Custodia launches with US dollar deposits, preps crypto custody

The bank, which is engaged in a legal battle with the Fed, said it’s initially serving U.S. business customers only and awaiting final regulatory clearance to launch its bitcoin custody service.

By Anna Hrushka • Aug. 14, 2023

PayPal names Intuit exec as CEO

The digital payments pioneer tapped Intuit’s Alex Chriss to lead the company, starting next month, as Dan Schulman heads for an exit.

By Lynne Marek • Aug. 14, 2023

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

Senators urge Fed to overhaul big-bank merger policy

A revamp is critical given the spate of regional bank failures this year, said Sen. Sherrod Brown, D-OH, and three others, who accused the central bank of approving mergers under an “old rubric.”

By Anna Hrushka • Aug. 10, 2023

Goldman Sachs names next chief of staff

Russell Horwitz, who helped negotiate the bank’s 1MDB settlements, will return to Goldman after leaving in 2020. His predecessor, John Rogers, will remain in an EVP role focused on regulation, according to a memo.

By Dan Ennis • Aug. 8, 2023

Banks’ 10-Q filings become unexpected must-reads

Apart from disclosing their estimated share of the FDIC's special assessment fee, some financial institutions revealed deepening relationships and even a compensation package.

By Dan Ennis • Aug. 7, 2023

RBC hiring climate transition chief amid fossil-fuel criticism

The job opening seeks an executive to “orchestrate, unify and advance” a federated set of climate-related activities.

By Rajashree Chakravarty • Aug. 4, 2023

Citi’s commercial-banking chief Ybarra is leaving the bank

The 36-year veteran will leave in the first half of next year, CEO Jane Fraser wrote in a memo Thursday.

By Dan Ennis • Aug. 3, 2023

Senate ‘making good progress’ on pot banking bill, Schumer says

There may be bipartisan agreement on SAFE Banking’s goal to help the cannabis industry enter the banking fold, but lawmakers are reportedly haggling over some of the bill’s details.

By Anna Hrushka • Aug. 1, 2023

Laurentian Bank seems to have missed first deadline to find buyer

Both TD and Scotiabank last week backed out as potential buyers of Canada's ninth-largest bank, according to The Globe and Mail.

By Gabrielle Saulsbery • Aug. 1, 2023

Shopify taps Ramp to save on corporate expenses

E-commerce company Shopify is adopting more artificial intelligence by automating its corporate expenses through Ramp.

By James Pothen • Aug. 1, 2023

Dream First acquires Heartland Tri-State in Kansas bank failure

Heartland "became insolvent due to an isolated event," the state regulator said. Dream First adds four branches, around $139 million in assets and $130 million in deposits.

By Rajashree Chakravarty • July 31, 2023

FDIC seeks buyers for $18.5B in Signature Bank loans

The portfolio is made up of 201 loans to private equity firms, and part of the $60 billion in Signature loans the FDIC plans to offload.

By Gabrielle Saulsbery • July 31, 2023

Goldman Sachs vet jumps to Sixth Street

Julian Salisbury, a 25-year Goldman vet, is one of a number of executives to leave the firm in the wake of its asset management overhaul.

By Gabrielle Saulsbery • July 28, 2023

Citi says its predecessors likely benefited from slavery

The conclusion came in an independent review the bank agreed to as part of its 2020 racial equity pledge.

By Rajashree Chakravarty • July 28, 2023

Santander to hire 150, expand US investment bank: reports

The bank also laid off its U.S. head of commercial banking and is combining that unit with its commercial real estate and vehicle-financing businesses, a source told the Boston Business Journal.

By Anna Hrushka • July 28, 2023

Fed, FDIC, OCC propose 19% boost in held capital for biggest banks

The 1,089-page proposal also would force banks with $100 billion in assets to account for unrealized gains and losses on some securities and alter the way banks calculate risk-weighted assets.

By Dan Ennis • July 27, 2023

JPMorgan notches a second win in the banking crisis

The bank is the mystery buyer of $1.8 billion in single-family residential loans from Banc of California, sources told Bloomberg and Reuters.

By Dan Ennis • July 27, 2023

Fintechs ‘deeply concerned’ with Senate SBA bill

A bill aimed at reining in the SBA’s 7(a) expansion plan would subject nonbanks to unfair and overly burdensome regulations, fintech trade groups said.

By Anna Hrushka • July 26, 2023

NatWest CEO Alison Rose steps down

The move comes less than a day after Rose admitted a “serious error of judgment” in discussing the closure of politician-turned-pundit Nigel Farage’s account with a journalist.

By Rajashree Chakravarty • July 26, 2023

Banc of California agrees to buy PacWest

The deal includes a $400 million investment from Warburg Pincus and Centerbridge Partners, and gives the private-equity firms a 19% stake in the combined company.

By Dan Ennis • July 26, 2023

Citi acquires Deutsche Bank’s Mexico license

The deal will help Citi separate its institutional and private business in Mexico from its consumer, small-business and middle-market operations ahead of a planned IPO for Banamex in 2025.

By Rajashree Chakravarty • July 25, 2023

JPMorgan vet to lead new Lazard capital-raising unit: report

Capital-markets deals are often outside the purview of boutique firms such as Lazard because they don’t have underwriting capability. But investment banks are looking to diversify amid a slump in deal volume.

By Dan Ennis • July 25, 2023

Dimon confirms JPMorgan’s plan to launch digital bank in Germany

“It has always been clear to us that we want to introduce Chase not only in the U.K., but also in Germany and other European countries,” the CEO told the German newspaper Handelsblatt.

By Rajashree Chakravarty • July 21, 2023

Senate bill would rein in SBA’s fintech lending plan

The legislation, which heads to the full Senate, is in response to the agency’s decision to end a 40-year moratorium on admitting new nonbank entrants to its 7(a) loan program.

By Anna Hrushka • July 21, 2023

Flagstar hires dozens of First Republic vets in private-client push

The move is Flagstar's second large-scale gain from this year's banking crisis, after buying much of Signature Bank in March.

By Dan Ennis • July 20, 2023