Commercial: Page 14

  • People walk by a branch of Signature Bank.
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    Spencer Platt via Getty Images
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    Signature Bank CRE, apartment loans have likely winning bids: reports

    Billions of dollars in commercial real estate loans, and loans tied to rent-regulated buildings, will likely go to different bidders, Bloomberg and The Wall Street Journal reported Sunday.

    By • Nov. 20, 2023
  • Citibank logo
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    Justin Sullivan via Getty Images
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    Citi cuts more than 300 senior manager roles: report

    The cuts affect employees two levels below CEO Jane Fraser’s executive management team, a source told Bloomberg.

    By • Nov. 20, 2023
  • People walk around the new headquarters of Creve Coeur, Missouri-based First Bank. Explore the Trendline➔
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    Permission granted by O’Malley Hansen Communications
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    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
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    Avosb via Getty Images
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    Flagstar Bank sues Hometown Lenders for $21M

    The Troy, Michigan-based bank is Hometown’s former warehouse lender.

    By • Nov. 17, 2023
  • HMBradley credit cards
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    Permission granted by HMBradley
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    Neobank HMBradley to wind down retail operations in B2B pivot

    After failing to hit growth targets, the fintech is shutting down its consumer operations and looking to sell its technology to banks.

    By • Nov. 16, 2023
  • FDIC
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    Courtesy of FDIC
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    Third-party guidance could have ‘chilling effect’ on BaaS, former FDIC chair warns

    “I don’t think that the current set of regulators really want banking-as-a-service and third-party partnerships to blossom,” former FDIC Chair Jelena McWilliams said during an event in Washington, D.C. on Tuesday.

    By • Nov. 15, 2023
  • $100 bills fan out on top of each other.
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    breeze393/iStock via Getty Images
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    First Citizens unveils updated $6.5B community benefits plan

    The commitment, recognizing Silicon Valley Bank’s pre-existing relationships, extends the bank's community support to Northern California and Massachusetts, First Citizens said.

    By • Nov. 15, 2023
  • Citibank logo
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    Justin Sullivan via Getty Images
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    The ax falls at Citi and Wells

    Citi was set to begin informing employees Wednesday about job cuts, CNBC reported. Meanwhile, Wells Fargo is cutting 40 to 50 corporate and investment banking jobs.

    By • Nov. 15, 2023
  • A Truist sign hangs on a building.
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    Permission granted by Truist
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    Truist names COO, hires away Wells Fargo exec

    Vice Chair Beau Cummins will become chief operating officer immediately, Truist said. Meanwhile, Kristin Lesher will join the bank as chief wholesale banking officer in February from Wells Fargo.

    By • Nov. 15, 2023
  • Royal Bank of Canada, global headquarters, Toronto, Canada
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    "Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
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    Another Fifth Third alum joins City National as next CFO

    Chris Doll, Fifth Third's head of investor relations, joins the Royal Bank of Canada subsidiary Nov. 27, after Greg Carmichael and Howard Hammond.

    By • Nov. 14, 2023
  • The U.S. Capitol Building as seen on a sunny day in Washington, DC.
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    Anna Moneymaker via Getty Images
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    GOP senators blast capital-requirements proposal ahead of hearing

    Sen. Tim Scott, R-SC, and 38 other lawmakers asked the Fed, FDIC and OCC to withdraw the proposal in a letter one day before representatives of each agency testify on Capitol Hill.

    By • Nov. 14, 2023
  • Silhouettes of business people
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    Piranka via Getty Images
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    Deep Dive

    Making the case for women-owned banks

    Three women-owned banks have emerged in the past several years with the shared goal of increasing access to capital for female entrepreneurs.

    By • Nov. 13, 2023
  • Royal Bank of Canada, global headquarters, Toronto, Canada
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    "Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
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    City National names Fifth Third exec as its next CEO

    Outgoing CEO Kelly Coffey will remain with the Royal Bank of Canada subsidiary as CEO of City National Entertainment, the Los Angeles-based lender said Friday.

    By • Nov. 13, 2023
  • Ransomware spelled out in a creative depiction.
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    Just_Super via Getty Images
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    Chinese banking giant’s US arm hit by ransomware attack

    The hack reportedly disrupted the trading of U.S. Treasuries. The Industrial and Commercial Bank of China Financial Services said it is investigating the attack and progressing recovery efforts.

    By • Nov. 10, 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 execs expect asset cap to extend into 2025: report

    The bank’s top executives believe the first quarter of 2025 will be the earliest that a $1.95 trillion asset cap imposed by the Federal Reserve could be lifted, Bloomberg reported.

    By • Nov. 9, 2023
  • Bluevine's debit card
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    Permission granted by Bluevine
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    Bluevine rolls out high-yield interest rate for SMBs

    The offering pairs a high return with cash flow flexibility, two features in strong demand among small-business owners, Charles Amadon, the fintech’s senior vice president and general manager of banking said.

    By • Nov. 8, 2023
  • A close up of the Department of Treasury seal on the front of the headquarters with "the Department of Treasury" and "1789" on an outer circle and a shield with the scales of justice up top and a key.
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    Chip Somodevilla via Getty Images
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    Iowa community bank becomes 5th to fail this year

    The $66 million-asset Citizens Bank of Sac City, Iowa, entered receivership of the FDIC on Friday and was then acquired by Iowa Trust & Savings.

    By • Nov. 7, 2023
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    Daniel Berehulak via Getty Images
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    UBS reports first quarterly loss since 2017

    The bank paid out $500 million to retain key Credit Suisse staff, moved $5 billion in managed assets to a wind-down unit and cut headcount by 3,000. But wealth management saw $22 billion in new money.

    By • Nov. 7, 2023
  • Truist building
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    "Truist Plaza" by Tyler Lahti is licensed under CC BY-SA 2.0
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    Truist CFO: Structure reorg is key to $750M cost-cutting plan

    CFO Mike Maguire says the bank is making good progress, as it grapples with a string of high-profile executive departures.

    By • Nov. 7, 2023
  • Jane Fraser headshot
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    Permission granted by Citigroup
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    Citi considers 10% job reduction in major units: report

    Chiefs of staff and chief administrative officers across the bank will be cut this month, sources told CNBC. The firm has reportedly hired Boston Consulting Group to help it carry out the plan.

    By • Nov. 6, 2023
  • 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.
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    JayLazarin via Getty Images
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    Goldman promotes 608 execs to managing director

    Around 47% of the class hails from Goldman’s investment banking and trading arm, a figure that reflects the firm’s efforts to refocus on core competencies, following a retreat from retail banking.

    By • Nov. 3, 2023
  • First Republic Bank logo
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    Spencer Platt via Getty Images
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    Former First Republic Bank executives under FDIC investigation

    The FDIC can ban former directors and officers from the banking industry if they are found to have made decisions with "willful or continuing disregard" for a bank’s best interests. The FDIC can also impose fines on these individuals.

    By • Nov. 2, 2023
  • Royal Bank of Canada, global headquarters, Toronto, Canada
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    "Royal Bank of Canada's global headquarters at 200 Bay Street in Toronto, Canada" by Francisco Diez is licensed under CC BY 2.0
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    RBC pumped $2.95B into City National this year to boost capital

    The capital infusion was part of RBC purchasing debt securities with unrealized losses from its U.S. subsidiary, according to a quarterly call report filed with a U.S. regulator earlier this week.

    By • Nov. 2, 2023
  • Clipboard with small business loan application form and pen on wooden desk background.
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    Piotrekswat via Getty Images
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    Funding Circle gets long-awaited shot at SBA lending

    Funding Circle joins Arkansas Capital Corp. and Alaska Growth Capital BIDCO as the first nondepository institutions to be granted new Small Business Lending Company licenses in 40 years.

    By • Nov. 1, 2023
  • wells fargo
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    Justin Sullivan via Getty Images
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    SEC investigates Wells Fargo’s cash sweep feature

    The SEC is investigating the cash sweep options the bank provides to investment advisory clients, adding to the laundry list of regulatory scrutiny the bank has come under in recent years. 

    By • Nov. 1, 2023
  • A panoramic view from above San Francisco's financial district on a bright sunny day.
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    georgeclerk via Getty Images
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    BMO to lay off 228 in California

    The Canadian lender continues to shed positions following its acquisition of San Francisco-based Bank of the West in February.

    By • Nov. 1, 2023