Banking News and Analysis | Banking Dive
WEBIf smaller banks aren’t able to attract more deposits, they may have to get comfortable with slower loan growth, the CEO of New Jersey’s First Bank suggested. Banking Dive provides in-depth journalism and insight into the most impactful news …
BB&T completes acquisition of SunTrust to form Truist
WEBDec 9, 2019 · Dive Brief: BB&T finalized its $28 billion purchase of SunTrust on Friday, completing a deal which will form Truist, the sixth-largest bank in the nation.. The transition to the new Truist brand could take up to two years, the company said in a statement. Truist will be headquartered in Charlotte, North Carolina, where 2,000 former BB&T and SunTrust employees will relocate.
Bank of America customer data exposed in IT provider breach
WEBFeb 13, 2024 · A November 2023 “cybersecurity event” at Infosys McCamish Systems exposed Bank of America customer data, according to a breach notification letter from the bank’s outside counsel filed with the Office of the Maine Atto r ney Gene r al.. Customers’ first and last names, addresses, business email addresses, dates of birth and Social Security numbers may have been among the compromised ...
Wells Fargo faces new class-action suit over fake-accounts response
WEBMar 1, 2024 · Wells Fargo was hit with a new lawsuit Thursday alleging the bank did not do enough to reimburse customers affected by its 2016 fake-accounts scandal, Reuters reported. The class-action lawsuit, filed in a San Francisco federal court by Amanda Gonzales, a schoolteacher from New Mexico, comes on the heels of Wells Fargo recently sending letters to customers urging them to contact the bank if ...
Banking Technology News | Banking Dive
WEB3 days ago · Kansas City Fed dissects consumer use of digital payments. About 95.5% of U.S. households have a bank account, and 46.4% use a nonbank payment service, a new report says. Meanwhile, the Boston Fed found more consumers are using credit cards to make ends meet. By Tatiana Walk-Morris • Sept. 30, 2024.
Morgan Stanley to pay $249M to resolve block-trading probe
WEBJan 12, 2024 · Morgan Stanley has agreed to pay $249 million to settle investigations by the Justice Department and Securities and Exchange Commission over the bank’s block-trading practices, the agencies said Friday. The bank admitted to making false statements in connection with block trades from at least June 2018 through August 2021, authorities said.
Huntington dives deeper into Texas - Banking Dive
WEBMar 8, 2024 · Huntington Bank will extend its commercial banking presence deeper into the Lone Star State after launching in the Dallas-Forth Worth area early this year. Local banking industry veteran Clint Bryant will lead Texas as its market president. Bryant took the job in January. “We’re one of the biggest and one of the fastest-growing markets in ...
7 personnel moves that spotlight Truist’s reorganization
WEBOct 9, 2023 · 7. Truist’s deposits unit gets a boost. Jon Ambler will lead the deposits team overseeing consumer and small business deposits, according to Wilson’s memo. The unit takes an elevated role in Truist’s consumer and small business banking division, reflecting “the strategic core value of deposits,” Wilson said.
Citi fined $400M over risk management, data governance issues
WEBOct 8, 2020 · The Office of the Comptroller of the Currency (OCC) fined Citi $400 million Wednesday over persistent issues in risk management, data governance and internal controls, and ordered the bank to seek the regulator’s approval before making any “significant new acquisitions.”. The OCC also reserved the …
Breaking down capital requirements - Banking Dive
WEBDec 4, 2023 · Minimum: 6%, well-capitalized: 8%. Total Risk-Based Capital: This ratio is total capital — tier 1 and tier 2 capital — divided by risk-weighted assets. Minimum: 8%, well-capitalized: 10%. Regulatory scrutiny is common when a …