Retail: Page 2


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    CFPB should update regulations in response to Zelle fraud, Warren says

    Warren urged the regulator to amend Regulation E of the Electronic Fund Transfer Act “to increase consumer protection and interpret the guidelines surrounding peer-to-peer platforms.”

    By Oct. 31, 2022
  • Wall Street
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    Wall Street’s pre-pandemic boom has ended, NY comptroller says

    An annual New York City securities industry report predicts a 22% drop from 2021’s record-high compensation packages.

    By Oct. 28, 2022
  • Trendline

    Marketing trends

    Established and up-and-coming challengers show how they embrace new business silos such as cannabis, BaaS and the metaverse — or connect “ingredients” to stimulate growth.

    By Banking Dive staff
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    gradyreese via Getty Images

    Flagstar, NYCB extend looming deadline upon OCC approval

    The combination will create an $88.4 billion-asset bank with a 395-branch footprint across nine states, so long as a green light from the Fed comes in time.

    By Oct. 28, 2022
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    Permission granted by Boost Mobile

    Boost Mobile ventures into banking

    “We've got millions of customers coming into Boost stores who are paying in cash every month,” CEO Stephen Stokols said. “We thought, ‘We give them the connectivity. Can we give them the banking services, as well?’”

    By Oct. 27, 2022
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    Matt Cardy/Getty via Getty Images

    HSBC ousts CFO, appoints new one

    New CFO Georges Elhedery, formerly the bank's co-CEO of global banking and markets, returned from a six-month sabbatical in September. Outgoing CFO Ewen Stevenson will step down Dec. 31.

    By Oct. 25, 2022
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    Zhanna Hapanovich via Getty Images

    Peoples Bank to nearly double Kentucky footprint in $208.2M acquisition

    Buying Louisville-based Limestone Bank will give the Ohio lender an added $1.5 billion in assets, $1.1 billion in loans and $1.2 billion in deposits. The transaction is set to close in the second quarter of 2023.

    By Oct. 25, 2022
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    Deep Dive

    Banking-as-a-service grows as regulators play catch-up

    The BaaS space is expected to reach $74.55 billion by 2030, and has emerged as an enticing revenue stream for community banks. Meanwhile, the OCC has hinted more regulation is forthcoming.

    By Oct. 25, 2022
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    Dan Kitwood via Getty Images

    Credit Suisse chief compliance officer set to exit

    Rafael Lopez Lorenzo's departure is not related to the bank's upcoming revamp, sources told Bloomberg. He served for more than a year in a role that once also encompassed overseeing risk at the bank.

    By Oct. 24, 2022
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    Courtesy of Wells Fargo multimedia resources

    Wells Fargo taps Google AI on virtual assistant launch

    “This partnership will expand our customers’ digital financial support network by enabling meaningful money conversations,” the bank’s head of digital said.

    By Oct. 24, 2022
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    Mark Wilson via Getty Images

    Capital One looks to revamp airport lounge experience

    The bank partnered with Washington-area chef José Andrés to design a menu that focuses on tapas in spaces located a short distance from departure gates at two major U.S. airports.

    By Oct. 21, 2022
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    Column

    What Q3 earnings taught us about layoffs, M&A and other costs

    All but one of the nation's six largest banks reported higher headcounts despite job-cut anticipation. State Street flagged concern over its BBH deal. And Truist decried “other” expenses.

    By Oct. 20, 2022
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    Dan Kitwood via Getty Images

    Whither the investment-banking chief?

    Longtime executives at Credit Suisse and JPMorgan Chase are expected to leave their respective companies in the coming months.

    By Oct. 18, 2022
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    Newbird via Getty Images

    Climate-conscious neobank Aspiration names new CEO

    The leadership transition comes a year after the company announced plans to go public through a merger with special-purpose acquisition company InterPrivate III Financial Partners Inc.

    By Oct. 18, 2022
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    Green Dot

    Green Dot fires CEO, names replacement

    The company terminated Dan Henry, its CEO since 2020, on Friday, it said. George Gresham, the firm’s chief financial and operating officer, is stepping into the top role.

    By Oct. 17, 2022
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    Paul Morigi via Getty Images

    Goldman Sachs overhaul splits Marcus

    The platform’s consumer-focused operations will fall under a newly combined asset- and wealth-management unit. Meanwhile, a corporate-client-centric Marcus unit will become a stand-alone entity.

    By Oct. 17, 2022
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    Courtesy of U.S. Bank

    Regulators approve U.S. Bank-MUFG Union merger

    The green light came as the Fed proposed requiring banks with $250 billion to $700 billion in assets to carry long-term debt that could be converted into equity in the event of failure.

    By Oct. 14, 2022
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    Drew Angerer/Getty via Getty Images

    Apple to launch high-yield savings account with Goldman Sachs

    The move is the logical next step for the Apple-Goldman partnership, according to one consultant, who said the day-to-day banking product complements Apple’s Goldman-powered credit-card offering.

    By Oct. 14, 2022
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    Alex Wroblewski via Getty Images

    Jamie Dimon isn’t the only bank CEO expecting a recession: KPMG

    Some 85% of bank chiefs believe the U.S. is headed for recession in the next 12 months, the accounting giant found in its annual CEO outlook. Nearly half see layoffs in the next six months.

    By Oct. 13, 2022
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    Courtesy of U.S. Bank

    U.S. Bank, MUFG Union sell 3 California branches to HomeStreet Bank

    Seattle-based HomeStreet will gain roughly $490 million in deposits, $22 million in loans and 16,000 new customer relationships in the deal. The bank also pledged to retain all employees in those branches.

    By Oct. 13, 2022
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    Drew Angerer via Getty Images

    TD’s postal partnership in Canada turns an eye toward US efforts

    The bank launched a small-dollar lending product Wednesday aimed at rural, remote and Indigenous Canadians. But a U.S. Postal Service pilot last year generated just six customers.

    By Oct. 13, 2022
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    Justin Sullivan via Getty Images

    Prosperity Bank to acquire two Texas community banks for $570M

    The Houston-based lender announced a plan to expand in west Texas less than a month after settling with the Justice Department in a PPP case.

    By Oct. 12, 2022
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    Courtesy of State Street

    State Street taps Wells vet to lead compliance as BBH deal hits crunch time

    The bank has floated several modifications to its pending $3.5 billion acquisition of a Brown Brothers Harriman unit in an effort to gain regulatory approval by year's end.

    By Oct. 12, 2022
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    Permission granted by Step

    Gen Z neobank Step launches crypto investing, rewards

    The fintech, which claims to have more than 3 million customer accounts, said it is partnering with digital assets infrastructure and regulatory platform Zero Hash to offer transaction and custody services.

    By Oct. 12, 2022
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    Chris Hondros via Getty Images

    Goldman Sachs to pare back consumer ambitions: report

    The investment bank’s pivot could usher in a potential reorganization of Goldman’s business lines, its third in four years, and comes amid regulator scrutiny of the bank’s consumer-focused products.

    By Oct. 10, 2022
  • A bird's eye view of Bank of the West's disappearing billboard drawn in the sand
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    Courtesy of Bank of the West

    Disappearing sand billboard pushes Bank of the West’s climate message

    The San Francisco-based lender partnered with a nonprofit on a kelp forest-focused campaign meant to be washed away on the day it was created.

    By Oct. 10, 2022