieved from Flickr.
Fed’s Bowman: Let’s rethink negative comment review for bank applications
Commonwealth Business Bank applied to open a branch in New Jersey last September, but one adverse comment routed the application to the central bank’s board for review and vote, the potential supervision czar said.
By Caitlin Mullen • March 24, 2025 -
Explore the Trendline➔
Natalie Meepian via Getty ImagesTrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
Massachusetts bank deemed in ‘troubled condition’ by OCC
The $209.9 million-asset 42 North Private Bank did not fully comply with a 2017 consent order alleging unsafe and unsound practices, the OCC said.
By Gabrielle Saulsbery • March 21, 2025 -
Bank customers want clearer communication on cybersecurity: survey
Static, bare-bones website text about information security is “not enough anymore,” an Accenture executive said. A survey by the company found that customers trust banks – but not third-party partners – with their data.
By Caitlin Mullen • March 20, 2025 -
Northern Trust exec: Crypto rule changes may ease tokenization
Biden-era anti-crypto regulations didn’t just affect volatile digital assets. They also affected firms offering traditional assets, like bonds, on the blockchain.
By Gabrielle Saulsbery • March 17, 2025 -
Fed OKs Renasant, EverBank acquisitions
The central bank issued two approvals Friday, allowing two Mississippi banks to merge in a $1.2 billion deal, and EverBank to acquire components of Sterling Bank for $261 million. Both deals are set to close April 1.
By Caitlin Mullen • March 17, 2025 -
TD names new US consumer-bank leaders amid branch closures
The 38 branch closures follow “business-as-usual reviews” and come as the bank names two executives to bolster its retail operations.
By Gabrielle Saulsbery • March 14, 2025 -
Webster eyes $100B threshold, invests in hiring and tech
The Connecticut-based bank aims to hire about 200 people this year, including adding about two dozen technology and cybersecurity employees, Webster’s CIO said.
By Caitlin Mullen • March 14, 2025 -
Q&A
Citi pursues partnerships to elevate its pay-over-time tool
The bank doesn’t need partnerships for its credit card customers to access Flex Pay, but tie-ups offer customer convenience and visibility, said Citi’s Jeff Chwast.
By Caitlin Mullen • March 13, 2025 -
NYDFS chief details changes spurred by Signature failure
The regulator implemented new escalation protocols and an operational stress testing exercise to keep a closer eye on the “C students” under its watch, Adrienne Harris said Tuesday.
By Caitlin Mullen • March 12, 2025 -
Trump Organization accuses ‘woke’ Capital One of de-banking
The lender de-banked some 300 Trump Organization accounts because it believed “the political tide at the moment favored doing so,” a lawsuit contends. Eric Trump has suggested more big banks may be targeted.
By Caitlin Mullen • March 10, 2025 -
Comerica urges judge not to give CFPB more time on lawsuit
The stay requested by the CFPB would prolong the harm Comerica is experiencing due to the “meritless” lawsuit, the bank said.
By Gabrielle Saulsbery • March 7, 2025 -
SVB’s ex-parent company sues First Citizens over trademarks
SVB Financial Trust alleges First Citizens failed to acquire trademarks, including the SVB name and logo, when it bought the bank in 2023. First Citizens denies the claims.
By Gabrielle Saulsbery • March 6, 2025 -
TD’s US consumer-banking chief jumps to Citizens
The Providence, Rhode Island-based bank also named Wells Fargo veteran Michelle Moosally as its next general counsel and chief legal officer.
By Gabrielle Saulsbery • March 4, 2025 -
Puerto Rico’s biggest bank names next CEO
Javier Ferrer will be elevated to CEO from his current post as president and operations chief once CEO Ignacio Alvarez steps down at the end of June.
By Gabrielle Saulsbery • Feb. 28, 2025 -
CFPB ditches lawsuit against Capital One
The bureau reversed course Thursday after accusing the bank last month of obscuring a higher-paying savings product from some legacy savings account holders.
By Caitlin Mullen • Feb. 28, 2025 -
TD racks up AML remediation costs
After spending $86 million in Q1, the bank expects to spend $500 million on AML remediation costs and governance and control investment in fiscal 2025.
By Gabrielle Saulsbery • Feb. 27, 2025 -
Old Second boosts Chicago-area footprint in $197M Evergreen deal
The transaction will allow Old Second to expand into powersports lending. The deal comes six months after the bank agreed to buy five Chicago-area branches from Indiana’s First Merchants Bank.
By Dan Ennis • Feb. 26, 2025 -
JPMorgan to lay off 121 in NJ
The cuts are part of what was previously reported, according to a spokesperson. Hundreds of open positions remain in New Jersey.
By Gabrielle Saulsbery • Feb. 25, 2025 -
CFPB drops case against SoLo Funds
The bureau’s lawsuit against the online lending platform – filed during Rohit Chopra’s tenure – “was wrong” and “the weaponization of ‘consumer protection’ must end,” the CFPB’s Acting Director Russ Vought said Sunday.
By Caitlin Mullen • Feb. 24, 2025 -
UMB embraces ‘consolidator’ role
The bank’s recent acquisition of HTLF boosted its wealth business by 32% “overnight” and doubled its branch footprint. But UMB CEO Mariner Kemper said he is taking systems conversion deliberately slowly.
By Caitlin Mullen • Feb. 20, 2025 -
Citi’s Sieg sees tech lag as an invitation to innovation
The bank’s market position – behind its peers – is a challenge that allows it to find ways to leapfrog competitors, Citi’s wealth chief said.
By Caitlin Mullen • Feb. 13, 2025 -
‘Taking stock’: BofA and JPMorgan execs weigh in on Trump 2.0
While Bank of America CEO Brian Moynihan called the recent regulatory shift “classic re-engineering,” one peer exec said the changes “are taking all the oxygen in the room.”
By Caitlin Mullen • Feb. 12, 2025 -
Citi’s year-end promotions total 8,500
That figure was similar to past years, following the bank’s broad reorganization and despite earlier reporting Citi would promote far fewer employees in 2024.
By Caitlin Mullen • Feb. 7, 2025 -
Ex-Huntington branch manager sues bank, raising FMLA allegations
Terri Estepp alleged she was fired from Huntington Bank after nearly 28 years because she took FMLA leave to care for her dying daughter. The bank said her termination is unrelated.
By Gabrielle Saulsbery • Feb. 6, 2025