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Skip to main content CONTINUE TO SITE ➞ DON’T MISS TOMORROW’S BANKING INDUSTRY NEWS Let Banking Dive’s free newsletter keep you informed, straight from your inbox. * Daily Dive M-F Topics include: Commercial banking, payments, credit unions, technology, risk, regulations, policy * Fintech Weekly Every Wednesday Topics covered: Bank/fintech relationship, banks buying fintechs, regulations, rise of neobanks By signing up to receive our newsletter, you agree to our Terms of Use and Privacy Policy. You can unsubscribe at anytime. * Deep Dive * Opinion * Library * Events * Press Releases * Topics Sign up * Search * Sign up Search * Commercial * Retail * Credit Unions * Payments * Regulations & Policy * Technology * Risk * Fintech RETAIL -------------------------------------------------------------------------------- * Oli Scarff via Getty Images BARCLAYS ROLLS OUT REORGANIZATION, EYES £10B IN SHAREHOLDER RETURNS The U.K. bank launched a long-awaited three-year plan Tuesday to split itself into five divisions and cut £2 billion in costs. By Ken McCarthy • Feb. 20, 2024 * “Truist Plaza” by Tyler Lahti is licensed under CC BY-SA 2.0 TRUIST SELLS REST OF INSURANCE ARM VALUED AT $15.5B TO PRIVATE-EQUITY FIRMS Insurance distributors like Truist Insurance Holdings have been attractive to private investors due to their cash flows and risk profile, S&P Global Market Intelligence analyst Tim Zawacki said. The deal is projected to close in the second quarter. By Gabrielle Saulsbery • Feb. 20, 2024 * Explore the Trendline➔ Courtesy of The Howard Hughes Corp. Trendline TOP 5 STORIES FROM BANKING DIVE Banks brace to see if commercial real estate exposure will trigger a rerun of last year’s crisis. And regulators face a mountain of comments from the most contentious proposed rule in decades. By Banking Dive staff * Win McNamee / Staff via Getty Images CAPITAL ONE TO ACQUIRE DISCOVER IN $35.3B DEAL The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network. By Dan Ennis • Feb. 20, 2024 * Anna Moneymaker via Getty Images FED UNVEILS 2024 STRESS TEST SCENARIOS The results of the stress test, which will include 32 banks instead of 23 compared to last year, are expected to be out in June, the Federal Reserve said. By Ken McCarthy • Feb. 16, 2024 * Access now➔ Trendline THE GROWING USE OF AI IN BANKING In the year since ChatGPT debuted, established banks and challengers have raced to harness the technology, and executive talk on AI has become decidedly more plentiful. Access now➔ Trendline THE GROWING USE OF AI IN BANKING In the year since ChatGPT debuted, established banks and challengers have raced to harness the technology, and executive talk on AI has become decidedly more plentiful. * Justin Sullivan via Getty Images WELLS FARGO FAKE-ACCOUNTS CONSENT ORDER LIFTED BY OCC The Office of the Comptroller of the Currency said the bank’s “safety and soundness” and its compliance with regulations have prompted the agency to terminate the 2016 consent order. By Rajashree Chakravarty • Feb. 16, 2024 * Maks_Lab via Getty Images HTLF SHEDS ITS MONTANA FOOTPRINT The Denver-based institution sold six of its branches in Big Sky Country to Kalispell-based Glacier Bank and three others to Miles City-based Stockman Bank. By Ken McCarthy • Feb. 15, 2024 * Photo by Matt Cardy/Getty Images via Getty Images RBC’S CITY NATIONAL CUTS ABOUT 100 EMPLOYEES The job reductions come in addition to a 5% headcount trim the Los Angeles-based bank’s parent company put in place during the quarter that ended Oct. 31. By Dan Ennis • Feb. 15, 2024 * Mario Tama via Getty Images MORGAN STANLEY TO CUT SEVERAL HUNDRED WEALTH MANAGEMENT JOBS: REPORTS Affected employees — mostly non-customer-facing employees and a number of roles made redundant by the E*Trade deal — could be notified this week, sources told The Wall Street Journal. By Dan Ennis • Feb. 15, 2024 * Access now➔ Fotolia Trendline CREATING WINNING CUSTOMER SERVICE IN THE BANKING INDUSTRY Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have. Access now➔ Fotolia Trendline CREATING WINNING CUSTOMER SERVICE IN THE BANKING INDUSTRY Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have. * Jeff Swensen via Getty Images PNC WANTS TO OPEN 100 NEW BRANCHES BY 2028 The bank pledged to invest roughly $1 billion to open locations in cities such as Dallas, Denver and Houston, and to renovate existing branches. By Rajashree Chakravarty • Feb. 14, 2024 * Permission granted by Citizens Financial Group CITIZENS TAPS JPMORGAN VETS TO LEAD PRIVATE BANK The Rhode Island-based lender opened its first private banking office in Boston and said it plans to open offices in Palm Beach, Florida, and Mill Valley, California, this year. By Rajashree Chakravarty • Feb. 9, 2024 * Dan Kitwood/Getty Images News via Getty Images FED ENDS ENFORCEMENT ACTION AGAINST FARMINGTON STATE BANK The small Washington state-based bank was heavily tied to FTX before the crypto exchange’s implosion. By Gabrielle Saulsbery • Feb. 7, 2024 * Chris Hondros via Getty Images JPMORGAN WANTS TO OPEN 500 BRANCHES IN NEXT 3 YEARS The bank is looking to expand in areas such as Boston, Charlotte, Minneapolis, Philadelphia and Washington D.C. — but aims to close another 30 First Republic locations. By Rajashree Chakravarty • Feb. 6, 2024 * Access now➔ Trendline NAVIGATING THE COMPLIANCE LANDSCAPE IN BANKING Compliance is more than just individual orders and actions. Banking Dive explores some of the most-anticipated — and debated — upcoming rules with which banks may have to comply. * Getty Images/Staff via Getty Images TRUIST SELLS ASSET-MANAGEMENT ARM IN $70M DEAL Toronto-based Guardian Capital has agreed to buy Sterling Capital Management, which has roughly $76 billion in assets under management and advisement. By Gabrielle Saulsbery • Feb. 5, 2024 * Tanaonte via Getty Images Column DIVE DEPOSITS: INSIDE THE ‘TAKEOVER ATTEMPT’ AT A LONG-STANDING BLACK BANK An investment fund has sought since August to take control of Carver Federal Savings Bank. The bank finally fought back using its aggressor’s favorite weapon. By Dan Ennis • Feb. 2, 2024 * Thomas Lohnes via Getty Images DEUTSCHE BANK TO CUT 3,500 JOBS BY 2025 The bank also announced it would return €1.6 billion to investors in the first half of 2024. That includes a €675 million share buyback. By Dan Ennis • Feb. 1, 2024 * Justin Sullivan via Getty Images COULD THE FACTORS THAT TOOK DOWN SVB COMBINE FOR A RERUN IN 2024? NYCB’s surprise Q4 loss may stand as a warning — or an outlier — as regional banks fight for deposits, weather real estate woes and wait for interest rates to drop. By Dan Ennis • Jan. 31, 2024 * Art Wager via Getty Images CALIFORNIA BANKS MERGE IN $233.6M DEAL The tie-up between Southern California Bancorp and California BanCorp, set to close in the third quarter, will create a $4.6 billion-asset company in some of the state’s strongest areas for mid-market business banking. By Ken McCarthy • Jan. 30, 2024 * Retrieved from OCC. ‘TROUBLED’ BLUE RIDGE BANK ENTERS CONSENT ORDER WITH OCC The OCC alleged that Blue Ridge’s BSA/AML program experienced ‘systemic internal controls breakdowns’, among other issues, in its second regulatory action against the bank in 18 months. By Gabrielle Saulsbery • Jan. 29, 2024 * Michael M. Santiago via Getty Images GOLDMAN’S GLOBAL BANKING AND MARKETS CO-CHIEF TO LEAVE BANK Jim Esposito — a 28-year veteran who had sought to become the bank’s CEO or president, The Wall Street Journal noted — co-led a unit that brought in two-thirds of Goldman’s revenue last year. By Dan Ennis • Jan. 29, 2024 * Alex Wroblewski via Getty Images JPMORGAN CHASE SHUFFLES C-SUITE EXECS The nation’s largest bank is giving a handful of top executives “broader experience” by reassigning them to roles in new businesses ahead of CEO Jamie Dimon’s eventual retirement, an analyst said. By Gabrielle Saulsbery • Jan. 26, 2024 * Permission granted by Novo NOVO ROLLS OUT AN EMBEDDED PAYROLL TOOL FOR SMALL BUSINESSES Powered by Check, the new tool, Novo Payroll, aims to help small businesses manage their finances from a single platform. By Rajashree Chakravarty • Jan. 24, 2024 * f11photo via Getty Images COMERICA LAYS OFF 250, CLOSES 26 BRANCHES Dubbing the cuts “expense re-calibration efforts,” CFO Jim Herzog said the bank is now better positioned to enhance its funding base, revenue mix, capital efficiency and risk management framework. By Gabrielle Saulsbery • Jan. 24, 2024 * ultramarine5 via Getty Images NBT CEO JOHN WATT TO STEP DOWN IN MAY Scott Kingsley, the Norwich, New York-based bank’s CFO, will assume the top role upon Watt’s retirement. By Rajashree Chakravarty • Jan. 23, 2024 * Mark Lyons via Getty Images FIFTH THIRD AIMS TO OPEN 31 BRANCHES THIS YEAR IN A BET ON SOUTHEAST The bank wants to establish about a 50/50 balance between Southeast and Midwest markets, CEO Tim Spence said. Fifth Third plans to boost its Southeast headcount in commercial banking by up to 15%, Bloomberg reported. By Gabrielle Saulsbery • Jan. 22, 2024 * Alex Wroblewski via Getty Images JPMORGAN’S DIMON, AFTER 4% RAISE, GOT $36M IN 2023 A breakdown of the CEO’s salary shows $1.5 million in base salary and $34.5 million in performance-based variable incentive compensation — $5 million of which will be in cash and the rest in stock. By Rajashree Chakravarty • Jan. 19, 2024 More stories Access now➔ Trendline NAVIGATING THE COMPLIANCE LANDSCAPE IN BANKING Compliance is more than just individual orders and actions. Banking Dive explores some of the most-anticipated — and debated — upcoming rules with which banks may have to comply. 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