Bank of America customer data exposed in IT provider breach
Feb 13, 2024 · A cybersecurity event at IMS, a third-party provider for deferred compensation plans, exposed personal information of more than 57,000 Bank of America customers in November 2023. The bank said it was unlikely to determine what data was accessed and notified the affected customers.
Banking News and Analysis | Banking Dive
Banking Dive covers the latest news and trends in the banking industry, from mergers and acquisitions to fintech innovations and regulatory updates.
Busey, CrossFirst to merge in $916.8M deal - Banking Dive
Aug 27, 2024 · Busey Bank, based in Illinois, and CrossFirst Bank, based in Kansas, will create a $20 billion bank with a 10-state footprint. The deal, valued at $916.8 million, will give Busey access to new markets and CrossFirst a larger platform.
Texas credit union discovers year-old data breach - Banking Dive
Aug 29, 2024 · Texas Dow Employees Credit Union (TDECU) was one of the victims of last year's MoveIt cybersecurity breach, but only discovered it in July 2024. The incident involved personal information of 500,474 people and is not expected to impact TDECU's acquisition of …
Truist names COO, hires away Wells Fargo exec | Banking Dive
Nov 15, 2023 · Kristin Lesher, former head of middle market banking at Wells Fargo, will join Truist as chief wholesale banking officer in February. She will oversee corporate and investment banking, commercial banking, commercial real estate and wealth management businesses at …
TD hit with asset cap, $3B in penalties over AML woes
Oct 10, 2024 · The bank admitted to failing to monitor and prevent money laundering through its U.S. retail banking division, allowing millions of dollars tied to fentanyl and other crimes to flow through its accounts. The OCC imposed a $434 billion asset cap on TD's U.S. retail unit and fined it $123.5 million, while the DOJ and FinCEN imposed …
Truist CEO on cost cuts: We needed ‘a shock to the system’
May 31, 2024 · Truist CEO Bill Rogers discusses the bank's expense reduction effort, which aims to save $750 million over 12 to 18 months. He also talks about the bank's growth opportunities, branch network and insurance and asset management sales.
Huntington wants to open 55 branches in Carolinas over 5 years
Sep 9, 2024 · Huntington Bank plans to open 55 branches and add 350 employees in North and South Carolina over the next five years. The bank aims to offer full relationship banking services, including commercial, consumer and wealth management, in the Sun Belt states.
Philly-area credit union to pay $6.5M in DOJ redlining settlement
Oct 11, 2024 · The credit union will pay $6.52 million and provide mortgage loan subsidies to resolve claims that it discriminated against majority-Black and Hispanic neighborhoods in Philadelphia and nearby counties. The settlement is the first with a credit union since the DOJ launched its anti-discrimination initiative in 2021.
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.