Banking News and Analysis | Banking Dive
NYCB postpones profitability goal to 2026. The embattled bank recorded a $280 million loss for the third quarter and said it expected to post a loss for 2025, while whittling its profit forecast to 75 cents to 80 cents per share rather than $1.25. Commercial.
Breaking down capital requirements - Banking Dive
Dec 4, 2023 · Minimum: 6%, well-capitalized: 8%. Total Risk-Based Capital: This ratio is total capital — tier 1 and tier 2 capital — divided by risk-weighted assets. Minimum: 8%, well-capitalized: 10%. Regulatory scrutiny is common when a bank falls below well-capitalized. For this reason, banks typically look at well-capitalized requirements as a ...
Banking Technology News | Banking Dive
6 days ago · Creditors will receive up to $16.5 billion, nearly two years after their funds were frozen by the crypto firm’s shocking bankruptcy, according to a plan approved by a judge Monday. By Gabrielle Saulsbery • Oct. 8, 2024. More stories. The latest banking technology news for banking professionals.
Bank of America customer data exposed in IT provider breach
Feb 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
Oct 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.
BB&T completes acquisition of SunTrust to form Truist
Dec 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 …
Wells Fargo faces new class-action suit over fake-accounts response
Mar 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 ...
Truist names COO, hires away Wells Fargo exec | Banking Dive
Nov 15, 2023 · Truist created a chief operating officer role and hired away a Wells Fargo executive to become its new chief wholesale banking officer, the bank announced Tuesday.. Truist’s vice chair, Beau Cummins, will become COO immediately, the bank said. Cummins has been with Truist or predecessor SunTrust since 2005, according to his LinkedIn profile.Before becoming vice chair in September 2021 ...
The banking industry outlook on 2024: The year of wait-and-see
Jan 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 proposal that could cut overdraft fees as low as $3.
Truist to close 72 locations by March - Banking Dive
Jan 4, 2024 · Truist plans to close 72 locations, or 3.5% of its branch network, by March, as the Charlotte, North Carolina-based bank responds to changes in client behavior, branch traffic and transaction volume, a bank spokesperson said Wednesday in a statement to Banking Dive. The firm said it sent customers a letter in mid-December explaining the branch ...