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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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.

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. 

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.

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.

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.

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.

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.

Texas credit union discovers year-old data breach

TDECU fell victim to last year’s MoveIt data breach, but only found out in July. The credit union said the incident is not expected to impact its acquisition of a Louisiana bank.

Goldman catches a break on capital requirements

The Fed reduced Goldman’s stress capital buffer to 6.2% after the bank argued that losses from its sale of GreenSky don’t belong in projections for the future.

Truist’s premier banking head exits

Allison Robinson, a two-decade veteran of the bank, has served as head of branch and premier banking since last November.

Sustainability advocates sue Texas over anti-ESG law

The American Sustainable Business Council alleged that the state's 2021 law violates its members' rights to speech and free association, as well as due process, and are seeking an injunction.

Fed’s Waller questions faster cross-border payments ties

There could be more fraud and money laundering if countries move too quickly to link their faster payments systems, the central bank governor said Wednesday at a conference.

Unit launches business continuity tool for bank partners of fintechs that fail

If a fintech powered by one of Unit’s partner banks fails, the bank can immediately connect to end users, with no service disruption, CEO Itai Damti said.

First Merchants exits Illinois retail banking with Old Second deal

Muncie, Indiana-based First Merchants is selling five Chicago-area branches to Aurora, Illinois-based Old Second, but will maintain a loan production office in the Windy City.