The five-year pledge, tied to the company's pending acquisition of CIT Group, earmarks nearly $6 billion for small-business lending and $3.2 billion for affordable housing.
CIT Group over a year's time brushed off several offers from First Citizens BancShares, entertained rival bids and kept negotiating on price and board representation before striking a deal, according to a new regulatory filing.
The family-owned bank from the South and the New York commercial lender each would fill a clear need for the other. First Citizens would gain business lending expertise and an online deposit-gathering platform, and CIT would get the cheap deposits it coveted.
Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier.
As you'll see from this list, regional banks are doing a better job bolstering their reputations than the big banks are, according to the 2017 American Banker/Reputation Institute Survey of Bank Reputations.
