Consumer banking

How New York became Wells Fargo’s new center of power

02/26/20

Under CEO Charlie Scharf, the bank that has historically viewed itself as more Main Street than Wall Street is becoming deeply embedded in the nation’s financial capital and its hard-charging culture.

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CIBC cuts jobs, shuffles executives in CEO cost-cutting mission

02/26/20

With its expenses soaring, the Toronto company has taken a $250 million restructuring charge to cover severance from staff reductions.

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Cheat sheet: Inside the $3B Wells Fargo settlement

02/21/20

The ten-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership.

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Wells Fargo pays $3 billion, avoids prosecution for sales abuses

02/21/20

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions.

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Bankers embrace new guidelines for ethical AI

02/21/20

Regions, Citizens, BMO and others are adopting principles IBM unveiled at Davos.

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With E-Trade deal, Morgan Stanley moves deeper into consumer banking

02/20/20

The Wall Street giant will inherit some $56 billion of low-cost deposits that will allow it to offer more traditional banking products to its wealth management clients.

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Home BancShares in Ark. making bigger push into marine lending

02/19/20

The company will nearly double the amount of marine loans on its books after buying a division from People's United.

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HSBC scales back U.S. retail expansion amid another global restructuring

02/18/20

The bank still plans to open branches on the West Coast even as it trims its overall U.S. footprint by 30%.

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KeyCorp promotes Victor Alexander to head of consumer banking

02/18/20

Alexander most recently headed up mortgage lending and before that co-led the integration of Key's acquisition of First Niagara. He replaces Dennis Devine, who recently left the company.

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Former KeyCorp CEO Henry Meyer dies at 70

02/14/20

Meyer was credited with guiding the Cleveland company through the financial crisis and returning it to profitability. He died this week at his home in Florida.

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