Retail: Page 40
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Courtesy of Verizon
Verizon targets Gen Z market with new digital banking app
For a $5.99 monthly fee, Family Money lets parents monitor and cap their children's spending, block certain spending categories and set up allowances.
By Anna Hrushka • June 18, 2021 -
Christopher Doering/Banking Dive
Grocer Hy-Vee rolls out checking, savings accounts for shoppers
The newly launched financial services program also offers car, home and pet insurance and home and consumer loans through Midwest Heritage, a bank owned by the Iowa-based chain.
By Sam Silverstein • June 18, 2021 -
Explore the Trendline➔
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TrendlineTop 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 -
Chris Hondros via Getty Images
JPMorgan to buy robo-adviser Nutmeg to bolster UK footprint
The deal, for an undisclosed sum, comes months after the bank acknowledged it would launch a digital banking platform in the country this year, and after the two companies partnered on a product in November.
By Dan Ennis • June 17, 2021 -
Permission granted by Better Financial
Neobank Better Financial aims to cushion financial shocks for gig workers
The startup uses account holders' current payroll data and past payroll history to underwrite low-interest emergency loans.
By Anna Hrushka • June 17, 2021 -
Overdraft alternatives
Capital One launches early access to direct deposit
The McLean, Virginia-based bank joins Fifth Third in offering the feature, which is already commonplace among neobanks.
By Anna Hrushka • June 16, 2021 -
Paul Morigi via Getty Images
Goldman's Marcus finds its next CFO within
Liz Ewing, who most recently served as chief of staff for Goldman CFO Stephen Scherr, joined the bank in 2011 and has co-managed its regulatory policy team.
By Dan Ennis • June 16, 2021 -
Drew Angerer via Getty Images
Return to the officeMorgan Stanley, Bank of America CEOs break relative silence on office returns
"[By] Labor Day, I'll be very disappointed if people haven't found their way into the office and then we'll have a different kind of conversation," James Gorman said at a conference.
By Dan Ennis • Updated July 26, 2021 -
Justin Sullivan / Staff via Getty Images
National banks outpace regionals in digital satisfaction: J.D. Power study
Bank of America bested JPMorgan Chase in mobile app satisfaction among national banks. Regions Bank and Huntington Bank took the highest marks among regionals in online and mobile app satisfaction, J.D. Power found.
By Anna Hrushka • June 14, 2021 -
Justin Sullivan via Getty Images
Citi's new 5% cash-back card adapts to users' changing spending habits
Days after Wells Fargo launched a product to compete with the world's top card issuer, Citi rolled out its own offering in a signal that the card space is ready to rebound from a relatively muted 2020.
By Anna Hrushka • June 11, 2021 -
H. Armstrong Roberts via Getty Images
Regions Bank agrees to buy home improvement lender EnerBank for $960M
The tie-up, set to close in the fourth quarter, spotlights the Alabama-based bank's focus on smaller, nonbank acquisitions. Regions opted in 2019 not to renew a home improvement lending partnership with GreenSky.
By Dan Ennis • June 9, 2021 -
Permission granted by U.S. Bank
Why some lenders are going all-in on video banking
OceanFirst Financial plans to extend its video banking services to mobile devices, while U.S. Bank recently added video to its co-browsing service.
By Anna Hrushka • June 8, 2021 -
Permission granted by Dave
Challenger bank Dave to go public through $4B SPAC deal
Victory Park Capital, the Chicago-based investment firm sponsoring the merger, provided a $100 million credit facility to Dave in January, the fintech said.
By Anna Hrushka • June 7, 2021 -
Justin Sullivan via Getty Images
Citi eyes expanded US branch footprint alongside Asia pivot
The bank's strategic revamp and risk control overhaul will take years, CEO Jane Fraser said, adding that Citi's Latin America unit saw a bump once it narrowed its focus to Mexico.
By Dan Ennis • June 7, 2021 -
Permission granted by Huntington Bank
Overdraft alternativesAlly, Huntington launch efforts to curb overdraft fees
Huntington's new $1,000 line of credit may cost the bank $1 million a month but earn customers' loyalty. Ally, meanwhile, eliminated overdraft fees altogether.
By Anna Hrushka • June 2, 2021 -
Szekely, Pedro. (2017). "Chicago Skyline" [Photograph]. Retrieved from Flickr.
Old National would broach Chicago in $2.5B First Midwest merger
The deal, which may close late this year, would forge a $45 billion-asset bank with dual headquarters. Indiana-based Old National would add between 90 and 100 locations around the nation's third-largest city.
By Dan Ennis • June 2, 2021 -
Brian Tucker/Banking Dive
Overdrafts take a second bow as bank CEOs testify in muted House 'sequel'
Citi said it would reconsider a racial audit, Bank of America confirmed a June 1 office return, and Goldman Sachs's David Solomon pushed back on a slavery question.
By Dan Ennis • May 28, 2021 -
Senators, bank CEOs spar on Capitol Hill over compensation, voting rights
Wednesday's hearing showcased how the country's banking sector has become a battleground for lawmakers to debate politically charged issues dividing Republicans and Democrats.
By Anna Hrushka • May 27, 2021 -
Matt Cardy/Getty via Getty Images
HSBC sells 80 branches to Citizens Bank, 10 to Cathay in US retreat
Europe's largest lender is closing 35 to 40 branches but repurposing 20 to 25 other locations as international wealth centers to serve its mostly Asia-based private-banking and wealth-management clients.
By Dan Ennis • May 27, 2021 -
Dan Kitwood/Getty Images News via Getty Images
Neobank Paybby to bring crypto investing to Black and Brown communities
"It's a great new investment class, and the people of our community should have access to this investment class just like anybody else," CEO Hassan Miah said.
By Anna Hrushka • May 25, 2021 -
Mario Tama via Getty Images
Morgan Stanley, ex-chief diversity officer end discrimination case
The bank, which called Marilyn Booker's allegations "sweeping, sensationalized and conclusory," had sought in March to have the case dismissed. Oral arguments had been set for November.
By Dan Ennis • May 25, 2021 -
Teresa Kroeger via Getty Images
Square may soon offer small-business checking and savings accounts, app code shows
The code indicates the company will not charge monthly service fees, minimum balance fees or overdrafts on its checking account, and will offer a 0.5% interest rate on its savings account through 2021, Bloomberg reported.
By Dan Ennis • May 25, 2021 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo’s marketing chief is leaving as bank retires that position
The San Francisco-based lender is also losing its regulatory relations chief, a Wells Fargo spokesman confirmed this week.
By Dan Ennis • Updated May 28, 2021 -
JPMorgan Chase
Banks' succession strategies include 'testing ground' for CEO candidates
JPMorgan Chase and Morgan Stanley's moves show leaders would rather see contenders vie for the top spot than groom a particular candidate, one headhunter says.
By Anna Hrushka • May 21, 2021 -
Chris Hondros via Getty Images
JPMorgan Chase unveils solo healthcare venture
Morgan Health, a successor in spirit to the recently defunct Haven, will come armed with $250 million to invest in innovations in employer coverage and advancements in health equity.
By Dan Ennis • May 21, 2021 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo to offer crypto investment product for wealthy clients
The bank's decision to wade into crypto follows similar moves made by other large institutions, and comes as the nation's top bank regulator has indicated it plans to review past crypto-friendly actions.
By Anna Hrushka • May 20, 2021
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