Retail


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    TD plans to open 150 US branches by 2027, focus on Southeast

    The bank is targeting South Florida, Atlanta and North Carolina — where it would have grown through First Horizon. “In the U.S., we are still a relatively young bank,” CFO Kelvin Tran said. “We have a lot of white spaces there.”

    By May 26, 2023
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    First Citizens cuts hundreds of SVB veterans

    First Citizens Bank acquired Silicon Valley Bank following SVB's collapse in March. Wednesday's layoffs reportedly affect “select SVB corporate functions, not client-facing positions.”

    By May 25, 2023
  • Trendline

    Customer service

    Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.

    By Banking Dive staff
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    Citi abandons sale of Mexico retail unit

    The bank will pursue an IPO for its consumer, small-business, and middle-market banking operations, with a launch expected in 2025.

    By May 24, 2023
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    Wells Fargo to pay $1B in fake-accounts class-action settlement

    Prior leadership at the bank distorted how quickly it was addressing and fixing risk management systems that allowed sales staff to open millions of phony accounts, plaintiffs alleged.

    By May 16, 2023
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    Banking industry turmoil could spur M&A, experts say

    Regional lenders may turn to M&A to survive the turmoil. Meanwhile, JPMorgan’s First Republic buy has fueled speculation that regulators are viewing consolidation in a different light.

    By May 12, 2023
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    Column

    6 strategies revealed in FDIC’s disclosure of SVB bids

    PNC and Citizens each bid for the failed bank's assets, as one might expect. So did two Canadian banks, investment behemoths and even a $2.8 billion-asset Maine-based lender.

    By May 11, 2023
  • In this photo illustration, the home page for the OpenAI "ChatGPT" app is displayed on a laptop screen on February 03, 2023 in London, England.
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    Leon Neal via Getty Images
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    MoneyLion to add ChatGPT-powered search to its marketplace

    MoneyLion CEO Dee Choubey believes tools like the popular text generator will eventually become table stakes in the finance sector.

    By May 10, 2023
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    Bonuses at regional banks could plunge 20%, consultant finds

    Retail and commercial bankers at the U.S.’s global banks could see bonuses jump by 10% to 20%, creating a “have and have-not” scenario. But not all regionals are suffering. First Citizens saw its profit jump 30-fold.

    By May 10, 2023
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    Concerns over TD’s AML practices sunk First Horizon deal: report

    TD’s five-year, $50 billion community benefits agreement has also become a casualty of the failed tie-up.

    By May 9, 2023
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    Column

    PacWest or Pacific West?: Curbing name confusion, Take 2

    An Oregon lender distances itself from the troubled regional with two website notices and a press release.

    By May 5, 2023
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    Goldman in talks to settle gender discrimination suit: reports

    The class-action lawsuit, which was first filed in 2010, is scheduled to go to trial next month in New York.

    By May 4, 2023
  • TD Bank at One Vanderbilt
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    TD, First Horizon terminate $13.4B merger

    TD will pay First Horizon $200 million in cash, in addition to a $25 million fee reimbursement. TD blamed “uncertainty” as to when the deal might gain regulatory approval.

    By May 4, 2023
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    Sen. Brown urges FDIC to review Tellus’ business practices

    The Senate Banking Committee chair voiced concern over the fintech’s high-interest savings accounts that are not insured by the regulator.

    By May 3, 2023
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    Greenwood acquires neobank Kinly

    The acquisition merges two neobanks that share a similar mission. Both fintechs launched in 2020 with the goal to help underserved communities build generational wealth.

    By May 2, 2023
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    JPMorgan to ‘fight hard’ to retain First Republic clients, CFO says

    JPMorgan’s agreement to buy the failed bank’s assets once again raises questions of the health of the banking ecosystem, particularly shining a light on regional banks.

    By Grace Noto • May 1, 2023
  • Global Payments CEO Jeff Sloan
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    Retrieved from Global Payments Spokesperson Matt Cochran on September 10, 2021
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    Global Payments to replace CEO

    CEO Jeff Sloan will step down June 1 and be replaced by the payment processor’s president and chief operating officer, Cameron Bready.

    By Caitlin Mullen • May 1, 2023
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    JPMorgan Chase to acquire seized First Republic

    The nation's largest bank is taking in roughly $173 billion in loans, $30 billion in securities and $92 billion in deposits as part of the FDIC-orchestrated sale, expected to cost the Deposit Insurance Fund $13 billion.

    By May 1, 2023
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    Santander poaches Deutsche’s US chief Riley

    The move is part of a management shake-up that came a day before the German bank announced it was shedding 800 senior back-office jobs.

    By April 27, 2023
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    OCC, FDIC flag ‘unfair, deceptive’ overdraft practices

    Regulators highlighted several bank overdraft practices that could result in violations of Dodd-Frank Act rules, as well as Section 5 of the Federal Trade Commission Act.

    By April 27, 2023
  • A 'Citi' sign is displayed outside Citigroup Center near Citibank headquarters in Manhattan on December 5, 2012 in New York City.
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    Mario Tama via Getty Images
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    Banker leaves Citi after report of Epstein meetings

    Citi opened an investigation last week after executives learned that Paul Barrett, while at JPMorgan Chase, scheduled at least five meetings with the now-late convicted sex offender between 2014 and 2017.

    By April 26, 2023
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    Binance.US abandons $1.3B Voyager acquisition

    It's the second time a deal to buy Voyager has fallen through since it filed for bankruptcy last summer.

    By April 26, 2023
  • A person walks by a First Republic Bank office on March 16, 2023 in San Francisco, California.
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    Chris Hondros via Getty Images
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    First Republic customers withdrew more than $100B in Q1

    The ailing firm, which received a $30 billion infusion from 11 banks last month, said it plans to reduce its workforce by as much as 25%.

    By April 25, 2023
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    Is the TD-First Horizon deal any closer?

    The Canadian bank's CEO said this week he still "[sees] the benefits" of the acquisition but didn't comment on potential renegotiation. First Horizon, meanwhile, said it had "no further updates."

    By April 21, 2023
  • A Wells Fargo bank signage is seen on Broadway on December 20, 2022 in New York City.
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    Michael M. Santiago via Getty Images
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    Wells Fargo workers’ union effort pushes shareholder proposal

    Proxy advisers Institutional Shareholder Services and Glass Lewis have recommended voting in favor of a policy recognizing workers’ rights to organize.

    By April 19, 2023
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    Goldman confirms it’s exploring sale of fintech GreenSky

    The comments lend more structure to CEO David Solomon’s assertion, at Goldman’s investor day in February, that the bank was “considering strategic alternatives” for its consumer business.

    By April 19, 2023