Risk: Page 32
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Deep Dive
4 banking trends to watch in 2021
Banking Dive expects M&A to pivot toward niches, race to be a continuing focus of ESG, and crypto to have a make-or-break year in 2021.
By Dan Ennis , Anna Hrushka • Jan. 20, 2021 -
:Weatherman1126. (2007). "Logo of The Goldman Sachs Group, Inc." [Image]. Retrieved from Wikipedia Commons.
Goldman, Marqeta partner to launch Marcus checking accounts this year
The bank is considering growing Marcus through acquisitions, Reuters reported, though executives have ruled out any tie-ups that involve taking on bank branches.
By Dan Ennis • Jan. 15, 2021 -
Explore the Trendlineâž”
Permission granted by Frost Bank
TrendlineTop 5 stories from Banking Dive
Since the approval of Capital One’s acquisition of Discover, banks have increasingly waded into new deals. Beyond that, they’ve doubled down on strategy, from organic growth to branch placement to app design.
By Banking Dive staff -
Permission granted by Office of the Comptroller of the Currency
OCC finalizes controversial fair access rule
Bank trade groups and some Democratic lawmakers said the regulator is overstepping, while some Republicans in Congress said the rule prevents unpopular sectors of the economy from being blackballed.
By Anna Hrushka • Jan. 14, 2021 -
Synchrony CEO Keane to step down April 1
Margaret Keane guided the credit-card provider through a rebranding, an IPO and a spinoff from GE. Shares gained 60% in that time, but she said she may be proudest of the company's "north star" — its culture.
By Dan Ennis • Jan. 13, 2021 -
Monica Schipper via Getty Images
State Street doubles down on ESG pledge, while HSBC’s comes under scrutiny
Europe's largest lender staved off a shareholder revolt when it announced it would phase out by 2030 its financing of companies that deal in coal-fired power and thermal coal mining in developed countries, and by 2040 elsewhere.
By Dan Ennis • Updated March 11, 2021 -
Gender breakdown of Citi promotions shows incremental pace of change
About 29% of the people the bank promoted to managing director in 2020 are women — a company record, but far off the 40% proportion it intends to achieve by 2021.
By Dan Ennis • Dec. 22, 2020 -
Fed, FDIC, OCC approve 36-hour window for reporting cyberattacks
Under the rule, which takes effect May 1, banks must notify their primary federal regulator within 36 hours of determining whether a "significant computer-security incident" could disrupt business.
By Dan Ennis • Updated Nov. 19, 2021 -
Column
Jamie Dimon and others find their 'winter filter'
December and January bring the kind of fatigue and restlessness that yield uncharacteristically blunt talk and actions from executives. Goldman ex-President Gary Cohn opting for charity over clawback? Winter filter.
By Dan Ennis • Dec. 11, 2020 -
Citi's 'six eyes' come under fire as trial begins over $900M error
Bank employees testify on Citi's system of checks and balances, their discovery of the mistaken transfer, and the resistance creditors displayed when asked to return the money.
By Dan Ennis • Dec. 10, 2020 -
Kendall Davis/Banking Dive
Dive Awards
The Banking Dive Awards for 2020
The government turned to banks and fintechs to help facilitate federal relief amid the coronavirus pandemic. Here are the executives and companies whose leadership stood out during the global crisis.
By Banking Dive Team • Dec. 9, 2020 -
How Bank of America's small-business strategy laid groundwork for PPP efforts
A 'digital plus human' strategy, combined with ongoing tech investments, helped position the nation's second-largest bank to deliver more than 343,000 of the coronavirus aid loans.
By Suman Bhattacharyya • Dec. 8, 2020 -
Permission granted by Office of the Comptroller of the Currency
OCC proposal prohibits banks from denying lending to oil, gun companies
The 45-day comment period is uncommonly short, but may allow the agency a brief window to issue the rule before the Biden administration is expected to take office Jan. 20.
By Dan Ennis • Nov. 23, 2020 -
Courtesy of Wells Fargo multimedia resources
IT leaders' input must be part of risk management plan, Wells Fargo exec says
"It really is about who's got the strongest strategy, and if you don't innovate and continually improve ... you will be the one that will be hit the hardest," Mandy Norton, the bank's chief risk officer, said Wednesday at a summit.
By Katie Malone • Nov. 19, 2020 -
Jacob Boomsma/iStock/Getty Images Plus via Getty Images
Montana banks prepare to navigate regulatory haze upon legalizing pot
"At this point, we're all just holding our breath, hoping we figure it out and the banks stay out of trouble," the president and CEO of the Montana Bankers Association said.
By Anna Hrushka • Nov. 18, 2020 -
Carlos Alvarez via Getty Images
BBVA’s Sabadell merger talks reveal other end of PNC pendulum
The lender and its larger Spanish rival, Santander, have launched simultaneous efforts in the past week to expand and contract.
By Dan Ennis • Nov. 17, 2020 -
Lenders face tough decisions as commercial bankruptcy filings mount
"What I think might be the surprise of 2021 to lenders is the value of their collateral is going to be less than what they think it is, at least in the distressed spaces," attorney Jim Lodoen said.
By Anna Hrushka • Nov. 12, 2020 -
JPMorgan drops from top of FSB's list of systemically important banks
The lower ranking means any instability at the largest U.S. bank puts the global financial system at less risk. Goldman Sachs and Wells Fargo also ranked less risky, according to the panel's assessment Wednesday.
By Dan Ennis • Nov. 12, 2020 -
Fed flags climate change as financial risk, seeks transparency from banks
The declaration comes as TD Bank committed Monday to net-zero carbon emissions by 2050 for the projects it finances.
By Dan Ennis • Nov. 10, 2020 -
Wells Fargo plans to freeze raises for workers earning over $150K
The move comes two weeks after the bank said it would eliminate its 401(k) program's 6% matching contribution for employees who make $250,000 a year or more. Wells Fargo reversed course two days later.
By Dan Ennis • Nov. 5, 2020 -
Citi's chief risk officer is leaving the bank
The move may buy the nation's third-largest bank some time with the OCC, which fined the bank $400 million last month and reserves the right to demand changes to its senior management and board.
By Dan Ennis • Nov. 3, 2020 -
Delmaine Donson via Getty Images
Sponsored by Early Warning3 best practices to help your financial institution combat unemployment-benefits fraud
Fight fraud, mitigate risk and better service your customers for account opening, funding, and payment experiences.
Nov. 2, 2020 -
American Express pledges $1B toward racial, gender equality
Much of that will come in an effort to double — to $750 million annually by 2024 — the credit-card network’s spending on diverse and minority-owned suppliers in the U.S.
By Dan Ennis • Oct. 30, 2020 -
NY regulator lays out climate risk expectations for banks
The Department of Financial Services wants banks to integrate climate-related financial risks into their business strategies, risk management processes and governance frameworks, but stopped short of demanding climate stress tests.
By Dan Ennis • Oct. 30, 2020 -
:Weatherman1126. (2007). "Logo of The Goldman Sachs Group, Inc." [Image]. Retrieved from Wikipedia Commons.
Ex-Goldman lawyer sues bank in alleged sexual misconduct cover-up
Whistle-blower Marla Crawford claims her boss retroactively added negative comments to her performance review in retaliation for her complaint over an inappropriate relationship, leading Crawford's bonus to be slashed by $30,000.
By Dan Ennis • Oct. 27, 2020 -
Anna Hrushka/Banking Dive
Fed, FinCEN want to make banks report international transfers of as little as $250
Friday's proposal to lower the threshold from $3,000 is meant to catch bad actors using low-dollar cross-border transactions to facilitate terrorist financing and other illicit activity.
By Anna Hrushka • Oct. 26, 2020
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