Banking News and Analysis | Banking Dive
WEBBanking Dive covers the latest news and trends in the banking industry, from mergers and acquisitions to fintech innovations and regulatory updates.
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 ...
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.
PNC could cut more than 2,400 employees: report - Banking Dive
WEBOct 13, 2023 · PNC foreshadowed its layoffs Tuesday, saying it had reviewed its organizational structure with an eye toward expense management, and had “identified an opportunity to better position our company for long-term success,” according to a statement seen by the Pittsburgh Business Times. “This includes a shift away from work not fully aligned to our strategic priorities and will result in a ...
Breaking down capital requirements - Banking Dive
WEBDec 4, 2023 · Picture this: You’re in your car, driving down the road, and something goes awry. Your car is out of control, and it comes to an abrupt stop when it hits something; and it hits something hard enough that your airbags deploy.
Wells Fargo hires BNY’s ex-CIO to serve as tech chief
WEBJul 31, 2024 · Dive Brief: Wells Fargo has named BNY’s former chief information officer, Bridget Engle, as its head of technology, effective Aug. 12, the San Francisco-based lender said Tuesday in a release.; Tracy Kerrins — who took the bank’s tech chief role last year — was named head of consumer technology, Wells said in the release. In that role, Kerrins will lead a new generative AI team and ...
USAA notches latest mobile-deposit victory with Discover deal
WEBSep 6, 2023 · Dive Insight: USAA claims it has the rights to the tech that lets customers deposit checks using their phones. USAA sent letters to 100 banks in 2017, offering a “licensing program” to pay for the capabilities, warning the banks they were violating the company’s patents.
Commercial Banking News | Banking Dive
WEB4 days ago · Top 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.
Truist names COO, hires away Wells Fargo exec | Banking Dive
WEBNov 15, 2023 · Truist created a chief operating officer role and hired away a Wells Fargo executive to become its new chief wholesale banking officer, the bank announced Tuesday.. Truist’s vice chair, Beau Cummins, will become COO immediately, the bank said. Cummins has been with Truist or predecessor SunTrust since 2005, according to his LinkedIn profile.Before becoming vice chair in September 2021 ...
Deep Dive - Banking Dive
WEBJan 10, 2024 · A year after SVB, what’s improved and what needs work? Banking Dive looks at six factors — from upcoming regulations to commercial real estate — to see how the landscape has changed between the crises of 2023 and 2024.