Citi to monitor how often private bankers make client calls: report

The lender wants its private bankers to contact its clients at least once every 90 days and record in detail the conversations, the Financial Times reported Wednesday.

By Rajashree Chakravarty • Feb. 15, 2024

Viva Wallet CEO sues JPMorgan, claiming bank is limiting growth

Haris Karonis alleges JPMorgan, which owns 48.5% of Viva, is seizing on "perverse incentives" that allow the bank to take full control of the fintech if its value falls below €5 billion next year.

By Gabrielle Saulsbery • Feb. 15, 2024

Explore the Trendline➔

Top 5 stories from Banking Dive

Everything old is new again. One year after Citi’s reorganization, progress comes in “fits and starts.” Meanwhile, a contentious proposed rule is generating “voluminous” feedback after 14 months.

By Banking Dive staff

PNC wants to open 100 new branches by 2028

The bank pledged to invest roughly $1 billion to open locations in cities such as Dallas, Denver and Houston, and to renovate existing branches.

By Rajashree Chakravarty • Feb. 14, 2024

Bank of America customer data exposed in IT provider breach

A threat actor compromised Infosys McCamish Systems in November, affecting more than 57,000 Bank of America customers.

By Rajashree Chakravarty • Feb. 13, 2024

Citi faces rebukes, new orders from regulators: report

The Federal Reserve sent three notices late last year instructing the lender to improve its data and governance, Reuters reported.

By Rajashree Chakravarty • Feb. 12, 2024

Barclays ceases direct funding of new fossil fuel projects

The London-based bank will also require all of its portfolio energy companies to report their scoped emissions reductions targets and any expansion plans by Jan. 1, 2025.

By Lamar Johnson • Feb. 12, 2024

NYCB insiders bought 200K shares. Is this the show of confidence the bank needs?

One analyst highlights the bank’s willingness to “eat their own cooking.” But others have their eye on commercial real estate, NYCB’s rapid growth and a tinge of Signature deja vu.

By Dan Ennis • Feb. 12, 2024

HSBC CEO knew of a plan to poach SVB bankers, First Citizens alleges

First Citizens filed an amended complaint in federal court Wednesday, in line with a judge's order last month to "clean up" its initial $1.2 billion lawsuit.

By Gabrielle Saulsbery • Feb. 9, 2024

Citizens taps JPMorgan vets to lead private bank

The Rhode Island-based lender opened its first private banking office in Boston and said it plans to open offices in Palm Beach, Florida, and Mill Valley, California, this year.

By Rajashree Chakravarty • Feb. 9, 2024

NYCB looks to trim its CRE exposure, but the market’s skeptical

The bank's stock Wednesday repeatedly triggered circuit breakers meant to keep share value from falling too quickly. Despite executives' assurances, another ratings agency downgraded the stock.

By Dan Ennis • Feb. 8, 2024

Yellen: CRE losses may leave banks ‘quite stressed’

Bank regulators aim to avert turmoil caused by a slump in the value of commercial real estate, Treasury Secretary Janet Yellen said in testimony to a House committee Tuesday.

By Jim Tyson • Feb. 7, 2024

NYCB enlists ex-Flagstar CEO after Moody’s downgrade

The bank named Alessandro DiNello as executive chair Wednesday and issued updated deposit and liquidity statistics to reassure investors. But some have still filed suit.

By Dan Ennis • Feb. 7, 2024

JPMorgan wants to open 500 branches in next 3 years

The bank is looking to expand in areas such as Boston, Charlotte, Minneapolis, Philadelphia and Washington D.C. — but aims to close another 30 First Republic locations.

By Rajashree Chakravarty • Feb. 6, 2024

NYCB’s risk chief left bank ahead of Q4 loss report, stock dip

The bank’s announcement that it would set aside $552 million in loan-loss reserves and cut its dividend came amid pressure from the Office of the Comptroller of the Currency, Bloomberg reported.

By Dan Ennis • Feb. 6, 2024

Truist sells asset-management arm in $70M deal

Toronto-based Guardian Capital has agreed to buy Sterling Capital Management, which has roughly $76 billion in assets under management and advisement.

By Gabrielle Saulsbery • Feb. 5, 2024

Vast Bank discontinues crypto mobile app

The Tulsa, Oklahoma-based lender told customers their digital assets would be liquidated and accounts would be closed. Customers will receive stranded assets via cashier’s check, the bank said.

By Rajashree Chakravarty • Feb. 5, 2024

Margin compression and regulatory challenges and competition, oh my!

Market and regulatory changes are making lending to the cannabis industry a smart growth strategy.

By Tony Repanich • Feb. 5, 2024

Dive Deposits: Inside the ‘takeover attempt’ at a long-standing Black bank

An investment fund has sought since August to take control of Carver Federal Savings Bank. The bank finally fought back using its aggressor’s favorite weapon.

By Dan Ennis • Feb. 2, 2024

Deutsche Bank to cut 3,500 jobs by 2025

The bank also announced it would return €1.6 billion to investors in the first half of 2024. That includes a €675 million share buyback.

By Dan Ennis • Feb. 1, 2024

WaFd, Luther Burbank deal gets regulatory nods

The deal is now expected to close by Feb. 29 and the systems and brand integration is to be completed by the first week of March, according to the banks.

By Rajashree Chakravarty • Feb. 1, 2024

Could the factors that took down SVB combine for a rerun in 2024?

NYCB's surprise Q4 loss may stand as a warning — or an outlier — as regional banks fight for deposits, weather real estate woes and wait for interest rates to drop.

By Dan Ennis • Jan. 31, 2024

California banks merge in $233.6M deal

The tie-up between Southern California Bancorp and California BanCorp, set to close in the third quarter, will create a $4.6 billion-asset company in some of the state’s strongest areas for mid-market business banking.

By Ken McCarthy • Jan. 30, 2024

NY AG sues Citi over denied fraud claims

“If a bank cannot secure its customers’ accounts, they are failing in their most basic duty,” New York Attorney General Letitia James said in a statement Tuesday.

By Dan Ennis • Jan. 30, 2024

Michigan credit union to buy NorthSide Community Bank

Advia Credit Union will expand its footprint in northeastern Illinois with the third proposed acquisition of a bank by a credit union in 2024.

By Rajashree Chakravarty • Jan. 29, 2024

Goldman’s global banking and markets co-chief to leave bank

Jim Esposito — a 28-year veteran who had sought to become the bank's CEO or president, The Wall Street Journal noted — co-led a unit that brought in two-thirds of Goldman's revenue last year.

By Dan Ennis • Jan. 29, 2024