Retail: Page 2


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    The image by Wichita Regional Chamber of Commerce is licensed under CC BY 2.0
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    Ex-Heartland Tri-State CEO pleads guilty to embezzling $47M in crypto

    Shan Hanes also stole money from his church and a local investment club, according to court documents. Both have since disbanded. He faces 30 years in prison.

    By May 29, 2024
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    Joe Raedle / Staff via Getty Images
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    TD CEO: Spending on AML remediation could extend into 2025

    TD’s Bharat Masrani declined to say whether the Canadian lender expects closure this year on investigations into the bank’s AML program, citing ongoing conversations with regulators and the DOJ.

    By May 23, 2024
  • Trendline

    Customer service

    Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.

    By Banking Dive staff
  • SouthState to acquire Independent Bank in $2B deal

    The transaction, expected to close in the first quarter of 2025, is set to expand SouthState’s footprint in Texas and Colorado.

    By May 21, 2024
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    Sorry, Cash App. Gen Z still wants bank branches.

    Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.

    By James Pothen • May 21, 2024
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    Spencer Platt / Staff via Getty Images
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    NYCB’s COO resigns

    Julie-Ann Signorille-Browne led the bank’s integration with Flagstar and, later, the integration of assets and liabilities NYCB bought from the failed Signature Bank.

    By May 17, 2024
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    Zhanna Hapanovich
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    Alerus Financial to buy Minnesota bank in $116M deal

    The combined company will have roughly $5.5 billion in assets after the transaction, which is expected to close in the fourth quarter.

    By May 16, 2024
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    Joe Raedle / Staff via Getty Images
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    Fed, OCC to hold meeting July 19 on Capital One-Discover deal

    At $35.3 billion, the acquisition is well above the size that typically sees a public hearing by regulators. Agencies are eyeing tougher merger scrutiny, but that idea has received partisan backlash.

    By Lynne Marek • May 15, 2024
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    Anna Moneymaker via Getty Images
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    CFG Bank launches accounts to boost Key Bridge relief efforts

    A money market account through the bank is donating 0.05% of accrued interest to a nonprofit fund offering financial support for families affected by the bridge collapse.

    By May 14, 2024
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    The image by Maciek Lulko is licensed under CC BY 2.0
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    United Bank to buy Piedmont in $267M deal

    The acquisition is United’s first under CEO Richard Adams Jr., and would help the bank broach the Atlanta area — and Georgia altogether — for the first time.

    By May 13, 2024
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    Fifth Third launches ‘reimagined’ eBus with SpringFour

    The eBus will travel to underserved communities across the bank’s footprint and give consumers access to around 24,000 nonprofit resources through its collaboration with the social impact fintech.

    By May 8, 2024
  • CFPB Director Rohit Chopra
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    Chip Somodevilla via Getty Images
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    Chime dinged by CFPB for delayed customer refunds

    “When Chime discovered the issue, we worked with our vendor to resolve the error and issued refunds to impacted consumers,” a Chime spokesman said, adding that most issues occurred in 2020 and 2021.

    By May 7, 2024
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    Pgiam via Getty Images
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    FirstSun, HomeStreet seek charter change for merger

    FirstSun opted for a Texas state charter to skirt oversight by the OCC. Executives said that agency is slowing the banks’ tie-up over concerns with HomeStreet's CRE exposure.

    By May 6, 2024
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    Courtesy of U.S. Bank
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    U.S. Bank promotes Kedia to president

    Elevating the bank’s vice chair of wealth, corporate, commercial and institutional banking likely positions Gunjan Kedia as the successor to CEO Andy Cecere, a Piper Sandler analyst said.

    By May 6, 2024
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    Drew Angerer / Staff via Getty Images
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    TD faces DOJ probe over fentanyl-tied money laundering: report

    Criminals allegedly laundered millions of dollars of fentanyl proceeds through TD branches in New York and New Jersey, according to The Wall Street Journal.

    By May 3, 2024
  • Wells Fargo CEO Charlie Scharf
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    Drew Angerer / Staff via Getty Images
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    Wells Fargo shareholders reject union-busting audit

    Workers at a handful of the bank’s 4,000 branches have made a splash in recent months by voting to unionize.

    By May 1, 2024
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    Spencer Platt / Staff via Getty Images
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    NYCB posts $335M loss, but shares jump on turnaround plan

    CEO Joseph Otting said the lender has “identified an opportunity” to sell $5 billion in assets but declined to share details until a deal is final.

    By May 1, 2024
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    Michael Lawrence via Getty Images
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    Morgan Stanley’s $20M bonuses draw proxy adviser’s fire

    Glass Lewis recommended shareholders reject a pay package that gave one-time $20 million awards to the bank's newly minted CEO and his two fellow candidates to succeed James Gorman.

    By April 30, 2024
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    Spencer Platt / Staff via Getty Images
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    NYCB postpones annual meeting by 2 weeks

    The bank, at the time of the delay, had yet to say when it would report first-quarter results. Those are coming Wednesday.

    By April 30, 2024
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    iStock via Getty Images
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    UMB to buy Heartland Financial for $2B

    The deal will mark UMB’s largest acquisition in its 111-year history, increasing total assets by more than 40% to $64.5 billion.

    By April 29, 2024
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    Mark Makela via Getty Images
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    Republic First is seized, assets sold to Fulton Bank

    The first bank failure of 2024 punctuates the discord that has brewed at Republic First for more than two years. Fulton, meanwhile, will double its Philadelphia presence through the deal.

    By April 26, 2024
  • An American flag flies in front of the Capital One logo at the bank's headquarters.
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    Win McNamee via Getty Images
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    DOJ examines Capital One-Discover deal’s competitive angle

    The Fed and the OCC extended their comment periods on the proposed acquisition until May 31. Capital One doesn’t “take any signaling” from the regulators’ decision, CEO Richard Fairbank said.

    By April 26, 2024
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    First Internet Bank CEO talks M&A, BaaS work

    After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.

    By April 24, 2024
  • Bank of America CEO Brian Moynihan moderates a discussion while seated onstage.
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    Column

    Dive Deposits: Moynihan, Pick are refashioning the buttoned-up earnings call, with words

    Seven comments from executives and officials show varying degrees of unexpected boldness during banks’ most straight-laced period.

    By April 24, 2024
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    Scott Olson via Getty Images
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    Fintech One offers BNPL at Walmart stores: report

    The move presents competition for BNPL provider Affirm, which has partnered with the retail giant since 2019.

    By April 23, 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 sells Marcus Invest accounts to Betterment

    When accounts transition in June, Goldman's three-year robo-advisory experiment will end, and the bank will shed another piece of its once-nascent consumer-banking business.

    By April 23, 2024