Banking Dive provides in-depth journalism and insight into the most impactful news and trends shaping the banking industry.

Oct 3, 2024 · Thousands of Bank of America customers Wednesday reported trouble accessing their online accounts, according to tech disruption monitor Downdetector and various social media platforms.. Some users said they were unable to sign in.

Dec 19, 2024 · Dive Brief: The Office of the Comptroller of the Currency has hit USAA Federal Savings Bank with a “comprehensive” cease-and-desist order, calling out the bank for its “noncompliance” with elements of previously issued orders and OCC requirements.

Jan 8, 2025 · Ever since November’s presidential election cemented Donald Trump’s return to the White House, speculation has been rife that the banking sector would see a downturn in regulation, an uptick in mergers and acquisitions, and a boost in the profile and credibility of cryptocurrencies.If these early days of 2025 seem like a wait-and-see period, there may be something to that.

Jan 8, 2025 · Ally Financial laid off hundreds of its roughly 11,000 employees Tuesday, a spokesperson confirmed Wednesday. Spokesperson Peter Gilchrist said the job cuts, which aren’t specific to any location or line of business, amount to less than 5% of its workforce.

Dec 17, 2024 · Flagstar named Lee Smith, its president of mortgage, as its next CFO, effective Dec. 27, the bank said Friday.. Smith will replace Craig Gifford, the former U.S. Bank executive whom Flagstar brought aboard in April – a month after investors led by former Treasury Secretary Steven Mnuchin infused the troubled bank with $1.05 billion in capital in exchange for several leadership changes.

Oct 28, 2024 · Dive Brief: The Federal Deposit Insurance Corp. has hit three Texas banks owned by Industry Bancshares with consent orders, citing a number of needed corrections, according to the orders released Friday. The regulator flagged shortcomings related to the lenders’ capital position, liquidity, staffing and credit risk management, among other things, and ordered the banks to take a list of ...

Oct 8, 2024 · Truist has notified customers of a security breach involving a third-party service provider, asserting the incident did not affect its network, according to a letter the bank sent in early September that was made public last week.. Financial Business and Consumer Solutions, a third-party debt collector that worked for the Charlotte, North Carolina-based lender, discovered unauthorized access ...

Aug 5, 2024 · Bankrupt cryptocurrency lender Genesis Global Capital, along with sister companies Genesis Global Holdco and Genesis Asia Pacific, completed its restructuring and has begun the distribution of around $4 billion to creditors, the firm announced Friday.. Per the initial distribution, creditors will receive a portion of recovered assets as valued on an in-kind basis as follows: Bitcoin creditors ...

Jan 17, 2025 · Dive Insight: Beardall, in a Thursday post on LinkedIn, called it “one of the most difficult days I have had as CEO.” “ I am deeply saddened for the impacted employees and their families, but I am proud to work for a bank strong enough to acknowledge when the world has changed and bold enough to pivot [accordingly],” Beardall wrote in the LinkedIn post.