The Latest

  • Headshot of Hope Mehlman, GC and CLO of Discover
    Image attribution tooltip
    Courtesy of Discover
    Image attribution tooltip

    Discover’s top lawyer to join Ally

    Hope Mehlman will leave Discover on Nov. 29, or once the card company’s acquisition by Capital One is finalized, whichever date is sooner. She's expected to start at Ally on Dec. 2, the bank said.

  • The exterior of a Morgan Stanley location is shown
    Image attribution tooltip
    Courtesy of Morgan Stanley
    Image attribution tooltip

    Morgan Stanley fined $2M over ex-First Republic CEO stock sales

    The consent order issued by a Massachusetts regulator Thursday states the lender failed to properly monitor the former executive, who sold over $6.8 million in First Republic stock from February 2022 to March 2023.

  • Shift4 Payments SpaceX Isaacman
    Image attribution tooltip
    Retrieved from Polaris Dawn on September 06, 2024
    Image attribution tooltip

    The fintech CEO who is becoming a frequent flier with SpaceX

    On Jared Isaacman’s second trip to space, the billionaire plans to become the first private spacewalker. Shift4 investors will need to follow space news to learn about it.

  • Royal Bank of Canada, global headquarters, Toronto, Canada
    Image attribution tooltip
    "Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
    Image attribution tooltip

    RBC ‘selectively quoted’ texts to justify CFO’s firing, lawyer says

    In a new filing, the bank's ex-CFO, Nadine Ahn, said she received “differential treatment” as a woman and denied knowledge of “Project Ken” or an online “LoveBook” another executive allegedly ordered.

  • Wall Street
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip

    Many regionals lack clear strategy for private credit threat: analyst

    Private credit firms are no longer just extending loans banks won’t, Deloitte’s Richard Rosenthal said.

  • A person talks on a phone inside an ambulance while two others pass by the vehicle, amid recovery efforts for the sunken yacht, Bayesian.
    Image attribution tooltip
    Getty Images / Stringer via Getty Images
    Image attribution tooltip

    Morgan Stanley int’l chair suffocated, autopsy indicates

    Jonathan Bloomer, along with his wife and two others, appear to have died due to a lack of oxygen while trapped aboard British tech entrepreneur Mike Lynch’s sunken yacht, Reuters reported.

  • Office workstation top view of business people working around the letters "M&A" as well as a keyboard, calculator, phablet and money on wooden table.
    Image attribution tooltip
    Atstock Productions via Getty Images
    Image attribution tooltip

    ConnectOne to expand in NY with $284M deal

    The New Jersey-based bank aims to create a premier middle-market bank focused on the greater New York metro area following its merger with The First of Long Island Corp.

  • A view of the exterior of the Morgan Stanley headquarters.
    Image attribution tooltip
    Stringer via Getty Images
    Image attribution tooltip

    Morgan Stanley drops plastic pollution financing goal

    A spokesperson for the bank told ESG Dive it would no longer have the standalone goal due to data availability and quality challenges as required climate disclosures near.

  • Phone in hand with 'pay' button showing
    Image attribution tooltip
    Tero Vesalainen via Getty Images
    Image attribution tooltip

    Visa to upgrade pay-by-bank service in UK next year

    The card network plans to make the account-to-account service available to consumers for paying bills, like rent, but eventually for other uses too, such as digital streaming.

  • A sign that reads "Discover" marks the entrance to the card company's headquarters in Illinois.
    Image attribution tooltip
    Scott Olson / Staff via Getty Images
    Image attribution tooltip

    Ex-Discover exec alleges age, gender bias in lawsuit

    Diane Offereins is suing the card network over roughly $7 million in clawed-back equity, claiming she was a “convenient scapegoat” for Discover’s card misclassification issue.

  • Wooden judge gavel and calculator on financial reports.
    Image attribution tooltip
    Valerii Evlakhov via Getty Images
    Image attribution tooltip

    Old National names CFO amid predecessor’s child molestation case

    Brendon Falconer, who was put on administrative leave, left the bank Aug. 31 with a $2.6 million payout. John Moran, the now-permanent CFO, has filled the post on an interim basis since April.

  • two people shaking hands
    Image attribution tooltip
    Getty Images/Staff via Getty Images
    Image attribution tooltip

    REV Credit Union to buy West Virginia bank

    The South Carolina-based credit union’s proposed acquisition of First Neighborhood Bank is the 15th announced whole-bank purchase by a credit union this year — one off 2022’s record of 16.

  • The Federal Reserve building at sunset.
    Image attribution tooltip
    Douglas Rissing via Getty Images
    Image attribution tooltip

    Fed dings banks over flood insurance, crypto

    First Interstate Bank must pay $70,000 to the National Flood Insurance Program, and United Texas Bank must revamp its compliance programs.

  • michael hsu acting head of the OCC rests his chin on his hand in front of a christmas tree at a federal regulatory meeting
    Image attribution tooltip
    Drew Angerer via Getty Images
    Image attribution tooltip

    OCC’s Hsu wants to label domestic systemically important banks

    The regulator spoke at length on the need for horizontal, risk-based supervision — and the equivalent of regular physical exercise.

  • Four people walk by a TD bank branch location
    Image attribution tooltip
    Joe Raedle / Staff via Getty Images
    Image attribution tooltip

    TD’s US branch opening plans have slowed ‘dramatically,’ CEO says

    As the bank tackles its anti-money laundering issues and sets aside money for expected penalties, TD CEO Bharat Masrani indicated plans to open branches in the U.S. have been reduced.

  • SpringFour team aboard Fifth Third's eBus
    Image attribution tooltip
    Permission granted by SpringFour
    Image attribution tooltip

    Debt recovery software firm acquires SpringFour

    Under the acquisition by C&R Software, social impact fintech SpringFour plans to continue innovating and bringing new solutions and products to the collections and debt recovery market.

  • saint cloud minnesota skyline
    Image attribution tooltip
    halbergman via Getty Images
    Image attribution tooltip

    VersaBank completes purchase of tiny Minnesota bank

    The purchase gives the Canadian lender a bank charter and access to federal deposit insurance as it strives to grow its primary point-of-sale lending product.

  • Two people walk past a Chase bank branch.
    Image attribution tooltip
    Spencer Platt via Getty Images
    Image attribution tooltip

    Viral JPMorgan Chase glitch is ‘fraud, plain and simple,’ bank says

    Some customers deposited bad checks and immediately withdrew funds before the checks bounced in a glitch that went viral on TikTok. Now, some users have holds on their accounts.

  • Truist plaza is shown, with a sign reading "Truist" and the company's logo in the foreground, and the skyscraper in the background.
    Image attribution tooltip
    The image by Tyler Lahti is licensed under CC BY-SA 4.0
    Image attribution tooltip

    Truist approves $4.5M bonuses for CFO, top consumer banker

    The stock awards were given “to support the retention of key leadership critical to taking full advantage of the business opportunities” created by the sale of Truist’s insurance arm, the bank said.

  • A cityscape photographed at dusk, featuring the global headquarters of Goldman Sachs Company in center left, set in contrast to older buildings along New York's financial district.
    Image attribution tooltip
    JayLazarin via Getty Images
    Image attribution tooltip

    Goldman to cut hundreds of jobs: reports

    The staff reduction, tied to annual performance reviews, could affect between 1,300 and 1,800 employees, or 3% to 4% of the bank’s workforce, The Wall Street Journal reported Friday. 

  • A shot at night of the Philadelphia skyline.
    Image attribution tooltip
    halbergman via Getty Images
    Image attribution tooltip

    Republic First acquirer Fulton Bank to cut 111 NJ employees

    “With the recent Republic Bank transaction, we brought in more than 300 team members, many with redundant roles to our existing corporate staff,” a bank spokesperson said Friday.

  • Sen. Elizabeth Warren, wearing a red jacket, speaks into a microphone during a Congressional hearing.
    Image attribution tooltip
    Michael A. McCoy / Stringer via Getty Images
    Image attribution tooltip

    Warren grills FINRA over enforcement decline

    “Financial crimes cannot be prevented if you take the cop off the beat,” Sen. Elizabeth Warren scolded FINRA CEO Robert Cook. A spokesperson for the agency said it will respond to Warren's letter.

  • Cryptocurrency tokens lying next to a gavel
    Image attribution tooltip
    Just_Super via Getty Images
    Image attribution tooltip

    Custodia cuts 25% of its staff amid Fed lawsuit: report

    The digital asset-focused bank, chartered in Wyoming, is putting its resources toward an ongoing lawsuit with the Federal Reserve, which denied the lender a master account last year.

  • The HSBC logo is seen outside a bank branch.
    Image attribution tooltip
    Matt Cardy via Getty Images
    Image attribution tooltip

    HSBC wealth chief, COO exit as new CEO takes reins

    Nuno Matos, CEO of wealth and personal banking, had been previously considered to succeed Noel Quinn as CEO. HSBC COO John Hinshaw and HR head Elaine Arden are also leaving the bank.

  • A skyscraper with the name "U.S. Bank" atop it is shown.
    Image attribution tooltip
    Courtesy of U.S. Bank
    Image attribution tooltip

    U.S. Bank works to simplify SMB banking, payments

    To stand out from competitors, the Minneapolis-based lender has also expanded its SBA loan program over the last year, said Shruti Patel, chief product officer for business banking.