Blue Ridge Bank holding company’s CEO resigns

The president of the bank’s fintech division, Kirsten Muetzel, also is leaving the bank this month, according to her LinkedIn profile.

By Anna Hrushka • July 20, 2023

Wells Fargo, Hello Alice team on $70M small-business fund

The fund is meant to increase banks' risk tolerance and help underserved small-business owners with credit enhancements and cash collateral deposits.

By Anna Hrushka • July 19, 2023

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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

Cannabis fintech Dama Financial looks to double sponsor bank network

Dama Financial’s network of sponsor banks holds the deposits for cannabis-related businesses which, due to conflicting state and federal laws, often operate outside of the banking sector.

By Anna Hrushka • July 19, 2023

Citi launches digital client platform for commercial banking

The outlet is meant to offer users a better view of their banking activities across cash, loans, trade, foreign exchange, servicing and onboarding, the bank said.

By Rajashree Chakravarty • July 19, 2023

Goldman takes nearly $1B in impairments as profit falls 60%

The bank took losses tied to commercial real estate and GreenSky, reporting its lowest three-month net income in three years.

By Gabrielle Saulsbery • July 19, 2023

Peoples Bank names next CEO

Tyler Wilcox will serve as the Ohio lender's chief operating officer in a transitional role until he succeeds Chuck Sulerzyski, who is retiring March 31, the bank said.

By Rajashree Chakravarty • July 13, 2023

JPMorgan cuts 63 NJ workers, adds 27-year SVB vet

The bank hired John China, the president of SVB Capital, to co-lead a commercial-banking unit focused on supporting startups and venture capital-backed firms.

By Dan Ennis • July 12, 2023

Wells promotes its commercial bank’s head of Native American banking

The bank named Dawson Her Many Horses a managing director. The move comes as Wells tries to reclaim its reputation after a hiring policy and mortgage lending disparity threw race into the spotlight at the bank.

By Dan Ennis • July 11, 2023

Wells Fargo staff allege anti-Latino bias in mortgage lending

Bilingual mortgage sales team members were directed to steer Spanish-speaking customers away from home equity lines of credit into costlier refinancing options without any associated disclosures, plaintiffs said.

By Rajashree Chakravarty • July 7, 2023

Goldman should disclose profit from SVB bond sale: Warren

In a letter addressed to Goldman CEO David Solomon, Sen. Elizabeth Warren, D-MA, accused the firm of profiting “at nearly every stage of Silicon Valley Bank’s collapse.”

By Anna Hrushka • July 6, 2023

Goldman in talks to transfer Apple card deal to Amex: reports

The move, if true, would mark a 180-degree turn after the bank and tech giant extended their partnership until 2029 in October.

By Gabrielle Saulsbery • July 5, 2023

Fed, FDIC, OCC, NCUA push short-term CRE loan accommodations

The agencies asked lenders “to work prudently and constructively with creditworthy borrowers during times of financial stress,” in an update to the 2009 commercial real estate loan guidelines.

By Rajashree Chakravarty • June 30, 2023

SVB Securities sale clouded by liability questions

"I can't believe you'd even try to sneak this by me," a bankruptcy judge told attorneys for SVB Financial.

By Gabrielle Saulsbery • June 30, 2023

Goldman Sachs loses M&A crown to JPMorgan

The slump comes amid a 42% decline in deal volume so far this year. Goldman last failed to top the M&A adviser rankings in the first half of 2018, when Morgan Stanley outpaced the bank.

By Dan Ennis • June 29, 2023

BMO Capital Markets cuts 100 jobs: reports

While dealmaking has slumped 42% so far in 2023, compensation in banking has grown 17% year over year, according to research from the National Bank of Canada.

By Gabrielle Saulsbery • June 29, 2023

UBS could cut 35K jobs by October: reports

Employees can expect three rounds of layoffs, including one by July, according to Bloomberg. Credit Suisse's investment bank, back office and Swiss retail bank could see deep cuts, Reuters reported.

By Dan Ennis • June 28, 2023

U.S. Bank’s fintech acquisition materializes in card launch

U.S. Bank and TravelBank, which it acquired in 2021, this week launched a commercial rewards card for the emerging middle market.

By Gabrielle Saulsbery • June 28, 2023

TIAA’s banking unit to return to legacy EverBank brand

The name change will take effect when the transaction closes this summer, and will include the home field of the NFL's Jacksonville Jaguars, the company said.

By Rajashree Chakravarty • June 27, 2023

At JPMorgan, Goldman and Cowen, layoffs mount

Goldman reportedly cut 125 managing directors, lending credence to earlier rumors of a third round of right-sizing at the bank.

By Gabrielle Saulsbery • June 26, 2023

PacWest continues liquidity push with $3.5B portfolio sale

The beleaguered bank said Monday it received $2.01 billion from a portion of the loan portfolio sale to Ares Management Corp.

By Dan Ennis • June 26, 2023

HSBC to leave Canary Wharf for central London HQ

The bank intends to leave its 45-story tower in late 2026 — possibly for the redeveloped former head office of telecom group BT. The move would cut HSBC’s headquarters footprint in half.

By Dan Ennis • June 26, 2023

JPMorgan names head to new data and analytics business

Company vet Teresa Heitsenrether will lead the charge in implementing artificial intelligence, something CEO Jamie Dimon recently called “critical to our company’s future success.”

By Gabrielle Saulsbery • June 22, 2023

Dimon won’t face 2nd deposition in Epstein case

A U.S. district court judge stopped an attempt by the U.S. Virgin Islands to reopen depositions against JPMorgan’s CEO in the bank’s litigation over its ties to Jeffrey Epstein.

By Rajashree Chakravarty • June 20, 2023

SVB’s investment bank gets a rebrand

A group led by SVB Securities CEO Jeff Leerink will buy the business from its bankrupt ex-parent company and rename it Leerink Partners.

By Dan Ennis • June 20, 2023

Customers Bank hires 30 Signature bankers, acquires $631M portfolio

The new team is expected to be onboarded in the next few weeks. The Pennsylvania bank bought the portfolio at approximately 85% of book value, it said.

By Dan Ennis • June 16, 2023