Retail: Page 53
-
BBVA partners with Prosper on digital HELOC platform
Early results indicate the digital solution is helping BBVA close home equity lines of credit 14 days faster on average when compared to turn times on applications submitted in other channels, the bank said.
By Anna Hrushka • Nov. 11, 2020 -
Kendall Davis/Industry Dive/Banking Dive, data from Marc Nozell
Bank executives, trade groups react to Biden-Harris victory
Several bank and credit union trade groups, as well as top bank executives, not waiting on a Trump concession, have released statements and congratulatory posts on the highly contested 2020 election.
By Anna Hrushka • Nov. 9, 2020 -
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 -
Permission granted by Office of the Comptroller of the Currency
Ex-SoFi CEO's company Figure seeks national bank charter
The company issues home equity lines of credit on a private blockchain network. But it also plans to pilot a small-dollar installment-loan product in January targeting the unbanked.
By Dan Ennis • Nov. 9, 2020 -
Courtesy of TIAA Bank
TIAA Bank aims to reach unbanked with grade-school financial literacy program
The 12-week course runs in more than 100 schools, including in Puerto Rico, which is well outside of the bank's CRA assessment area but still reeling from 2017's Hurricane Maria.
By Anna Hrushka • Nov. 4, 2020 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo picks Capital One executive to head diversity efforts
The appointment comes after CEO Charlie Scharf apologized for citing a shortage of diverse talent when aiming to double Black leadership at the bank. The Labor Department has questioned that initiative.
By Anna Hrushka • Nov. 3, 2020 -
Capital One to let most US call-center workers stay remote after pandemic
The move further illustrates a divide between investment-heavy banks such as JPMorgan Chase that pushed to repopulate offices and card-heavy models such as American Express that are keeping employees home longer.
By Dan Ennis • Oct. 30, 2020 -
Pandemic could accelerate de novos' profitability timeline, experts say
Customers' increased adoption of digital banking amid the pandemic, and the realization banks can operate with less physical space, have enabled de novos to tailor their operating models to a new normal, one attorney said.
By Anna Hrushka • Oct. 30, 2020 -
Bank of America ends $200 pandemic pay for front-line workers
The nation's second-largest bank will continue to give employees $100 per day for child or elder care. The move comes as TD Bank promises $500 bonuses to about 90,000 workers for their pandemic efforts.
By Anna Hrushka • Updated Oct. 30, 2020 -
Permission granted by SoFi
SoFi gets OCC's preliminary approval for bank charter, launches credit card
The card will offer up to 2% cash back when rewards are redeemed to pay down student loans or personal loans financed through the company. SoFi's charter application still needs sign-off from the FDIC and Federal Reserve.
By Anna Hrushka • Oct. 29, 2020 -
Truist's new CMO looks to 'meet the moment where it is'
A big challenge is ensuring the bank's tone and narrative "fits where all of us are as a community," said Vinoo Vijay, who previously held marketing roles at H&R Block, TD Bank, Ally Financial, Bank of America and FedEx.
By Anna Hrushka • Oct. 27, 2020 -
Courtesy of Fifth Third
Fifth Third names president, sparking succession speculation
Impending retirements and health crises among top executives at two of the nation's four largest banks have made succession top of mind in the past year.
By Dan Ennis • Oct. 27, 2020 -
Alabama Extension. (2020). "The image" [Photograph]. Retrieved from Flickr.
-
Banks moving into branchless towns amp up community ties
From sponsoring Little League and Girl Scouts initiatives to helping a local library recover from a fire, small banks show deep roots when moving into banking deserts.
By Ken McCarthy • Oct. 26, 2020 -
Fintechs hopeful as CFPB seeks to modify data access rule
Section 1033 of the Dodd-Frank Act won't prevent banks from overstepping their authority and blocking consumers from sharing their data with certain companies, fintechs argue.
By Anna Hrushka • Oct. 23, 2020 -
Courtesy of FDIC
Regulators finalize rule requiring big banks to keep year's worth of liquidity
Most of the nation's 20 largest banks already meet the rule's demands, regulators said. However, at least one bank — unidentified — needs to come up by 8%.
By Anna Hrushka • Oct. 21, 2020 -
Pandemic could reverse uptick in banked households, FDIC says
"[F]indings from multiple years of the survey suggest that the unbanked rate is likely to rise as the unemployment rate rose from its level prior to the pandemic," said the agency's chairman, Jelena McWilliams.
By Anna Hrushka • Oct. 20, 2020 -
Retrieved from Unsplash.
Regulators close Florida's First City Bank, 2020's 3rd bank failure
The bank's chairman and CEO in January attributed its struggles to the 2008 financial crisis and the Deepwater Horizon oil spill.
By Anna Hrushka • Oct. 19, 2020 -
Permission granted by Varo Money
Varo Bank launches small-dollar loan product
Varo's new product follows Bank of America's rollout this month of Balance Assist, and comes as regulators have encouraged banks to issue small-dollar loans amid the ongoing coronavirus pandemic.
By Anna Hrushka • Oct. 16, 2020 -
Permission granted by Truist
Truist posts $1.1B profit, continues merger-related job cuts and branch closures
The Charlotte, North Carolina-based bank cut 769 jobs during the third quarter and plans to close 104 branches in December and January, it said Thursday.
By Anna Hrushka • Oct. 15, 2020 -
TD Bank files motion to dismiss Plaid case
A U.S. district court set a June 7 deadline to rule on the motion, but TD's filing did not give any details on the settlement between the Canadian lender and the data aggregator.
By Dan Ennis • Updated May 3, 2021 -
Permission granted by Office of the Comptroller of the Currency
OCC fines USAA $85M over compliance, IT failures
"[W]e did not sufficiently invest in the capabilities and expertise necessary to meet regulatory requirements and evolving business needs," USAA CEO Wayne Peacock said.
By Anna Hrushka • Oct. 15, 2020 -
Wells Fargo fires up to 125 employees over misuse of EIDL aid
The terminations come a month after fellow banking titan JPMorgan Chase launched an internal investigation that found more than 500 of its employees accessed the program's funds, though dozens shouldn't have.
By Dan Ennis • Oct. 15, 2020 -
Bank of America profit tumbles 16% despite consumer spending rebound
Profit has fallen 15% or more for the third straight quarter at the nation's second-largest bank, but loan-loss set-asides, at $1.4 billion, are down 73% from three months earlier.
By Suman Bhattacharyya • Oct. 14, 2020 -
PNC sees bump in Q3 revenue as bank reaches 'stable reserve levels'
After padding its loan-loss reserves over the past two quarters, the Pittsburgh-based lender set aside $2.4 billion less than it did in the previous three months.
By Anna Hrushka • Oct. 14, 2020 -
U.S. Bank confirms branch closure acceleration
The Minneapolis-based lender originally sought to reduce its footprint by 10% to 15% by early 2021. Now the bank wants to close an additional 15% of its branches, on top of the 10% it has shuttered, in the same time frame.
By Ken McCarthy • Oct. 14, 2020
Previous
