News Topic: Fifth Third Bancorp
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CFPB’s tactics in Fifth Third lawsuit called ‘pretty aggressive’
The month in M&A: Fifth Third's solar play, UBS snags robo advisor
Enthusiasm about commercial lending spreads among bank chiefs
Fifth Third acquiring solar energy lender Dividend Finance
Fifth Third closing dozens of branches to help pay for digital upgrades
Fifth Third buying health care lender Provide
Fifth Third joins list of banks offering low-cost deposit accounts
Fifth Third’s expansion in Southeast paying early dividends
Fifth Third CEO ‘very concerned’ about fintechs
Greg Carmichael said lightly regulated challenger banks pose a long-term threat to traditional banks, echoing comments JPMorgan Chase’s Jamie Dimon made last week. ... Read full article
To lend to doctors, banks get an assist from fintechs
Fifth Third is partnering with Provide and Panacea Financial works with Sonabank in Virginia to meet the specialized needs of medical professionals who own their own practices. ... Read full article
Fifth Third commits $2.8 billion to help lift underserved communities
The Cincinnati bank joins a growing list of banks pledging billions of dollars to fight systemic racism and help close the wealth gap that exists between white and minority households. ... Read full article
Banks could be ripe targets for age-bias lawsuits
A former Fifth Third executive recently accused the company of failing to deliver on a promise to make him president because he’s in his mid-50s. The case offers important lessons in hiring and succession planning as the banking industry cuts costs and ... Read full article
Fifth Third shuffles executive lineup after CFO joins BMO
Fifth Third Bancorp. promoted Chief Risk Officer Jamie Leonard to succeed Tayfun Tuzun, who will become chief financial officer of BMO Financial Group on Jan. 1. Both companies made other executive moves at the same time. ... Read full article
Fifth Third promotes Tim Spence to president. Is he next CEO?
Spence’s promotion to president could signal that the Cincinnati banking company is grooming him as a potential successor to Chairman and CEO Greg Carmichael. ... Read full article
Fifth Third defends decision to release loan-loss reserves
The Cincinnati company, one of just a handful of lenders to reduce its cushion against bad credits in the third quarter, was grilled by analysts who suggested it was being too optimistic about the long-term effects of the pandemic recession. ... Read full article
Court case reveals new details of fake-account allegations at Fifth Third
The bank has contends that the misconduct was widespread, but a whistleblower letter unearthed by the Consumer Financial Protection Bureau points to Chicago as a hotbed of customer abuse. "We are becoming a 'predatory' financial ... Read full article
Fifth Third pushes ahead with expansion in face of cost pressures
CEO Greg Carmichael says the Cincinnati company has cut expenses but will proceed with branch openings in the Southeast and investments in its commercial loan and mortgage origination platforms to lay the groundwork for post-pandemic growth. ... Read full article
Fintechs team up with banks to help students mired in debt
Finding loan forgiveness programs and keep-the-change loan paydowns are examples of services startups like Savi, Summer and FutureFuel.io are offering banks to help borrowers manage their monthly payments. ... Read full article
Fifth Third, Truist among banks closing early to observe 'Juneteenth'
As protesters continue to take to the streets to express outrage over racial injustice and inequality, banks — for the first time — will commemorate the date that marks the end of slavery in the U.S. ... Read full article