Challenger bank Chime valued at $5.8B, a nearly fourfold jump from March

Chime CEO Chris Britt plans to use the capital to develop new products and double the bank's employee count by the end of 2020, sources said. The bank will also consider acquiring other fintechs.

By Anna Hrushka • Dec. 6, 2019

Wells Fargo names Santander executive COO

Scott Powell, who is set to start at Wells Fargo on Dec. 9, will fill a position that has been vacant since Tim Sloan became the bank's CEO in October 2016.

By Anna Hrushka • Dec. 3, 2019

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

Banks eye a bigger helping of holiday retail point-of-sale pie

Citi, JPMorgan Chase and Mastercard have expanded their loan options this year to fend off upstarts and entice interest-averse buyers.

By Hillary Richard • Dec. 3, 2019

Think globally: 4 tips for payment success

Keeping up with innovation and limiting cross-border friction can be crucial to growth, writes BlueSnap CEO Ralph Dangelmaier.

By Ralph Dangelmaier • Dec. 2, 2019

Bank branch closures leave deeper void in rural counties, Fed says

Most of the 39 rural counties that lost half or more of their bank branches from 2012 to 2017 have lower median incomes and a higher share of African-Americans, according to the report.

By Kate Patrick • Nov. 27, 2019

JPMorgan Chase files blockchain patent to track vehicle inventory

The technology is meant to prevent double flooring, which happens when a dealership pledges a vehicle as collateral in two separate contracts to different banks.

By Anna Hrushka • Nov. 26, 2019

62% of Americans would try banking with tech companies, survey says

Banking loyalty can be hard to track. Departing customers may not completely cut ties but may keep an open account while doing business with disruptors, according to Bain & Company.

By Dan Ennis • Nov. 25, 2019

Bank of America CEO: People still want regulation, security amid tech competition

"If you take deposits, make loans ... you end up with a lot of people's money," Moynihan says. "And if something goes kablooey, it's a problem."

By Anna Hrushka • Nov. 25, 2019

In fintech partnerships, should banks' brands be out front or in background?

Banks that stay behind the scenes risk being relegated to a commodity. But fintechs that take the lead may be looking for something more.

By Anna Hrushka • Nov. 22, 2019

5 questions with Bill Budde, ATM manufacturer Hyosung's VP of product marketing

"Banking is still a very in-person business for a lot of customers," Budde said at the Future Branches conference in Austin, Texas. "Customers still choose their bank based on the proximity of a bank branch."

By Anna Hrushka • Nov. 21, 2019

Fed, FDIC approve BB&T-SunTrust merger

The deal to create the sixth-largest U.S. bank is expected to close Dec. 6, but on several conditions: The Fed issued a consent order against SunTrust regarding "misleading or inaccurate statements" made to business customers from 2013 to 2017.

By Anna Hrushka • Nov. 19, 2019

PNC eyes ‘aggressive’ consolidation as customer behavior shifts

The 2008 purchase of National City adds to the bank's urgency to make "tough decisions" about branches, says Dawn Fabian, PNC's retail transformation manager. 

By Anna Hrushka • Nov. 19, 2019

American Express offers merchants up to $450K sign-on bonus to boost acceptance

Businesses often cite AmEx's higher interchange fee as a reason to stick with Mastercard and Visa, but the company is on a years-long mission to catch up with other payment networks by the end of the year.

By Dan Ennis • Nov. 19, 2019

Amazon abandons plan for checking accounts

The tech giant told JPMorgan Chase, one of its potential partners in the initiative, it was concerned it would be subject to banking regulations, according to a report from The Information.

By Dan Ennis • Nov. 18, 2019

Incessant drive for growth widens bank-client gulf, Grasshopper CEO says

Entrepreneurs who are used to consumer banking features are left wanting when they aren't able to find the same quality on the commercial side, says the bank's chief, Judith Erwin.

By Anna Hrushka • Nov. 15, 2019

NJ governor creates board to establish public bank

Democratic Gov. Phil Murphy campaigned on the idea two years ago. But opponents say he could move taxpayer funds out of overseas financial institutions and into state ones without creating another bank.

By Dan Ennis • Nov. 14, 2019

Ignoring female consumers costs financial industry $700B a year

The Women in Financial Services 2020 report found the industry's products are not consistently designed for women's financial lives.

By Anna Hrushka • Nov. 12, 2019

Apple Card under investigation for alleged gender discrimination

Customers, such as software developer David Heinemeier Hansson, took to Twitter to complain the credit line offered by his Apple Card was 20 times higher than what was offered to his spouse.

By Anna Hrushka • Nov. 11, 2019

SunTrust selling 30 branches to satisfy DOJ antitrust concerns over BB&T merger

First Horizon will assume approximately $2.4 billion in deposits for a deposit premium of 3.4%, and will purchase about $410 million in loans.

By Anna Hrushka • Nov. 8, 2019

Why banks should take user experience cues from nonbanks

“If Amazon is doing something, and it works, we should at least try it," SunTrust's Andy Vitale said during a Bank Innovation Build panel on designing a dynamic customer experience.

By Anna Hrushka • Nov. 8, 2019

How banks and fintechs can balance security, safety and convenience

In a wide-ranging discussion during Bank Innovation Build, panelists weighed in on how to protect data for financial institutions, with some offering tips and best practices.

By Anna Hrushka • Nov. 7, 2019

7 questions with SunTrust CMO Susan Somersille Johnson

The executive spoke with Banking Dive about fintech partnerships, the challenges that come with a major rebrand, and how tech is transforming the bank’s marketing efforts.

By Anna Hrushka • Nov. 6, 2019

First Horizon to acquire IberiaBank in $3.9B all-stock deal

The "merger of equals," set to close July 1, will make Memphis, Tennessee-based First Horizon one of the top 25 banks in the country by asset size.

By Anna Hrushka • Updated June 16, 2020

Capital One outage blocks customers' direct deposits, cash withdrawal

The service disruption has been resolved, a bank spokesperson said. But the outage came at a confluence of inconvenient times: a Friday, which is payday for many people — and the first day of the month, when many pay their bills.

By Anna Hrushka • Nov. 1, 2019

House bill would require bank CEOs to report to Washington annually

The Greater Supervision in Banking Act would also force top banks to disclose any enforcement or regulatory actions taken against them over the past year.

By Anna Hrushka • Nov. 1, 2019