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

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

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

Regions customers get an extra day to avoid overdraft fees

The new enhancement will be effective from June 15 for all Regions consumer banking and private wealth management checking accounts.

By Rajashree Chakravarty • June 16, 2023

NFL gets $78M in loans from 16 nonwhite-owned banks

The deal will generate Tier 1 capital for the banks. Fees and interest garnered from the loan will strengthen the banks' lending power by millions of dollars, CNBC reported.

By Gabrielle Saulsbery • June 15, 2023

Perella Weinberg’s cuts show it’s an employer’s market again

The boutique bank is cutting about 7% of its workforce to free up funds to hire top talent, Bloomberg reported. That's a far cry from January 2022, when banks were sweating first-year salaries.

By Dan Ennis • June 15, 2023

Wells Fargo CFO warns of commercial real estate weakness

Wells Fargo CFO Mike Santomassimo is the latest big-bank executive to detail commercial real estate distress and its potential impact on lenders.

By Maura Webber Sadovi • June 14, 2023

BNY Mellon, MoCaFi link up to bring digital payments to unbanked

The bank's treasury services clients will now be able to disburse payments to those without bank accounts through MoCaFi.

By Gabrielle Saulsbery • June 14, 2023