Banking News and Analysis | Banking Dive
WEBLas Vegas’ Lexicon Bank bets on growth with nonprofits. As a de novo, the lender experienced quick growth through PPP loan processing. Now, it aims to build on its business with nonprofits, CEO Stacy Watkins said. Banking Dive provides in-depth journalism and insight into the most impactful news …
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.
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 the Carolinas 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 recently sending letters to customers urging them to contact the bank if ...
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 ...
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.
Greenlight CEO talks partnerships, forthcoming features
WEBAug 28, 2024 · Going beyond its banking scope, the fintech that caters to parents and kids sees safety as an area of continued opportunity, said CEO and co-founder Tim Sheehan. Atlanta-based fintech Greenlight is working to secure more partnerships akin to those it’s struck with U.S. Bank and Workday. The company, which offers a …
Banking Technology News | Banking Dive
WEB4 days ago · 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.
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.
Commercial Banking News | Banking Dive
WEBSep 30, 2024 · EverBank to buy Michigan’s Sterling Bank for $261M. The deal includes 25 branches, $900 million in loans and $2 billion in deposits; but not Sterling’s sole Michigan branch or its $372.9 million portfolio of residential tenant-in-common mortgage loans. By Gabrielle Saulsbery • Sept. 16, 2024.