Climate First Bank finds fintech partner with a similarly green mission

Atmos launched in January with a savings product, and allows customers to donate to 41 climate, clean energy and sustainability nonprofits directly from their accounts.

By Anna Hrushka • May 12, 2021

Amalgamated Bank names its next CEO

Priscilla Sims Brown, now group executive of marketing and corporate affairs at Commonwealth Bank in Australia, negotiated and managed stadium naming rights with the NFL's Miami Dolphins while working at Sun Life Financial.

By Dan Ennis • May 12, 2021

Explore the Trendline➔

Artificial intelligence

Banks must decide whether to forge AI tools in-house or partner with outside firms. AI’s importance can’t be understated, but legacy tech may also constrain the budget for banks looking to innovate.

By Banking Dive staff

Traditional banks mirror challengers with new digital offerings

"There's a story behind every one of these kinds of overdrafts," said Jimmy Stead, chief consumer banking officer at Frost Bank, which launched an overdraft grace feature last month.

By Anna Hrushka • May 7, 2021

California regulator orders Chime to stop calling itself a bank

The fintech has until May 15 to revise its website and advertising in accordance with the California regulator's order and has until June 15 to perform quality control and testing of the changes.

By Anna Hrushka • May 6, 2021

Inside Boston’s turn as ground zero for M&A in 2021

Geographic expansion and desire for scale have spurred four deal announcements in as many months around New England's hub.

By Anna Hrushka • May 5, 2021

Massachusetts credit union blends tech, financial-coaching focus

Workers Credit Union's latest branches feature interactive holograms, video ATMs — and employees aiming to de-stigmatize money.

By Anna Hrushka • May 4, 2021

FDIC bans former Bank of the West banker over loan fraud

The regulator said Mark Wong made fraudulent loans in the names of bank customers without their authorization or knowledge while serving as a vice president and business banking officer at the BNP Paribas subsidiary.

By Anna Hrushka • May 3, 2021

How Quontic Bank adapts to crypto, remote work and wearable tech

Since purchasing the institution in 2009, CEO Steven Schnall, an entrepreneur and former mortgage banker, has been molding the bank to reflect his vision.

By Anna Hrushka • April 30, 2021

Senate Democrats call on OCC to revoke Trump-era 'true lender' rule

Supporters of the rule say it provides regulatory clarity and expands access to credit, while Democrats and consumer advocates argue it allows nonbanks to take advantage of vulnerable borrowers.

By Anna Hrushka • April 29, 2021

Wells Fargo shareholders give tepid pass to bank's pay packages

A proxy adviser recommended investors reject the bank's high salaries and slighter reliance on performance-based stock awards. Other gripes could stem from a dip in net income or the lack of an end date for the bank's asset cap.

By Dan Ennis • April 29, 2021

Neobank Current adds crypto to product roadmap after $220M funding boost

"There is a need and a demand for a company like Current to explain and shepherd people into this new world," CEO Stuart Sopp said.

By Anna Hrushka • April 28, 2021

Barclays US to offer merchants buy-now-pay-later feature

"We plan to use this to supercharge our growth and give our partners and our customers more options to buy stuff with," said Barclays US CEO Denny Nealon.

By Anna Hrushka • April 27, 2021

New York Community Bank to buy Flagstar in $2.6B all-stock deal

The combined bank will have over $87 billion in assets and operate nearly 400 branches in nine states and 87 loan production offices across a 28-state footprint.

By Anna Hrushka • April 26, 2021

Marcus starts its rebuilding year

Goldman Sachs's digital bank rehires its former risk chief and promotes others on its "deep" bench as rumors swirl surrounding the parent company's investment in U.K. startup Starling.

By Dan Ennis • April 23, 2021

JPMorgan faces reputation 'cleanup' ahead of UK digital bank launch

"We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future," a JPMorgan spokesperson said Friday. "We will learn from this."

By Anna Hrushka • Updated April 23, 2021

JPMorgan expects July rotating return for US employees

"We know that many of you are excited to come back, but we also know that for some, the idea of coming in on a regular basis is a change through which you'll need to manage," the bank's operating committee wrote in a memo Tuesday.

By Dan Ennis • Updated April 27, 2021

JPMorgan-backed European Super League unravels

The biggest U.S. bank agreed to underwrite up to $4.8 billion in the endeavor. Backlash has been harsh in the U.K., where the lender plans to launch a digital platform. The bank's corporate sustainability rating has even taken a hit.

By Anna Hrushka • April 21, 2021

Policy questions remain as global governments explore CBDCs

Bank Policy Institute's chief examines the impact and drawbacks of various models of digital coin as the Fed and other countries forge ahead.

By Anna Hrushka • April 19, 2021

Webster Bank to buy Sterling in $5.1B all-stock deal

The transaction, set to close in the fourth quarter, would create a bank with about $63 billion in assets. The CEOs of both banks will serve two-year alternating terms in the new entity's top roles.

By Dan Ennis • April 19, 2021

PNC reports $1.8B Q1 profit, forges ahead with BBVA deal

PNC CEO Bill Demchak said the bank is on track to complete its acquisition of the Spanish lender's U.S. arm by midyear, adding he thinks the current economic environment will give rise to more acquisition opportunities.

By Anna Hrushka • April 16, 2021

Barclays drops its role as lead underwriter in prison bond sale

Two advocacy groups terminated the bank's membership and refunded its dues last week, while 30 activists castigated the U.K. lender for seemingly going back on a 2019 promise.

By Dan Ennis • Updated April 19, 2021

Truist sees Q1 boost over insurance acquisitions, investment-banking boon

Truist's Insurance Holdings division reported a 400% increase in net income for the quarter — to $131 million from $26 million in 2020's comparable three-month span.

By Anna Hrushka • April 15, 2021

Bank of America's Q1 profits double as it reinstates pre-COVID credit standards

The bank released $2.7 billion in loan loss reserves, but saw a 15% jump in noninterest expenses, driven by COVID-19-related costs, including incentive changes, real estate charges and compensation boosts for associates.

By Suman Bhattacharyya • April 15, 2021

Citi looks to exit 13 retail markets, hire 2,300 in Asia wealth push

The bank's effort to boost its assets under management in Asia to $450 billion by 2025 means the segment would have to grow at about triple the rate Citi has seen there since 2015.

By Dan Ennis • Updated April 19, 2021

Another Marcus exec flees — this time, to JPMorgan Chase

The departure of the digital bank's head of product is being followed closely by that of Goldman's communications chief, who is leaving after nine years.

By Dan Ennis • Updated April 16, 2021