Executive of the Year: Jill Castilla, Citizens Bank of Edmond

"A little bank in Oklahoma with one location can have a seat at the table because we have a network," Castilla said.

By Anna Hrushka • Dec. 9, 2020

How Bank of America's small-business strategy laid groundwork for PPP efforts

A 'digital plus human' strategy, combined with ongoing tech investments, helped position the nation's second-largest bank to deliver more than 343,000 of the coronavirus aid loans.

By Suman Bhattacharyya • Dec. 8, 2020

Explore the Trendline➔

M&A

President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.

By Banking Dive staff

Morgan Stanley, JPMorgan, Bank of America diverge on bonuses

Banks usually move in lockstep on issues such as environmentally conscious investing, but compensation may prove an individual decision.

By Dan Ennis • Dec. 7, 2020

Stripe partners with Goldman, Citi to offer merchant bank accounts

Similar to Google's Plex accounts, Stripe's latest venture further demonstrates how banks are turning to fintech partnerships as a way to grow customers.

By Anna Hrushka • Dec. 4, 2020

Jurisdiction issue may threaten Citi's suit over errant $900M payment

Most defendants could proceed in the case, lawyers reassured a federal judge Thursday — a day after he questioned whether his venue was the proper setting for a trial set to begin Dec. 9.

By Dan Ennis • Updated Dec. 3, 2020

Fed, Treasury agree to extend PPP, 3 more lending facilities through March 31

A special investigator general, meanwhile, is investigating Mnuchin's November decision to claw back unused funds the CARES Act set aside for the Fed.

By Anna Hrushka • Updated Feb. 2, 2021

GM’s lending arm applies for ILC charter

The automaker's previous lending arm, GMAC, held an ILC charter until 2008, when the Federal Reserve gave emergency approval for it to become a bank holding company amid a trio of government bailouts worth $17.2 billion.

By Dan Ennis • Updated Dec. 18, 2020

OCC fines JPMorgan $250M over weak controls in its advisory business

Last week's fine from the OCC comes amid a surge of settlements some banks may be looking to secure before the Biden administration takes office.

By Anna Hrushka • Nov. 25, 2020

Behind BNY Mellon's war against B2B checks

Peer-to-peer payments have made consumer transactions cheap and efficient. BNY Mellon wants to do that for business payments, with additional communication, reporting and security measures.

By Suman Bhattacharyya • Nov. 25, 2020

Why Seattle Bank allied itself with Google

"The banking experience is just ripe for a Tesla-Peloton kind of experience, and we don't have that today. I think Google clearly can help drive that, and that's pretty cool," Seattle Bank's CEO said.

By Anna Hrushka • Nov. 24, 2020

Banks whose assets grew amid PPP get temporary relief from regulators

The interim final rule will give banks more time to either reduce their balance sheets or prepare for the stricter regulatory and reporting standards associated with the higher asset thresholds, the agencies said.

By Anna Hrushka • Nov. 23, 2020

Montana banks prepare to navigate regulatory haze upon legalizing pot

"At this point, we're all just holding our breath, hoping we figure it out and the banks stay out of trouble," the president and CEO of the Montana Bankers Association said.

By Anna Hrushka • Nov. 18, 2020

Court dismisses loan agents' case seeking cut of banks' PPP processing fees

Plaintiffs alleged the CARES Act entitles them to up to 1% of the processing fees. A judge on Monday said the complaint was "too generalized," but gave the agents 21 days to file a new claim.

By Dan Ennis • Nov. 18, 2020

Moven, Q2 aim to debut digital 'bank-in-a-box' in January

"Now any bank can have its own Marcus or Chime in a matter of a few weeks," said Paul Walker, general manager of Q2's banking-as-a-service division.

By Anna Hrushka • Nov. 17, 2020

SEC charges 2 ex-Wells Fargo executives with misleading investors

The regulator settled charges against former CEO John Stumpf for $2.5 million, and will litigate fraud charges against former community bank chief Carrie Tolstedt in court in connection to the bank's 2016 fake accounts scandal.

By Anna Hrushka • Nov. 13, 2020

Goldman’s 60 new partners are fewer, more diverse than in years past

Thirty-two (53%) are white men, the slightest representation on record for that group. CEO David Solomon opened new investment perks to partners this year, but aimed to keep the list tight while recognizing more than just traders.

By Dan Ennis • Nov. 13, 2020

Twitter to invest $100M in CDFIs in effort to combat racial wealth gap

The social media giant follows a growing number of corporations, including Netflix and PayPal, that have embarked on similar initiatives to funnel more capital to Black and Latinx financial institutions and businesses.

By Anna Hrushka • Nov. 13, 2020

Deutsche researchers propose 5% tax on remote workers, post-pandemic

The tax could generate $48 billion a year, which could fund $1,500 grants for 29 million lower earners in the U.S., the researchers said.

By Dan Ennis • Nov. 13, 2020

Lenders face tough decisions as commercial bankruptcy filings mount

"What I think might be the surprise of 2021 to lenders is the value of their collateral is going to be less than what they think it is, at least in the distressed spaces," attorney Jim Lodoen said.

By Anna Hrushka • Nov. 12, 2020

JPMorgan drops from top of FSB's list of systemically important banks

The lower ranking means any instability at the largest U.S. bank puts the global financial system at less risk. Goldman Sachs and Wells Fargo also ranked less risky, according to the panel's assessment Wednesday.

By Dan Ennis • Nov. 12, 2020

Fifth Third CFO leaves for BMO, prompting C-suite shuffle

Tayfun Tuzun is the second C-suite exec to leave the Cincinnati-based bank in the past two weeks. Executive Vice President Philip McHugh left Oct. 26 and is subsequently suing the bank for age discrimination.

By Jane Thier • Nov. 11, 2020

Bank executives, trade groups react to Biden-Harris victory

Several bank and credit union trade groups, as well as top bank executives, not waiting on a Trump concession, have released statements and congratulatory posts on the highly contested 2020 election.

By Anna Hrushka • Nov. 9, 2020

Capital One, JPMorgan Chase top J.D. Power's small-business satisfaction survey

Businesses that were approved for PPP funding rated their satisfaction at 838 points out of 1,000, while those whose applications were denied — or still pending when the data was collected — rated it 796.

By Dan Ennis • Nov. 3, 2020

Wells Fargo picks Capital One executive to head diversity efforts

The appointment comes after CEO Charlie Scharf apologized for citing a shortage of diverse talent when aiming to double Black leadership at the bank. The Labor Department has questioned that initiative.

By Anna Hrushka • Nov. 3, 2020

Pandemic could accelerate de novos' profitability timeline, experts say

Customers' increased adoption of digital banking amid the pandemic, and the realization banks can operate with less physical space, have enabled de novos to tailor their operating models to a new normal, one attorney said.

By Anna Hrushka • Oct. 30, 2020