Banking News and Analysis | Banking Dive
WEBTDECU fell victim to last year’s MoveIt data breach, but only found out in July. The credit union said the incident is not expected to impact its acquisition of a Louisiana 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 SunTrust employees will relocate.
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 .
U.S. Bank to take over State Farm banking operations
WEBMar 6, 2020 · Dive Brief: In a move to exit the banking business, State Farm later this year will begin turning over its deposit and credit card accounts to U.S. Bank in a strategic alliance the insurance company announced on Thursday. “State Farm has been committed to helping people for nearly 98 years,” president and CEO Michael Tipsord said.
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 ...
Wells Fargo launches new commercial banking platform
WEBDec 5, 2022 · Wells Fargo on Monday announced the launch of a new commercial banking platform — a revamp the San Francisco-based bank says leverages artificial intelligence and machine learning to help clients personalize their accounts. The platform, called Vantage, replaces the bank’s Commercial Electronic Office Portal, or CEO Portal, which it ...
Fed approves Citizens' $3.5B acquisition of Investors Bancorp
WEBMar 23, 2022 · The Fed has since approved both of those delayed deals — the former in December and the latter this month — as well as a few more. The central bank signed off on Webster Bank ’s $5.1 billion all-stock acquisition of Sterling Bancorp — and WSFS Financial ’s $976.4 million purchase of Bryn Mawr Trust — in December.
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 Security numbers may have been among the compromised ...
Women-owned de novo to open in Houston after pandemic …
WEBMay 18, 2022 · The bank has since overcome its fundraising hurdle and will open with $35 million in capital, surpassing its $30 million requirement. Agility’s mission is to promote financial parity for women and boasts a diverse leadership structure – a requirement of MDIs. Agility’s board is 75% minority and 54% of its ownership is minority.
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. purchase licensing rights.
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