Banking News and Analysis | Banking Dive
WEBFive Star Bank expands, eyeing First Republic, Signature customers. The $3.7 billion-asset commercial bank seeks to capitalize on the absence of failed San Francisco-area banks by snagging some of their former employees and emphasizing customer service. Banking Dive provides in-depth journalism and insight into the most impactful news and ...
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.
Gemini launches crypto-based savings product offering up to …
WEBFeb 3, 2021 · The cryptocurrency exchange Gemini on Tuesday launched a savings product, dubbed Earn, that lets customers move their holdings in Bitcoin, or any of the 26 cryptocurrencies Gemini supports, into accounts yielding interest as high as 7.4%. Gemini said it can afford to pay relatively high rates — by …
Wells Fargo gives CEO Charlie Scharf an 18.4% raise, to $29M
WEBJan 26, 2024 · Scharf’s compensation package represents an 18.4% boost over the $24.5 million he received for 2022. That raise is in line with at least one other package that was disclosed last week for a big-bank CEO: Morgan Stanley’s James Gorman saw his compensation jump 17.5% in 2023, his final year as chief executive. Access now .
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 …
Goldman Sachs expands Marcus checking account beta tests to all …
WEBApr 22, 2022 · Dive Brief: Goldman Sachs expanded beta testing of its highly anticipated checking account this week to include all of its more than 20,000-person U.S.-based workforce, Stephanie Cohen, the bank’s global co-head of consumer and wealth management, told CNBC in a statement Thursday. The bank is expected to release the product to the public this year, Goldman CFO Denis Coleman told analysts ...
Truist spent $125M on rebrand, court document shows
WEBMay 19, 2020 · Truist has spent $125 million on its new brand, the bank said in a court filing Friday, according to The Charlotte Observer. That breaks down to $7 million to create the name; $4 million for it to be approved by regulators and shareholders; $40 million to configure operating systems to reflect the new branding; and $75 million in marketing.
7 personnel moves that spotlight Truist’s reorganization
WEBOct 9, 2023 · Here are seven personnel moves that could help define Truist’s restructuring: 1. The bank’s chief marketing officer is out. Vinoo Vijay, who has served as Truist’s CMO since 2020, will leave the bank this week and relocate to California, he wrote in a LinkedIn post Thursday. Access now .
Fintech Copper burned by Synapse collapse | Banking Dive
WEBMay 29, 2024 · Teen-focused fintech Copper was forced to abruptly terminate its bank deposit accounts and debit card services this month, reflecting the impact felt by the collapse of banking-as-a-service provider Synapse. In a recent letter to Copper customers, Eddie Behringer, co-founder and CEO of Copper, …
Banking Technology News | Banking Dive
WEB3 days ago · Open technology empowers banks to thrive in a dynamic digital world. Today’s banking and financial services industry is characterized by constant, rapid change. By Joe Gomez - General Manager for US Mid-Market Core and Digital, Finastra • Aug. 26, 2024.