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Mario Tama / Staff via Getty Images
BNY Mellon expects to lose $200M in Russia pullback
The custody bank Thursday said it would halt new banking business in Russia and suspend investment management purchases of Russian securities in a move that aligns it with the likes of Citi, Goldman Sachs and JPMorgan Chase.
By Dan Ennis • March 18, 2022 -
Permission granted by Truist
Huntington poaches Truist retail banking chief
Truist, meanwhile, promoted its chief digital officer to lead the Charlotte, North Carolina-based bank's retail and community banking and marketing efforts.
By Robin Bradley • March 18, 2022 -
Explore the Trendline➔
wildpixel via Getty Images
TrendlineThe 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 -
Retrieved from Consumer Financial Protection Bureau.
CFPB expands enforcement of unfair discrimination
The agency on Wednesday unveiled an updated exam manual for evaluating unfair practices in the world of consumer finance.
By Robin Bradley • March 17, 2022 -
Chris Hondros via Getty Images
JPMorgan Chase drops ban on unvaccinated new hires
The bank, in a memo Monday, said it will stop mandatory twice-weekly testing of unvaccinated employees April 4, and no longer require unvaccinated workers to wear face masks, effective immediately.
By Robin Bradley • March 15, 2022 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo gives CEO Scharf a 20% pay boost to $24.5M
The compensation package makes him the fifth-best-paid chief executive among the six largest U.S. banks — trailing all but Citi's Jane Fraser.
By Dan Ennis • March 15, 2022 -
Zhanna Hapanovich via Getty Images
Arizona deal marks 5th credit union purchase of bank in 2022
At the current pace, 26 credit union-bank tie-ups could be in the works by the end of the year, far surpassing 2019's record.
By Robin Bradley • March 14, 2022 -
Mark Wilson via Getty Images
Capital One's general counsel wears 2 new hats
The McLean, Virginia-based bank has seen two other high-profile exits from its legal department in the past two weeks.
By Robin Bradley • March 11, 2022 -
Mario Tama / Staff via Getty Images
BNY Mellon CEO Todd Gibbons to retire Aug. 31
Robin Vince, a 26-year Goldman Sachs veteran who joined BNY Mellon in 2020, will take the bank's top role.
By Robin Bradley • March 10, 2022 -
Permission granted by U.S. Bank
U.S. Bank looks to assuage community advocates at merger hearing
CEO Andy Cecere said the bank intends to invest $100 billion over five years into the communities it touches and vowed not to desert any low- to moderate-income areas in California by acquiring MUFG Union Bank.
By Dan Ennis • March 9, 2022 -
Permission granted by Huntington Bank
Huntington to cut overdraft fees from $36 to $15 starting in July
The Columbus, Ohio-based bank is also launching a feature next month to give users immediate access to up to $500 from check deposits.
By Dan Ennis • March 9, 2022 -
Justin Sullivan via Getty Images
Citi names next chief compliance officer
Tom Anderson, who now serves as chief compliance officer for the bank's personal banking and wealth management division, returned to Citi last year after stints at American Express and JPMorgan Chase.
By Robin Bradley • Updated May 12, 2022 -
Stacking up bank CEO pay in Canada vs. the US
Chief executives at the top five Canadian banks saw a 28.2% raise, on average, that exceeds their U.S. counterparts. However, American CEOs average more than three times the compensation.
By Dan Ennis • March 8, 2022 -
Pablo Blazquez Dominguez via Getty Images
Santander's US consumer lending arm discloses accounting errors
The auto lender miscategorized cash flows in 2021, owing to a "material weakness" in the company’s financial reporting.
By Robin Bradley • March 7, 2022 -
As branches dwindle, larger bank offices are harder to offload
Bank branches under 4,000 square feet are selling at a higher price than 2015, whereas branches larger than 4,000 feet are selling at their 2015 level or lower, tax services provider Ryan found.
By Robin Bradley • March 4, 2022 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo's brand management chief is leaving May 1
Barri Rafferty's "innovative approach to communications" helped the bank achieve "enhanced favorability, trust and ... media sentiment," Bill Daley, the bank's vice chairman of public affairs, wrote in a memo.
By Robin Bradley • March 3, 2022 -
Permission granted by Citigroup
At investor day, Citi makes a plea for time
The bank warned of $4 billion in potential losses and an uptick in expenses from tech investments and hiring. But it also adjusted expectations for a return on tangible common equity.
By Dan Ennis • March 3, 2022 -
Fox photos via Getty Images
Longtime United Bank CEO Richard Adams to leave top role
Adams, who has led the bank for nearly 47 years, will become executive chair of its board April 1, when his son succeeds him as CEO.
By Robin Bradley • March 2, 2022 -
Citi has a $9.8B Russia headache
In the wake of Russia’s invasion of Ukraine, the bank warned investors of exposure that includes loans, securities, funding commitments and cash at the country's central bank.
By Dan Ennis • March 1, 2022 -
Drew Angerer / Staff via Getty Images
TD to acquire First Horizon in $13.4B deal
The transaction, expected to close in the fall, would expand the Canadian bank's Southeast footprint, adding $55 billion in loans and $75 billion in deposits to its balance sheet and making it the U.S.'s sixth-largest retail bank.
By Robin Bradley • Feb. 28, 2022 -
Citi becomes largest US bank to eliminate overdraft fees
The bank is set to supplant Capital One over the summer as the largest U.S.-based financial institution to do away with the fees.
By Robin Bradley • Feb. 25, 2022 -
Justin Sullivan via Getty Images
Citi calls vaccinated workers back to office March 21
The bank's human resources chief credited a steady decline in the COVID-19 caseload and decreased risk for vaccinated workers in the decision to place employees on site at least two days a week.
By Dan Ennis • Feb. 24, 2022 -
Ex-Goldman banker's 1MDB trial paused over late-breaking evidence
Prosecutors said they learned Tuesday night that a Justice Department unit did not share with them or Roger Ng's defense lawyers 15,500 documents belonging to the government's star witness in the case.
By Dan Ennis • Feb. 24, 2022 -
Permission granted by SoFi
SoFi to buy banking software firm Technisys for $1.1B
The deal would give the newly minted bank control of its platform's back-end technology. The transaction could generate $800 million in additional revenue by 2025, the company said.
By Robin Bradley • Feb. 22, 2022 -
Mario Tama / Staff via Getty Images
BNY Mellon poaches treasury services CEO from JPMorgan
Jennifer Barker, a 19-year JPMorgan veteran, takes on a role held until August by Paul Camp, who left BNY Mellon for Wells Fargo.
By Robin Bradley • Feb. 17, 2022 -
Paul Morigi via Getty Images
ColumnA new, understated Goldman tweaks its strategy
The bank updated its targets for return on tangible common equity, consumer banking revenue and asset management in a less splashier fashion than its 2020 investor day.
By Dan Ennis • Feb. 17, 2022
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