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.
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 ...
PNC agrees to buy BBVA’s US arm for $11.6B | Banking Dive
WEBNov 16, 2020 · The $11.6 billion deal is the largest for the U.S. banking industry since the $28 billion merger of SunTrust and BB&T that created Truist in 2019.. Buying BBVA's U.S. operations will boost PNC's earnings by about 21% in 2022 and generate more than $900 million of cost savings related to the overlap of global management and regulatory costs, the Pittsburgh-based bank said Monday.
Capital One launches early access to direct deposit
WEBJun 16, 2021 · CC: Tdorante10. Capital One will offer early direct deposit to eligible account holders, becoming the latest incumbent bank to launch a product mirroring offerings found at challengers, the McLean, Virginia-based institution announced Wednesday. The bank said it is launching the new product, which offers …
Goldman sells Marcus Invest accounts to Betterment
WEBApr 23, 2024 · Dive Insight: The sale marks the latest step in the dismantling of Goldman’s once-heavy bet on consumer banking. Goldman last month closed its sale of installment lender GreenSky to an investor group led by Sixth Street.. Marcus Invest launched in February 2021, in large part as an appeal to retail investors, who could open accounts with as little as $1,000.
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.
First Financial buys SimplyBank to expand in Southeast
WEBNov 16, 2023 · Nuthawut Somsuk via Getty Images. Indiana-based First Financial will buy Tennessee-based SimplyBank in effort to grow its Southeast U.S. footprint, the banks announced Tuesday. The $4.8 billion asset Midwestern bank will pay $73.4 million cash for SimplyBank, which has $702 million in assets, 10 Tennessee branches and …
FinCEN fines Puerto Rico bank $15M on alleged BSA violations
WEBSep 18, 2023 · The Financial Crimes Enforcement Network ordered Bancrédito International Bank and Trust Corp. to pay $15 million to resolve an investigation into alleged Bank Secrecy Act violations, the agency announced Friday. Bancrédito failed to timely file suspicious activity reports between October 2015 and …
Capital One cuts 1,100 tech jobs - Banking Dive
WEBJan 20, 2023 · Capital One’s cuts this week make it just the latest financial institution to reduce headcount by 1,000 workers or more over the past month or two. Morgan Stanley in December said it would slash 1,600 jobs. Goldman Sachs last week began a cull that could cut loose 3,200 employees. And BNY Mellon last week announced it would cut 1,500 jobs ...
Skip to content