Puerto Rico’s biggest bank names next CEO

Javier Ferrer will be elevated to CEO from his current post as president and operations chief once CEO Ignacio Alvarez steps down at the end of June.

By Gabrielle Saulsbery • Feb. 28, 2025

CFPB ditches lawsuit against Capital One

The bureau reversed course Thursday after accusing the bank last month of obscuring a higher-paying savings product from some legacy savings account holders.

By Caitlin Mullen • Feb. 28, 2025

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

TD racks up AML remediation costs

After spending $86 million in Q1, the bank expects to spend $500 million on AML remediation costs and governance and control investment in fiscal 2025.

By Gabrielle Saulsbery • Feb. 27, 2025

Old Second boosts Chicago-area footprint in $197M Evergreen deal

The transaction will allow Old Second to expand into powersports lending. The deal comes six months after the bank agreed to buy five Chicago-area branches from Indiana’s First Merchants Bank.

By Dan Ennis • Feb. 26, 2025

JPMorgan to lay off 121 in NJ

The cuts are part of what was previously reported, according to a spokesperson. Hundreds of open positions remain in New Jersey.

By Gabrielle Saulsbery • Feb. 25, 2025

CFPB drops case against SoLo Funds

The bureau’s lawsuit against the online lending platform – filed during Rohit Chopra’s tenure – “was wrong” and “the weaponization of ‘consumer protection’ must end,” the CFPB’s Acting Director Russ Vought said Sunday.

By Caitlin Mullen • Feb. 24, 2025

UMB embraces ‘consolidator’ role

The bank’s recent acquisition of HTLF boosted its wealth business by 32% “overnight” and doubled its branch footprint. But UMB CEO Mariner Kemper said he is taking systems conversion deliberately slowly.

By Caitlin Mullen • Feb. 20, 2025

Citi’s Sieg sees tech lag as an invitation to innovation

The bank’s market position – behind its peers – is a challenge that allows it to find ways to leapfrog competitors, Citi’s wealth chief said.

By Caitlin Mullen • Feb. 13, 2025

‘Taking stock’: BofA and JPMorgan execs weigh in on Trump 2.0

While Bank of America CEO Brian Moynihan called the recent regulatory shift “classic re-engineering,” one peer exec said the changes “are taking all the oxygen in the room.”

By Caitlin Mullen • Feb. 12, 2025

Citi’s year-end promotions total 8,500

That figure was similar to past years, following the bank’s broad reorganization and despite earlier reporting Citi would promote far fewer employees in 2024.

By Caitlin Mullen • Feb. 7, 2025

Ex-Huntington branch manager sues bank, raising FMLA allegations

Terri Estepp alleged she was fired from Huntington Bank after nearly 28 years because she took FMLA leave to care for her dying daughter. The bank said her termination is unrelated.

By Gabrielle Saulsbery • Feb. 6, 2025

Fed terminates 2 Wells Fargo consent orders

Both orders were issued in 2011 and address mortgage business issues. Wells has resolved nine consent orders since 2019, and five remain, the bank said.

By Gabrielle Saulsbery • Feb. 4, 2025

OCMBC appoints new president after exec is charged with murder, DUI

Serene Vernon has been placed on leave following a vehicle accident that left a man dead Friday. John Hamel has replaced her as president.

By Gabrielle Saulsbery • Feb. 4, 2025

Citizens chief experience officer to retire

Beth Johnson, who’s held key leadership roles at the bank for 11 years, will step down in March. The bank is hiring for a new senior executive role overseeing an expanded corporate strategy function.

By Rajashree Chakravarty • Feb. 3, 2025

Santander names next US CEO

Christiana Riley’s appointment is part of a greater restructuring, a source told Reuters. Her appointment was announced by Executive Chair Ana Botin on LinkedIn.

By Gabrielle Saulsbery • Feb. 3, 2025

What’s coming for the banking industry in 2025

Banking Dive takes a look at several trend areas — from M&A to regulation — to give its best guess on developments to come this year. But as observers in the ESG sector will tell it, change has been rapid and thorough.

By Banking Dive staff • Jan. 31, 2025

Flagstar to close roughly 60 retail branches this year

The bank also aims to shutter 20 private-client retail locations as part of its efforts to cut $600 million in costs in 2025, CFO Lee Smith said Thursday.

By Caitlin Mullen • Jan. 30, 2025

Frost Bank exec: AI to usher in simpler mobile banking era

As bank apps stuffed with features have become complicated, AI will enable apps to become smarter and more customized for customers, said Jimmy Stead, the lender’s consumer banking and technology chief.

By Caitlin Mullen • Jan. 29, 2025

U.S. Bank’s Kedia to become CEO in April

The super-regional lender’s president, Gunjan Kedia, will become the second woman leading a top-10 American bank when she replaces Andy Cecere on April 15.

By Caitlin Mullen • Jan. 28, 2025

Chopra urges regulatory action to confront de-banking

The CFPB director faulted the lack of transparency around bank decisions to close accounts and said it’s worth exploring what appeal rights customers could be entitled to.

By Caitlin Mullen • Jan. 28, 2025

Fulton Bank to close 15 locations

The Pennsylvania bank, which acquired Republic First after it failed last April, won’t be shuttering any of Republic First’s former branches.

By Gabrielle Saulsbery • Jan. 23, 2025

Patriot Bank, OCC ink deal over ‘troubled’ condition

The Connecticut lender is taking remedial steps after the OCC found “unsafe or unsound practices” and violations related to strategic and capital planning and AML risk management. 

By Rajashree Chakravarty • Jan. 22, 2025

Ally to sell credit card business to CardWorks

Plans for the sale were hinted at earlier this year, a month after the CEO said the business wasn’t within Ally’s core focus.

By Gabrielle Saulsbery • Jan. 22, 2025

TD slashes pay for 41 execs, expedites Chun’s start date

Compensation cuts reflect “the seriousness of the U.S. [anti-money laundering] failures, the associated costs to the Bank, and the limitations imposed on the U.S. retail business,” the bank said Friday.

By Caitlin Mullen • Jan. 17, 2025

U.S. Bank scouts for agentic AI as age of ‘do it for me’ awaits

The super-regional’s chief innovation officer said there’s a fine line between being proactive and helpful, versus being proactive and creepy. “We don’t want to cross the creepy line,” he said.

By Caitlin Mullen • Jan. 16, 2025