Retail: Page 41
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Connecticut bank, fintech propose merger eyeing digital national lender
Stamford-based Patriot National Bank will pay $119 million to buy American Challenger Development Corp., a company that had been pursuing a de novo charter, in a deal announced Monday.
By Robin Bradley • Nov. 15, 2021 -
Pascal Le Segretain via Getty Images
BNP Paribas could offload Bank of the West in $15B deal
The French bank enlisted JPMorgan and Goldman Sachs to gauge interest from bidders that could include TD, Bank of Montreal, KeyBank, Royal Bank of Canada and PNC, sources told Reuters.
By Dan Ennis • Nov. 15, 2021 -
Explore the Trendline➔
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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 -
Permission granted by BankMobile
BM Technologies to buy Seattle community bank to 'accelerate earnings power'
The $23 million deal, set to close in the second half of 2022, will allow BM Technologies to supplement fee-based income with net interest income, CEO Luvleen Sidhu said.
By Anna Hrushka • Nov. 15, 2021 -
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Crypto creeps into the checkout line
Payments firms are betting on crypto's growth as an asset class to fuel crypto adoption at checkout.
By Suman Bhattacharyya • Nov. 10, 2021 -
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How neobanks are cashing in on the Gen Z market
While parents' banking habits influence their children, researchers found, the difference in those habits is getting progressively wider.
By Anna Hrushka • Nov. 10, 2021 -
Dubai bank to pay $100M to NYDFS to settle Sudan sanction violations
The regulator alleges Mashreqbank instructed its employees to omit certain details from SWIFT messages with other banks that could have linked roughly $6.5 billion in payments to the African nation.
By Robin Bradley • Nov. 10, 2021 -
First Horizon poaches its next CFO from Truist
First Horizon's CEO said Hope Dmuchowski's merger experience gives her a "unique understanding." Dmuchowski had worked at BB&T before the 2019 Truist merger. First Horizon last year merged with IberiaBank.
By Dan Ennis • Nov. 10, 2021 -
Haugland Bowen, Katie. (2014). "Houston Skyline" [Photograph]. Retrieved from Flickr.
Allegiance, CBTX eye merger to form $11B-asset bank
The all-stock deal between the two largest community banks in Houston is expected to close in the second quarter of 2022, the banks said Monday.
By Robin Bradley • Nov. 9, 2021 -
Pablo Blazquez Dominguez via Getty Images
Santander raises overdraft threshold to $100
The $89.5 billion-asset bank's new overdraft program, called Santander Safety Net, follows a recent trend of traditional institutions revamping or doing away with the fee altogether.
By Anna Hrushka • Nov. 9, 2021 -
Michael Nagle via Getty Images
Hiring tech talent a 'major priority' for Chase, CIO says
As competition heats up in the hiring space, some large banks are leveraging flexibility in the form of hybrid work schedules and larger salaries.
By Robin Bradley • Nov. 8, 2021 -
Stefani Reynolds / Stringer via Getty Images
Trade group calls for Congress to ease restrictions on hiring ex-offenders
The Bank Policy Institute wants Congress to clarify which people and jobs are covered under Section 19 of the Federal Deposit Insurance Act, which requires that ex-offenders receive FDIC approval to work at a bank.
By Anna Hrushka • Nov. 8, 2021 -
Justin Sullivan via Getty Images
Citi puts a number to its South Korea wind-down charges
The bank expects to incur between $1.2 billion and $1.5 billion through the end of 2022 — mostly related to employee buyouts — to extricate itself from retail operations in the country, it said Monday in an amended SEC filing.
By Dan Ennis • Nov. 8, 2021 -
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Longtime CBA chief Richard Hunt to step down
Hunt, whose 13-year tenure was book-ended by the Dodd-Frank rollout and the COVID-19 pandemic, plans to leave the banking lobby next summer.
By Robin Bradley • Nov. 4, 2021 -
Permission granted by Jiko
Digital bank Jiko accelerates banking-as-a-service strategy
The Jiko app is still available for consumers to download, and the company plans to keep enhancing its features, but its main use will serve as a "showroom" for Jiko's technology, CEO Stephane Lintner said.
By Anna Hrushka • Nov. 4, 2021 -
New York extends CRA requirements to nonbank mortgage companies
The move comes months after the state's Department of Financial Services found borrowers of color and low- and moderate-income communities in Buffalo were underserved by anti-redlining legislation.
By Robin Bradley • Nov. 2, 2021 -
Chris Hondros via Getty Images
JPMorgan Chase, Bank of America, TD reign in small-business satisfaction: J.D. Power
The nation's largest bank stood atop the West region for the ninth straight year — albeit in a tie with Bank of the West — the researcher found.
By Robin Bradley • Nov. 1, 2021 -
Permission granted by Greenwood Financial
Not a charity: How neobanks First Boulevard, Greenwood tackle wealth bias
"This is a bank. We're here to empower Black America, but why are you assuming that that means we're helping poor people?" First Boulevard COO Asya Bradley said at Money20/20 in Las Vegas.
By Anna Hrushka • Oct. 29, 2021 -
TD rolls out executive shakeup, names new US CEO
Leo Salom, TD's head of wealth management and insurance, will succeed Greg Braca as U.S. CEO on Jan. 1. Braca will move to a newly created role of vice chair of the bank's U.S. arm.
By Dan Ennis • Oct. 29, 2021 -
Column
How Citi and Congress have turned the past week into 'Round 2'
A warning about "significant" charges over the bank's South Korea operations — and a contentious messaging war around bank data reporting — have given recent days a sense of deja vu.
By Dan Ennis • Oct. 28, 2021 -
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Valley Bank unveils payments app for cannabis businesses
Valley Bank is partnering with a large processor to offer the service, which is similar to using a reloadable Starbucks wallet gift card, Chief Digital Product Officer Stuart Cook said.
By Anna Hrushka • Oct. 27, 2021 -
Justin Sullivan via Getty Images
Why Green Dot is bullish on brick-and-mortar retail
CEO Dan Henry said he is confident Green Dot's partnerships with select retailers that are expanding help it fulfill a need for a demographic that still relies heavily on cash.
By Anna Hrushka • Oct. 26, 2021 -
Mark Wilson via Getty Images
Pandemic widens mobile's lead as preferred way to bank, survey finds
About 44% of customers rated mobile the top option since the pandemic began — an 11-point jump from pre-COVID times, according to the ABA. Over that time, in-branch visits fell by the same margin.
By Robin Bradley • Oct. 26, 2021 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo aims to debut revamped mobile app, virtual assistant next year
The bank's digital user interactions trail JPMorgan and Bank of America. But Wells last year brought onboard an executive who helped develop BofA's Erica.
By Dan Ennis • Oct. 25, 2021 -
Permission granted by Citigroup
Citi agrees to undergo racial audit
The bank joins institutions such as BlackRock and Morgan Stanley in agreeing to such a probe. Shareholders held off on the prospect of a racial audit in April, with the motion gaining 38% approval.
By Robin Bradley • Oct. 25, 2021 -
Drew Angerer via Getty Images
DOJ, CFPB and OCC link up to crack down on redlining
Jackson, Mississippi-based Trustmark Bank told the agencies it would pay $5 million to settle allegations it engaged in discriminatory lending practices from 2014 to 2018.
By Anna Hrushka • Oct. 22, 2021
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