The right way to improve retail banking using mystery shoppers

The goal isn't to catch frontline staff doing something wrong, but to provide a picture of what good performance looks like. 

By Robert Freedman • Feb. 19, 2020

JPMorgan Chase invests $75M to prepare youth for money-making careers

"[B]usinesses, government and communities must work together to prepare young people for the future of work," a company spokesperson said.

By Sheryl Estrada • Feb. 18, 2020

Explore the Trendline➔

Top 5 stories from Banking Dive

Amid a swell of activity, financial institutions large and small are leaning into their aspirations. For PNC, it’s scale. For some fintechs, it’s a charter. For Millbury National Bank, it may simply be niceness.

By Banking Dive staff

Keeping the banking desert at bay in rural America

As big banks concentrate their branches in cities, smaller financial institutions and digital companies find ways to irrigate in abandoned markets.

By Anna Hrushka • Feb. 18, 2020

HSBC to cut 35K jobs in major restructuring

The London-based bank said it will scale back its presence in the U.S. and mainland Europe, reduce the size of its investment bank and invest more in its Asian and Middle Eastern operations. 

By Anna Hrushka • Feb. 18, 2020

Banks squeezed as unemployment in their ranks effectively reaches 0%

Executives try to find the right balance between cutting costs and attracting and retaining talent while low interest rates keep income down. 

By Robert Freedman • Feb. 18, 2020

Royal Bank of Scotland rebrands, deepens climate pledge

In changing its name to NatWest Group, the bank is looking to distance itself from a near-collapse in 2008 that has left it 62% government-owned to this day.

By Dan Ennis • Feb. 14, 2020

JPMorgan gives fintechs July deadline to sign new data access agreements

The move shows the nation's largest bank is following through on its plan to tighten security around customer data.

By Anna Hrushka • Feb. 14, 2020

Wells Fargo ends mandatory arbitration for workplace sexual harassment

Companies use mandatory arbitration clauses to resolve disputes outside of the court system. Critics say the practice helps keep complaints from coming to light.

By Anna Hrushka • Feb. 13, 2020

Wells Fargo splits wholesale, consumer banking units

The restructuring marks Wells Fargo's first overhaul under CEO Charlie Scharf, who has prioritized regaining regulatory trust and repairing the bank’s damaged image.

By Anna Hrushka • Feb. 12, 2020

'Stickiness' of Bask Bank's airline perk may help it spread, analyst says

Customers were finding interest rates uninteresting. So the Dallas bank sought a way to help them save for tomorrow, yet live for today.

By Anna Hrushka • Feb. 7, 2020

Citi edges Bank of America to top J.D. Power financial advice survey

The nation's five largest banks took all but one of the six highest rankings, thanks to improvements in their digital tools, research firm J.D. Power said. 

By Dan Ennis • Feb. 7, 2020

Wells Fargo, Upstart criticized after study finds loan disparities

Five senators are asking Upstart's CEO to show how the company tests its credit model for fair lending after a nonprofit claimed black borrowers were charged more than other people with identical credit profiles.

By Dan Ennis • Updated Feb. 14, 2020

CFPB seeks $39M restitution, $7 fine from payday lender Think Finance

The enforcement action comes amid a flurry of activity for the bureau, which sued Citizens Bank last week. Oral arguments in the Supreme Court case regarding the agency's structure are set for March 3.

By Anna Hrushka • Feb. 6, 2020

Miami drops reverse redlining claims against top 4 banks

The city claimed it lost tax revenue and was forced to pay to maintain foreclosed properties after Wells Fargo, Bank of America, Citi and JPMorgan allegedly targeted nonwhite homeowners for mortgages they couldn't afford.

By Dan Ennis • Feb. 4, 2020

Competition intensifies in immigrant banking market

As the digital bank Majority expands nationwide, the remittance company Remitly launches Passbook, a bank aimed at first-generation Americans.

By Anna Hrushka • Feb. 4, 2020

Goldman Sachs, Amazon reportedly explore small-business loan deal

The bank aims to expand its set of loan products beyond those offered by the Apple Card and digital bank Marcus, it said during last week's investor day.

By Dan Ennis • Feb. 3, 2020

Texas Capital Bank launches digital bank with American Airlines perks

In the current low-rate environment, the Dallas-based bank says it aims to attract customers that want more than a traditional savings account that only returns "pennies on the dollar."

By Anna Hrushka • Feb. 3, 2020

Truist seeks more time to reach $1.6B post-merger net savings goal

The nation's sixth-largest bank reported a 7% decrease in net income in its first earnings call after the merger of BB&T and SunTrust.

By Anna Hrushka • Jan. 31, 2020

Deutsche takes $5.8B loss but sees hope in bond-trading jump

Germany's largest lender made several recent changes to compensation. It's delaying pay raises by three months and cutting its bonus pool. But top execs may take home at least a portion of their bonuses.

By Dan Ennis • Jan. 30, 2020

Goldman Sachs Investor Day: 'Embracing the bank model,' but which bank?

Ambitious goals. New revenue streams. Cost cutting. The bank's first-of-its-kind event delivered a little of everything — except excitement.

By Dan Ennis • Jan. 30, 2020

Otting's defense of CRA revamp ignites partisan rift at hearing

House Democrats questioned the comptroller's willingness to cooperate, while Republicans praised his efforts to modernize the low-income lending rule.

By Anna Hrushka • Jan. 30, 2020

JPMorgan Chase plans to cut hundreds of jobs in consumer division

Reductions at the nation's largest bank could indicate last year's trend is spilling over into 2020, as financial institutions pare their workforce to adapt to digital banking and global uncertainty.

By Anna Hrushka • Jan. 29, 2020

Zelle reports adding 100 financial institutions last quarter

Year-over-year payment values on the P2P platform increased by 57%, while transaction volume jumped 72%, network operator Early Warning Systems reported Tuesday.

By Anna Hrushka • Jan. 28, 2020

New credit loss accounting standard expected to pummel retail income

FASB's CECL standard took effect for public banks at the beginning of this year. Analysts at Morgan Stanley say it's going to hit some retailers hard.

By Robert Freedman • Jan. 27, 2020

N26 gains 250K US customers in 5 months

The Berlin-based startup also reported it surpassed 5 million customers globally, a 43% jump from the 3.5 million users it reported last summer.

By Anna Hrushka • Jan. 27, 2020