Retail: Page 9
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Goldman considering bonuses for private bank referrals: report
Executives are considering relying on a formula to calculate bonus pay for investment bankers who refer clients to Goldman's private bank, sources told the Financial Times.
By Gabrielle Saulsbery • June 3, 2024 -
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Supreme Court remands BofA escrow dispute to appeals court
The nation’s highest court said the lower court "did not conduct the kind of nuanced comparative analysis" required by federal law and a previous Supreme Court ruling.
By Gabrielle Saulsbery • May 31, 2024 -
Explore the Trendline➔
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TrendlineM&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 -
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Truist CEO on cost cuts: We needed ‘a shock to the system’
Bill Rogers detailed the "discipline," "intensity" and fresh mindset the bank has adopted eight months after launching an effort to "reorient" itself.
By Caitlin Mullen • May 31, 2024 -
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Zelle faces Senate probe on fraud
“The scale of fraud on the Zelle platform is unacceptably high,” National Consumers League Vice President John Breyault said.
By James Pothen • May 31, 2024 -
Michael M. Santiago / Staff via Getty Images
Goldman alum Esposito lands at Citadel Securities
The 28-year Goldman vet will take on a new role as president at the market maker. He'll join in September and be responsible for growing client and partner relationships.
By Dan Ennis • May 31, 2024 -
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Dimon: ‘No magic formula’ on CEO, chairman moves
The JPMorgan CEO largely pinned his future timeline on the board Wednesday during a conference appearance, while Wells Fargo CEO Charlie Scharf detailed his investment-banking growth strategy.
By Caitlin Mullen • May 29, 2024 -
Ex-Heartland Tri-State CEO pleads guilty to embezzling $47M in crypto
Shan Hanes also stole money from his church and a local investment club, according to court documents. Both have since disbanded. He faces 30 years in prison.
By Gabrielle Saulsbery • May 29, 2024 -
Joe Raedle / Staff via Getty Images
TD CEO: Spending on AML remediation could extend into 2025
TD’s Bharat Masrani declined to say whether the Canadian lender expects closure this year on investigations into the bank’s AML program, citing ongoing conversations with regulators and the DOJ.
By Caitlin Mullen • May 23, 2024 -
SouthState to acquire Independent Bank in $2B deal
The transaction, expected to close in the first quarter of 2025, is set to expand SouthState’s footprint in Texas and Colorado.
By Rajashree Chakravarty • May 21, 2024 -
Permission granted by Block
Sorry, Cash App. Gen Z still wants bank branches.
Young consumers are open to using the peer-to-peer payments app as their primary bank, but many say they won’t switch because they value having a physical branch.
By James Pothen • May 21, 2024 -
Spencer Platt / Staff via Getty Images
NYCB’s COO resigns
Julie-Ann Signorille-Browne led the bank’s integration with Flagstar and, later, the integration of assets and liabilities NYCB bought from the failed Signature Bank.
By Dan Ennis • May 17, 2024 -
Zhanna Hapanovich
Alerus Financial to buy Minnesota bank in $116M deal
The combined company will have roughly $5.5 billion in assets after the transaction, which is expected to close in the fourth quarter.
By Rajashree Chakravarty • May 16, 2024 -
Joe Raedle / Staff via Getty Images
Fed, OCC to hold meeting July 19 on Capital One-Discover deal
At $35.3 billion, the acquisition is well above the size that typically sees a public hearing by regulators. Agencies are eyeing tougher merger scrutiny, but that idea has received partisan backlash.
By Lynne Marek • May 15, 2024 -
Anna Moneymaker via Getty Images
CFG Bank launches accounts to boost Key Bridge relief efforts
A money market account through the bank is donating 0.05% of accrued interest to a nonprofit fund offering financial support for families affected by the bridge collapse.
By Gabrielle Saulsbery • May 14, 2024 -
United Bank to buy Piedmont in $267M deal
The acquisition is United’s first under CEO Richard Adams Jr., and would help the bank broach the Atlanta area — and Georgia altogether — for the first time.
By Gabrielle Saulsbery • May 13, 2024 -
Permission granted by Fifth Third
Fifth Third launches ‘reimagined’ eBus with SpringFour
The eBus will travel to underserved communities across the bank’s footprint and give consumers access to around 24,000 nonprofit resources through its collaboration with the social impact fintech.
By Rajashree Chakravarty • May 8, 2024 -
Chip Somodevilla via Getty Images
Chime dinged by CFPB for delayed customer refunds
“When Chime discovered the issue, we worked with our vendor to resolve the error and issued refunds to impacted consumers,” a Chime spokesman said, adding that most issues occurred in 2020 and 2021.
By Gabrielle Saulsbery • May 7, 2024 -
Pgiam via Getty Images
FirstSun, HomeStreet seek charter change for merger
FirstSun opted for a Texas state charter to skirt oversight by the OCC. Executives said that agency is slowing the banks’ tie-up over concerns with HomeStreet's CRE exposure.
By Dan Ennis • May 6, 2024 -
Courtesy of U.S. Bank
U.S. Bank promotes Kedia to president
Elevating the bank’s vice chair of wealth, corporate, commercial and institutional banking likely positions Gunjan Kedia as the successor to CEO Andy Cecere, a Piper Sandler analyst said.
By Caitlin Mullen • May 6, 2024 -
Drew Angerer / Staff via Getty Images
TD faces DOJ probe over fentanyl-tied money laundering: report
Criminals allegedly laundered millions of dollars of fentanyl proceeds through TD branches in New York and New Jersey, according to The Wall Street Journal.
By Gabrielle Saulsbery • May 3, 2024 -
Drew Angerer / Staff via Getty Images
Wells Fargo shareholders reject union-busting audit
Workers at a handful of the bank’s 4,000 branches have made a splash in recent months by voting to unionize.
By Gabrielle Saulsbery • May 1, 2024 -
Spencer Platt / Staff via Getty Images
NYCB posts $335M loss, but shares jump on turnaround plan
CEO Joseph Otting said the lender has “identified an opportunity” to sell $5 billion in assets but declined to share details until a deal is final.
By Caitlin Mullen • May 1, 2024 -
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Morgan Stanley’s $20M bonuses draw proxy adviser’s fire
Glass Lewis recommended shareholders reject a pay package that gave one-time $20 million awards to the bank's newly minted CEO and his two fellow candidates to succeed James Gorman.
By Dan Ennis • April 30, 2024 -
Spencer Platt / Staff via Getty Images
NYCB postpones annual meeting by 2 weeks
The bank, at the time of the delay, had yet to say when it would report first-quarter results. Those are coming Wednesday.
By Caitlin Mullen • April 30, 2024 -
TriggerPhoto via Getty Images
UMB to buy Heartland Financial for $2B
The deal will mark UMB’s largest acquisition in its 111-year history, increasing total assets by more than 40% to $64.5 billion.
By Gabrielle Saulsbery • April 29, 2024
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