BNP Paribas tracking London office badge swipes: report

"Many of our competitors have already implemented similar measures,” the bank said in a memo to BNP employees, according to Reuters.

By Gabrielle Saulsbery • Sept. 28, 2023

DOJ probes UBS, Credit Suisse over sanctions breaches

Credit Suisse’s alleged compliance issues may have caused some Russian clients to avoid sanctions, resulting in a Department of Justice investigation, Bloomberg reported.

By Gabrielle Saulsbery • Sept. 27, 2023

Explore the Trendline➔

The Banking Dive Outlook on 2022

Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.

By Banking Dive staff

Chase digital bank to ban crypto payments for UK customers

“If we think you're making a payment related to crypto assets, we'll decline it,” Chase U.K. told customers in an email reported by CoinDesk.

By Gabrielle Saulsbery • Sept. 26, 2023

Does ‘Get on board ... or get off’ mean the death of ‘soft skills Citi’?

CEO Jane Fraser's blunt comments earned her a comparison to Jamie Dimon. But those who see this as a 180 from the bank that championed flex work may have forgotten Citi's COVID vaccine stance. 

By Dan Ennis • Sept. 25, 2023

Varo aims to displace Venmo, Cash App volume with new P2P feature

The bank on Thursday launched a feature enabling Varo account holders to instantly transfer funds at no cost to anyone with a U.S. debit card.

By Anna Hrushka • Sept. 21, 2023

Bank of America boosts minimum hourly wage to $23

If the bank reaches its target of paying $25 per hour to its lowest-earning employees by 2025, it will have raised its minimum wage by 121% since 2010, it said.

By Rajashree Chakravarty • Sept. 21, 2023

Bank of Utah faces embezzlement lawsuit

Clients of Stephen Swensen, a once-respected financial adviser accused of swindling $29 million, named the bank in a lawsuit and claimed it was aware of a years-long Ponzi scheme uncovered by the SEC.

By Gabrielle Saulsbery • Sept. 21, 2023

Goldman in advanced talks to sell GreenSky: reports

The group of potential buyers includes investment firms Sixth Street, Pimco and KKR, according to The Wall Street Journal. A deal would be worth roughly $500 million, the outlet’s sources said.

By Dan Ennis • Sept. 20, 2023

Eastern Bank to buy Cambridge Bancorp for $528M

The merger will create a $27.1 billion combined company, without Eastern’s insurance operations, which will be sold to global insurance brokerage firm Arthur J. Gallagher & Co. for $510 million.

By Gabrielle Saulsbery • Sept. 20, 2023

Rakuten withdraws bid for NCUA charter

The Japanese e-commerce firm previously tried three times to gain a charter via an industrial loan company application, only to withdraw each bid months later.

By Anna Hrushka • Sept. 19, 2023

Santander retools its structure

The bank is consolidating its retail and commercial business into a new global unit and creating a global digital consumer banking division in a move meant to enhance profitability.

By Dan Ennis • Sept. 19, 2023

BMO winding down indirect auto loans

The move by the Canadian lender appears to be on-trend, with other lenders also stepping away from their indirect auto loan businesses in a challenging market.

By Gabrielle Saulsbery • Sept. 18, 2023

Wells Fargo ex-exec Tolstedt avoids prison time

A federal judge sentenced the former retail-banking chief to six months of home confinement and three years of probation for her role in connection with the bank's 2016 fake-accounts scandal.

By Dan Ennis • Sept. 15, 2023

No buyer for Laurentian Bank after strategic review

Canada's ninth-largest bank will instead increase its "focus on efficiency and simplification."

By Gabrielle Saulsbery • Sept. 15, 2023

USAA poised to offer no-interest loans as government shutdown looms

USAA said the loans are aimed at assisting customers who are likely to experience a paycheck disruption in the event of a government shutdown.

By Anna Hrushka • Sept. 15, 2023

Citi reboots its management chain

The bank scrapped a structure that split its business between two units, opting instead for five unit chiefs reporting directly to CEO Jane Fraser.

By Dan Ennis • Sept. 13, 2023

Citizens to launch private bank

The Providence, Rhode Island-based lender has gravitated toward the wealthy in recent years, with wealth management acquisitions in 2018 and 2022. Its own full-service private bank is planned for Q4.

By Gabrielle Saulsbery • Sept. 12, 2023

Truist plans ‘sizable reductions’ in jobs, unveils $750M in cost savings

The bank wants to save $200 million by 2025 through reducing tech spend. It also plans to consolidate certain business lines, scale back its brick-and-mortar presence and cut four division heads by next quarter.

By Anna Hrushka • Sept. 12, 2023

Ripple makes its 2nd acquisition of 2023

The crypto firm on Friday agreed to buy Fortress Trust, a regulatory and technology infrastructure provider for blockchain companies. Ripple in May bought crypto custody company Metaco.

By Gabrielle Saulsbery • Sept. 11, 2023

Barclays set to cut hundreds in two-pronged effort: reports

The bank will trim roughly 450 roles in its U.K. retail unit, a labor union said. Barclays could also dismiss up to 5% of client-facing staff in its trading division, according to Bloomberg.

By Dan Ennis • Sept. 11, 2023

Goldman may cut 450 or more employees in October: report

Managers across the bank have drafted lists of bottom performers in preparation for a cut of between 1% and 5% of workers, sources told the Financial Times, but numbers are not final.

By Dan Ennis • Sept. 8, 2023

First Citizens folds SVB Private into wealth-management unit

Michael Wilson, who has led First Citizens Wealth for the past decade, will take over SVB Private, the private-banking and wealth-management unit that once belonged to the failed Silicon Valley Bank.

By Anna Hrushka • Sept. 8, 2023

Goldman’s strategy retreat leaves GreenSky in limbo

The installment-lending fintech, which Goldman is looking to sell, faces an uncertain future as the investment bank distances itself from an ambitious retail strategy.

By Anna Hrushka • Sept. 7, 2023

Finotta uses gamification to increase banks’ user engagement

The embedded fintech says its personalized financial guidance platform has helped boost user engagement on banks’ mobile apps.

By Rajashree Chakravarty • Sept. 6, 2023

USAA notches latest mobile-deposit victory with Discover deal

The agreement lets Discover access 130 USAA patents and continue offering remote deposit capture technology. USAA has notched nine-figure court wins against Wells Fargo and PNC over similar patents.

By Anna Hrushka • Sept. 6, 2023