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We provide business journalism and in-depth insight into the most impactful news and trends shaping banking.
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Banking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the banking industry. The daily email newsletter and website cover topics such as commercial banking, payments, technology, risk, regulations & policy, and more. Banking Dive is a leading industry publication operated by Industry Dive. Our business journalists spark ideas and shape agendas for 13+ million decision-makers in the most competitive industries.
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- Online Audio and Video Media
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- 201-500 employees
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Updates
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In the 24 hours since the Federal Reserve Board's vice chair for supervision, Michael Barr, previewed a revision to regulators' contentious capital requirements proposal, lawmakers, academics and bank executives have weighed in on the tweaks. “We’re fine. We can continue to buy back stock," said Bank of America CEO Brian Moynihan, during a Barclays conference appearance Tuesday. "Now on the other hand, you’ve had successive chairs of the Federal Reserve saying the capital’s right in the industry and suddenly we needed more capital.”
8 crucial reactions to the capital requirements preview
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The Consumer Financial Protection Bureau has ordered TD to pay $28 million for sharing inaccurate customer information with credit reporting agencies and failing to investigate customer disputes, which may have affected consumers’ ability to access credit, the consumer watchdog said Wednesday. https://lnkd.in/e2nBfwyk
TD to pay CFPB $28M for giving credit agencies inaccurate data
bankingdive.com
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Citi’s chief accounting officer and controller, Johnbull Okpara, is leaving his post to pursue another opportunity, the company said Tuesday in a securities filing.
Citi’s chief accounting officer exits
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PNC needs to “pretty aggressively” step up its retail presence in newer markets to support its long-term push for growth in its corporate and institutional banking business, CEO Bill Demchak said this week. He envisions open banking facilitating that. “We’ll pull share out of smaller banks who won’t have the technology to be able to take advantage of open banks,” the CEO of the super-regional lender said.
PNC’s Demchak wants to lean in to open banking for growth
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Huntington National Bank isn’t alone in seeing substantial opportunity in the Carolinas, said Jason Goldberg, an analyst for Barclays. The regional will face a slew of larger competitors there, including Charlotte-based Bank of America and Truist, as well as JPMorganChase and U.S. Bank, which are expanding in the region, he said. Brant Standridge, who left Truist to join Huntington in 2022, said Huntington has been in the Carolinas region with its national specialty businesses, such as healthcare asset-based lending, for about a decade, and expanded its commercial banking footprint into the Carolinas last year. That history plus the bank’s recent experience opening branches in Denver and the Minneapolis area give executives confidence the Carolinas expansion can prove fruitful, he said Monday.
Huntington wants to open 55 branches in Carolinas over 5 years
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Morgan Stanley was fined $2 million by a Massachusetts regulator over its failure to monitor certain stock sales by a former First Republic CEO during the months leading up to the collapse of the California bank in March last year, according to a consent order issued Thursday.
Morgan Stanley fined $2M over ex-First Republic CEO stock sales
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Discover Financial Services’s top lawyer, Hope Mehlman, is leaving the Riverwoods, Illinois-based company later this year. Mehlman will become chief legal and corporate affairs officer for Ally, the digital bank announced Monday.
Discover’s top lawyer to join Ally
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Shift4, which in 2021 committed to invest $27.5 million in SpaceX, hasn’t disclosed to investors this or a previous space flight CEO Jared Isaacman took, or two others he plans to take in coming years. A CEO’s hobbies — whether it’s flying jets, racing cars or orbiting the planet — probably don’t pose a material risk that securities regulators would make a company disclose, Charles Elson, the founding director of the John L. Weinberg Center for Corporate Governance at the University of Delaware, told Legal Dive. But it does raise a central question: Should there be disclosure of an activity that would affect whether an investor would purchase the company’s stock or vote for its management?
The fintech CEO who is becoming a frequent flier with SpaceX
bankingdive.com
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Morgan Stanley has eschewed a 2030 goal to facilitate 50 million metric tons of plastic pollution prevention, removal or reduction, the bank confirmed Thursday to ESG Dive. The goal was absent from the 2023 sustainability report the financial institution released last week.
Morgan Stanley drops plastic pollution financing goal
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