Banking News and Analysis | Banking Dive
WEBThe Italian CEO said a tie-up with Germany’s second-largest lender would be best, but only under the right terms. Meanwhile, if Commerzbank is looking for a lifeline, it won’t be from Deutsche Bank. Banking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the banking industry.
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 …
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 …
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 …
Banking Technology News | Banking Dive
WEBOct 3, 2024 · 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.
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 …
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.
Truist’s premier banking head exits | Banking Dive
WEBAug 28, 2024 · Allison Robinson, head of branch and premier banking at Truist, has left the firm, a company spokesperson confirmed Wednesday. “We wish her well in this next step of her journey,” the spokesperson said in an emailed statement to Banking Dive. Robinson, who has been with Truist for about 21 years, is departing the firm to pursue another ...
Fed, OCC approve BMO’s $16.3B Bank of the West acquisition
WEBJan 18, 2023 · The Federal Reserve and the Office of the Comptroller of the Currency approved Bank of Montreal’s $16.3 billion acquisition of San Francisco-based Bank of the West, the regulators announced Tuesday.. The combination will create the 13th-largest U.S. commercial bank with roughly $256 billion in assets, according to OCC figures. That …
REV Credit Union to buy West Virginia bank | Banking Dive
WEBSep 5, 2024 · Charleston, South Carolina-based REV Federal Credit Union has agreed to acquire Spencer, West Virginia-based First Neighborhood Bank — marking the 15th proposed whole-bank purchase by a credit union this year. Following the transaction announced Tuesday, the $1.1 billion-asset credit union will expand its footprint beyond …