The Latest

  • Patrick and John Collison, Stripe co-founders
    Image attribution tooltip
    Permission granted by Stripe
    Image attribution tooltip

    Stripe unbundles services as industry shifts

    The company’s move to decouple embedded financial services from payment processing means it’s ready to pursue larger customers, analysts said.

  • former binance ceo changpeng zhao
    Image attribution tooltip
    David Ryder via Getty Images
    Image attribution tooltip

    Binance founder Changpeng Zhao gets 4 months in prison

    He pleaded guilty in November to violating anti-money laundering laws. The sentence is less than the 12 to 18 months suggested by guidelines, and less than the three years the DOJ was hoping for.

  • Closeup of a Houston map with a red pin.
    Image attribution tooltip
    zimmytws via Getty Images
    Image attribution tooltip

    Houston area-based TDECU to buy Louisiana bank

    At more than $1.2 billion in assets, Sabine is one of the largest banks to be part of an acquisition by a credit union. It's the eighth such deal this year.

  • The HSBC logo is seen outside a bank branch.
    Image attribution tooltip
    Matt Cardy via Getty Images
    Image attribution tooltip

    HSBC CEO to step down

    “After an intense five years, it is now the right time for me to get a better balance between my personal and business life,” Noel Quinn said Tuesday. HSBC will consider internal and external candidates for the role, it said.

  • A view of the exterior of The Morgan Stanley Headquarters
    Image attribution tooltip
    Michael Lawrence via Getty Images
    Image attribution tooltip

    Morgan Stanley’s $20M bonuses draw proxy adviser’s fire

    Glass Lewis recommended shareholders reject a pay package that gave one-time $20 million awards to the bank's newly minted CEO and his two fellow candidates to succeed James Gorman.

  • fearless girl statue in front of the new york stock exchange
    Image attribution tooltip
    Drew Angerer via Getty Images
    Image attribution tooltip

    State Street, sculptor settle Fearless Girl lawsuit

    State Street and Kristen Visbal reached a settlement over the weekend following mediation. The settlement averted a trial that was set to start between the two parties this week.

  • A New York Community Bank branch location is shown
    Image attribution tooltip
    Spencer Platt / Staff via Getty Images
    Image attribution tooltip

    NYCB postpones annual meeting by 2 weeks

    The bank, at the time of the delay, had yet to say when it would report first-quarter results. Those are coming Wednesday.

  • M&A handshake
    Image attribution tooltip
    iStock via Getty Images
    Image attribution tooltip

    UMB to buy Heartland Financial for $2B

    The deal will mark UMB’s largest acquisition in its 111-year history, increasing total assets by more than 40% to $64.5 billion.

  • The Federal Deposit Insurance Corp. headquarters in Washington, D.C.
    Image attribution tooltip
    Anna Hrushka/Banking Dive
    Image attribution tooltip

    FDIC hits Alabama, Oklahoma banks with consent orders

    In separate orders, the regulator said the banks must step up their anti-money laundering compliance programs and ensure their related training programs are sufficient.

  • A medium shot of Philadelphia City Hall
    Image attribution tooltip
    Mark Makela via Getty Images
    Image attribution tooltip

    Republic First is seized, assets sold to Fulton Bank

    The first bank failure of 2024 punctuates the discord that has brewed at Republic First for more than two years. Fulton, meanwhile, will double its Philadelphia presence through the deal.

    Updated April 29, 2024
  • Header image for "Biden Names 3 Nominees to Fed's Board of Governors"
    Image attribution tooltip
    CFO Editorial Staff
    Image attribution tooltip

    FedNow pricing aimed at avoiding market disruption

    The Federal Reserve sought to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a central bank official said Wednesday.

  • The exterior of a Citizens Bank is pictured.
    Image attribution tooltip
    Kate Tornone/Banking Dive
    Image attribution tooltip

    Citizens Bank funds green jobs program for New York’s offshore wind sector

    The bank’s philanthropic arm will commit $600,000 over two years to financially support Brooklyn-based youth in pursuing careers in the renewable energy sector.

  • Image attribution tooltip
    Thomas Lohnes via Getty Images
    Image attribution tooltip

    Deutsche Bank plans to set aside $1.4B over Postbank case

    A Cologne court intends, at least partially, to favor Postbank shareholders over claims that Deutsche low-balled them in 2010 takeover offers, Deutsche disclosed Friday.

  • An American flag flies in front of the Capital One logo at the bank's headquarters.
    Image attribution tooltip
    Win McNamee via Getty Images
    Image attribution tooltip

    DOJ examines Capital One-Discover deal’s competitive angle

    The Fed and the OCC extended their comment periods on the proposed acquisition until May 31. Capital One doesn’t “take any signaling” from the regulators’ decision, CEO Richard Fairbank said.

  • Customers Bank logo
    Image attribution tooltip
    Permission granted by Customers Bank
    Image attribution tooltip

    Customers Bancorp reframes ex-CFO’s dismissal

    Carla Leibold's departure was by "mutual agreement," not "cause," the bank holding company said in an amended filing. Leibold will receive $2.5 million but will forfeit her equity awards.

  • Martin Gruenberg addresses the Senate Banking Committee.
    Image attribution tooltip
    Win McNamee via Getty Images
    Image attribution tooltip

    FDIC tables asset manager proposal

    The proposed measures were shelved Thursday when FDIC director and Acting Comptroller of the Currency Michael Hsu did not support either one.

  • Image attribution tooltip
    Green Dot
    Image attribution tooltip

    Green Dot CHRO eyes ‘engagement,’ tech hires amid BaaS buildout

    The company has brought aboard a new chief product officer, tech chief and general manager for BaaS over the past six months.

  • A bronze sculpture of an eagle with a 16-foot wingspan adorns the outside of the Federal Reserve Bank of Atlanta.
    Image attribution tooltip
    Jens_Lambert_Photography via Getty Images
    Image attribution tooltip

    Fed seeks 8,000 financial institutions for FedNow

    About 700 financial institutions have connected to the Fed’s instant payment network since last July, with at least 1,000 more in the pipeline, a FedNow official said this week.

  • A side view of a JPMorgan city office building
    Image attribution tooltip
    Chris Hondros via Getty Images
    Image attribution tooltip

    Russian court orders seizure of nearly $440M in JPMorgan funds

    The ongoing legal battle between state-owned VTB Bank and the largest U.S. bank revolves around funds frozen in the wake of Russia’s invasion of Ukraine and subsequent sanctions.

  • Goldman Sachs CEO David Solomon appears onstage.
    Image attribution tooltip
    Paul Morigi via Getty Images
    Image attribution tooltip

    BofA, Goldman shareholders nix proposals to split CEO, chair roles

    Roughly 33% of Goldman voters and 31% of BofA shareholders supported the measures, an uptick from last year for both banks. JPMorgan Chase shareholders will vote on a similar measure next month.

  • Bank of America CEO Brian Moynihan moderates a discussion while seated onstage.
    Image attribution tooltip
    Drew Angerer via Getty Images
    Image attribution tooltip
    Column

    Dive Deposits: Moynihan, Pick are refashioning the buttoned-up earnings call, with words

    Seven comments from executives and officials show varying degrees of unexpected boldness during banks’ most straight-laced period.

  • First Internet Bank
    Image attribution tooltip
    Permission granted by First Internet Bank
    Image attribution tooltip

    First Internet Bank CEO talks M&A, BaaS work

    After its acquisition of First Century Bank fell through in 2022, First Internet built its own banking-as-a-service team, CEO David Becker said. It now counts startup Ramp as a client.

  • fintech graphic
    Image attribution tooltip
    Getty Images/Staff via Getty Images
    Image attribution tooltip

    Synapse signs deal with TabaPay, files for bankruptcy

    TabaPay has set a purchase price of $9.7 million to acquire Synapse's assets — a deal that is pending court approval.

  • A panoramic view of Geneva, Switzerland.
    Image attribution tooltip
    saiko3p via Getty Images
    Image attribution tooltip

    Temenos hires VMware exec as CEO

    Jean-Pierre Brulard will take the reins from Andreas Andreades, who will retire after serving as interim CEO since Max Chuard's departure in January 2023.

  • Abstract blockchain technology concept. Internet security. Isometric digital cube connection background.
    Image attribution tooltip
    TU IS
    Image attribution tooltip

    Figure hires Brex, SoFi vet to succeed Cagney as CEO

    Michael Tannenbaum served as Brex's chief operating officer until January. He cut his teeth as chief revenue officer at SoFi when Mike Cagney was still CEO.