Evolve Bank ‘failed in its most basic duty,’ stole from customers ...
Sep 18, 2024 · Evolve Bank ‘failed in its most basic duty,’ stole from customers: lawsuit The allegations come from Yotta Technologies, a fintech that says its customers are currently locked out of more than $100 million in funds.
5 lessons learned from Synapse’s collapse | Banking Dive
Oct 30, 2024 · Amid the Synapse ordeal, the FDIC proposed a recordkeeping rule last month to bolster recordkeeping for bank deposits received from third-party or non-bank entities that accept those deposits on behalf of consumers and businesses. The proposal aims to address the risks related to these third-party arrangements, like faulty account ledgering, and protect depositors.
2025 banking conference roundup | Banking Dive
Oct 1, 2024 · A gathering centered on strategy sessions meant to grow businesses and brands. It’s aimed at bankers and other finance professionals, but it’s drawing talent from outside that sphere — with keynotes from Kevin O’Leary of “Shark Tank” fame and renowned animal trainer Cesar Millan and a comedy set from “Saturday Night Live” alum David Spade.
Arizona credit union-bank deal pushes 2024 to new record
Oct 4, 2024 · Dive Brief: Phoenix, Arizona-based OneAZ Credit Union has agreed to acquire 1 st Bank Yuma in an all-cash transaction, the companies announced Thursday.; That makes a record 17 announced instances this year of credit unions buying whole banks – …
Breaking down capital requirements - Banking Dive
Dec 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.
Banking News and Analysis | Banking Dive
Banking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the banking industry.
How the role of chief risk officer at banks is evolving
Nov 19, 2024 · The extended absence of a chief risk officer at Silicon Valley Bank, in the months before it failed, underscored the position’s significance — especially as risk chiefs have gained prominence at banks over the past 15 years.. SVB’s March 2023 collapse offered a stark reminder “of the cost of not managing risk effectively on an ongoing basis,” said James Lam, a risk management consultant.
Wells Fargo faces new class-action suit over cash sweeps
Sep 26, 2024 · A new class-action lawsuit accuses Wells Fargo of underpaying interest to clients in its cash sweep program. In the proposed class action brought against the San Francisco-based lender, plaintiff Darren Cobb accuses Wells Fargo of breach of fiduciary duty, fair dealing, breach of contract and unjust enrichment.
Huntington wants to open 55 branches in Carolinas over 5 years
Sep 9, 2024 · Dive Brief: Huntington Bank is expanding in North and South Carolina, targeting 55 branch openings in those states over the next five years, the Columbus, Ohio-based lender said Monday.; The first North Carolina branches will be located in Charlotte, Raleigh and Winston-Salem, while initial South Carolina branches will be established in Charleston, Columbia and Greenville, said CFO Zach ...
NYCB rebrands as Flagstar Financial | Banking Dive
Oct 17, 2024 · NYCB’s financial health came under scrutiny when the parent company of Flagstar Bank disclosed in January a $252 million loss over commercial real estate exposure and cut its quarterly dividend by 70%. The announcement sent NYCB’s share price into a tailspin that continued as the bank took larger losses and named a new CEO.