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.
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 ...
Breaking down capital requirements - Banking Dive
WEBDec 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.
Citi fined $400M over risk management, data governance issues
WEBOct 8, 2020 · Dive Brief: The Office of the Comptroller of the Currency (OCC) fined Citi $400 million Wednesday over persistent issues in risk management, data governance and internal controls, and ordered the bank to seek the regulator's approval before making any "significant new acquisitions." The OCC also reserved the right to require Citi to make changes to senior management and its board if the ...
Chime customers can deposit funds at Walgreens for free
WEBDec 14, 2021 · Dive Brief: Chime’s new partnership with Walgreens will allow the neobank’s customers to deposit cash for free at the retailer’s more than 8,500 locations, the fintech announced in a blog post Monday.; The San Francisco-based company claims 78% of its estimated 12 million customers live near a Walgreens location.; The latest fintech-retail partnership comes as Walgreens is moving deeper ...
Commercial Banking News | Banking Dive
WEB2 days ago · After Helene, banks aim to meet needs ‘exactly where they’re at right now’ With Hurricane Milton tearing through Florida just after Helene devastated parts of the Carolinas and Tennessee, banks with a heavy Southeast presence are working to provide employees and customers with financial relief and basic needs like showers.
City National names Fifth Third exec as its next CEO
WEBNov 13, 2023 · Los Angeles-based City National Bank is making a switch at the top. The $96 billion-asset Royal Bank of Canada subsidiary named longtime Fifth Third executive Howard Hammond as its next CEO, effective Nov. 27, according to a press release Friday.. But the bank is retaining outgoing CEO Kelly Coffey in a newly created position as CEO of City National Entertainment.
BNY rebrands with new logo but no Mellon | Banking Dive
WEBJun 11, 2024 · Bank of New York Mellon is adopting BNY as its new brand name, as the company aims to simplify its image in the marketplace, the oldest U.S. bank announced Tuesday. BNY Mellon updated its logo to include a modern font and a redefined arrow in a teal color that precedes the all-capitals name.
The banking industry outlook on 2024: The year of wait-and-see
WEBJan 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 …
FDIC gives $5.2B Columbia-Umpqua deal its final sign-off
WEBJan 11, 2023 · The proposed merger between Columbia Banking System and Umpqua Holdings received the last regulatory green light it needed to become final, the companies said Monday.. The Federal Deposit Insurance Corp. (FDIC) approved the $5.2 billion transaction, which the banks now expect to close by the end of February, they said.Columbia and Umpqua extended the merger completion date on their contract to ...