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.
5 lessons learned from Synapse’s collapse | Banking Dive
2024年10月30日 · 5 lessons learned from Synapse’s collapse Ledgering issues, bank partner and regulatory lapses and gross mismanagement led to a shortfall of up to $95 million between bank-held funds and amounts owed to fintech end users, a law firm found.
Evolve Bank ‘failed in its most basic duty,’ stole from customers ...
2024年9月18日 · A fintech ensnared in the fallout of bankrupt Synapse Financial has sued its bank partner, Evolve Bank & Trust, for allegedly stealing and misappropriating customer funds. Yotta Technologies, a savings gamification app, claimed in court documents filed Sept. 13 that Evolve “utterly failed in its most basic duty to its customers” by misappropriating or misplacing tens of millions of dollars ...
OCC slaps USAA over failure to fix flaws in several areas
2024年12月19日 · OCC slaps USAA over failure to fix flaws in several areas The order blasts the bank’s management, IT, compliance and suspicious activity reporting. It also limits new products or services and restricts USAA’s ability to expand its membership criteria.
FDIC weighs lawsuit against ex-SVB execs | Banking Dive
2024年12月18日 · FDIC weighs lawsuit against ex-SVB execs The regulator is considering taking legal action against six former officers and 11 former directors of Silicon Valley Bank over their role in the bank’s collapse and $23 billion hit to the DIF.
Synapse partner banks hit with lawsuit over fund mismanagement
2024年11月27日 · Synapse’s four partner banks have been sued over alleged mishandling of customer funds in the ongoing fallout since the fintech’s collapse. American Bank, AMG National Trust, Lineage Bank and Evolve Bank & Trust were hit with a lawsuit seeking class action status in a federal court in Colorado Friday. Evolve’s parent company, Evolve Bancorp, was also named in the lawsuit. The plaintiffs ...
Ally CEO indicates card business not a core focus - Banking Dive
2024年12月13日 · Ally CEO indicates card business not a core focus “In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.
Banks are excited about AI. Their customers aren’t so sure.
2024年9月30日 · Banks are excited about AI. Their customers aren’t so sure. To address that, lenders need to be more transparent about their artificial intelligence use and educate customers on the benefits and safeguards involved, analysts said.
FirstSun, HomeStreet terminate merger | Banking Dive
2024年11月20日 · FirstSun, HomeStreet terminate merger The deal’s collapse frees HomeStreet to pursue another suitor or ease its CRE concentration. FirstSun and HomeStreet warned last month the already-revamped proposal would need further tweaks.
Citizens tweaks features, eyeing primacy for customers
2024年12月6日 · With banking battle lines increasingly fought around primacy, Citizens is doubling down on its efforts to offer more value to customers to stoke greater engagement. That’s according to Chris Powell, the Providence, Rhode Island-based lender’s head of deposits and customer engagement. The super-regional last month rolled out improvements to its onboarding experience for customers and added ...