The Boston-based bank said the Office of the Comptroller of the Currency gave it the highest grade possible on its most recent Community Reinvestment Act examination. Santander had received a “needs to improve” grade in 2017 and had a “satisfactory” rating in 2018.
With its first branch outside the Northeast U.S., the unit of Spanish banking giant Banco Santander wants to reach international clients who are familiar with the brand.
Banks' fear of big penalties, the changing tactics of nimble criminals and a greater openness among regulators to new approaches are among the factors driving big investments.
Ezequiel Szafir, CEO of Banco Santander's digital-only Openbank, sees banks of the future looking increasingly like Amazon.com — with online storefronts for financial products.
Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering.
