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.
5 lessons learned from Synapse’s collapse | Banking Dive
Oct 30, 2024 · Amid the Synapse ordeal, the FDIC proposed a recordkeeping rule last month to bolster recordkeeping for bank deposits received from third-party or non-bank entities that accept those deposits on behalf of consumers and businesses. The proposal aims to address the risks related to these third-party arrangements, like faulty account ledgering, and protect depositors.
Wells Fargo gives CEO Charlie Scharf an 18.4% raise, to $29M
Jan 26, 2024 · Dive Brief: Wells Fargo paid CEO Charlie Scharf $29 million for 2023, the bank said Thursday in a filing with the Securities and Exchange Commission.; As with the previous year, Scharf asked Wells Fargo’s human resources committee to “exercise negative discretion” and pay him less than it otherwise would have — to reflect that “more work remains ahead” for the bank, Wells said in ...
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.
Navy Federal to pay $95M in CFPB overdraft case | Banking Dive
Nov 8, 2024 · Dive Brief: Vienna, Virginia-based Navy Federal Credit Union must pay more than $95 million in refunds and civil penalties related to surprise overdraft fees, the Consumer Financial Protection Bureau said Thursday.; From 2017 to 2022, the $171 billion-asset credit union charged customers overdraft fees on certain ATM withdrawals and debit card purchases, even when their accounts showed ...
2025 banking conference roundup | Banking Dive
Oct 1, 2024 · A gathering centered on strategy sessions meant to grow businesses and brands. It’s aimed at bankers and other finance professionals, but it’s drawing talent from outside that sphere — with keynotes from Kevin O’Leary of “Shark Tank” fame and renowned animal trainer Cesar Millan and a comedy set from “Saturday Night Live” alum David Spade.
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 ...
FirstSun, HomeStreet terminate merger | Banking Dive
Nov 20, 2024 · Denver-based FirstSun Capital Bancorp and Seattle-based HomeStreet have agreed to terminate their proposed merger after determining “it is in the best interests of their respective companies,” both firms said in filings Tuesday.. The termination comes roughly three weeks after the banks disclosed they were “discussing the pursuit of an alternative regulatory structure ” for the deal ...
Fifth Third uses heat mapping to plot where to put new branches
Dec 4, 2024 · Fifth Third uses heat mapping to plot where to put new branches A tool to analyze existing retailers, competitor presence, local income and cell phone data is helping the super-regional place 200 added locations by 2028.
Busey, CrossFirst to merge in $916.8M deal - Banking Dive
Aug 27, 2024 · Dive Brief: Champaign, Illinois-based Busey Bank and Leawood, Kansas-based CrossFirst Bank will merge in a $916.8 million all-stock transaction set to close in the first half of 2025, the banks said Tuesday.; The combination will create a bank with a 10-state footprint, counting 77 locations, roughly $20 billion in assets, $17 billion in deposits, $15 billion in loans and $13 billion in wealth ...