The banking industry outlook on 2024: The year of wait-and-see
Jan 30, 2024 · Banking Dive looks at nine of the most critical opinions regarding the rule. But 2024’s regulatory landscape hardly ends there. Regulators have begun the year at a torrid clip. The OCC suggested doing away with a hastened version of bank merger review.. The Consumer Financial Protection Bureau floated a proposal that could cut overdraft fees as low as $3.
Banking News and Analysis | Banking Dive
Banking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the banking industry.
Evolve Bank ‘failed in its most basic duty,’ stole from customers ...
Sep 18, 2024 · Evolve Bank ‘failed in its most basic duty,’ stole from customers: lawsuit The allegations come from Yotta Technologies, a fintech that says its customers are currently locked out of more than $100 million in funds.
Huntington wants to open 55 branches in Carolinas over 5 years
Sep 9, 2024 · Dive Brief: Huntington Bank is expanding in North and South Carolina, targeting 55 branch openings in those states over the next five years, the Columbus, Ohio-based lender said Monday.; The first North Carolina branches will be located in Charlotte, Raleigh and Winston-Salem, while initial South Carolina branches will be established in Charleston, Columbia and Greenville, said CFO Zach ...
Breaking down capital requirements - Banking Dive
Dec 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 faces new class-action suit over cash sweeps
Sep 26, 2024 · A new class-action lawsuit accuses Wells Fargo of underpaying interest to clients in its cash sweep program. In the proposed class action brought against the San Francisco-based lender, plaintiff Darren Cobb accuses Wells Fargo of breach of fiduciary duty, fair dealing, breach of contract and unjust enrichment.
Truist approves $4.5M bonuses for CFO, top consumer banker
Sep 3, 2024 · Dive Brief: Truist is giving CFO Mike Maguire and Dontá Wilson, the bank’s chief consumer and small-business banking officer, “leadership awards” valued at $4.5 million, according to a Friday filing with the Securities and Exchange Commission.; The awards, in the form of performance share units, were given “to support the retention of key leadership critical to taking full advantage ...
NYCB rebrands as Flagstar Financial | Banking Dive
Oct 17, 2024 · NYCB’s financial health came under scrutiny when the parent company of Flagstar Bank disclosed in January a $252 million loss over commercial real estate exposure and cut its quarterly dividend by 70%. The announcement sent NYCB’s share price into a tailspin that continued as the bank took larger losses and named a new CEO.
Fifth Third fined $20M over fake accounts, auto repossessions
Jul 9, 2024 · Dive Brief: The Consumer Financial Protection Bureau on Tuesday hit Fifth Third with $20 million in penalties — $15 million for allegedly opening unauthorized accounts in customers’ names and $5 million for allegedly forcing vehicle insurance onto borrowers who already had coverage.. In addition to the penalties, Fifth Third must compensate roughly 35,000 harmed consumers, including 1,000 ...
Five Star Bank bets on its California roots in Bay Area move
Aug 27, 2024 · Count Five Star Bank among the lenders seeking to swoop in after the collapse of First Republic and other banks that catered to Silicon Valley businesses — except the Sacramento-area bank’s CEO makes a notable distinction.