Allissa Kline is a Buffalo, New York-based reporter who writes about national and regional banks and commercial and retail banking trends. She joined American Banker in 2020 and previously worked for more than a decade at Buffalo Business First, where she covered banking and finance, insurance and accounting. Kline started her journalism career at the Observer-Dispatch in Utica, New York. She graduated from Colgate University and the S.I. Newhouse School of Public Communications at Syracuse University.
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A class action lawsuit against the bank's top executives and its auditor in connection with its 2023 failure was dismissed by a federal judge, who said the court did not have the authority to hear the case.
June 11 -
The New York City-based specialty finance company must pay $3 million as part of a settlement with the SEC for allegedly inflating its stock price. Its president must pay a separate $1 million fine.
June 9 -
The Toronto-based bank said that Aron Levine will become group head and president of BMO U.S. It also announced the upcoming retirement of Ernie Johannson, head of North American personal and business banking.
June 5 -
The 5-year-old experiment of tying executive compensation to achieving diversity goals appears to be ending. The abrupt shift comes amid the Trump administration's crackdown on DEI.
June 4 -
The megabank is also updating certain policies to bar discrimination based on political affiliation. "We appreciate the concerns that are being raised regarding 'fair access' to banking services," a Citigroup executive wrote in an internal memo.
June 3 -
The Department of Justice is seeking to terminate a Biden-era lending discrimination settlement with Lakeland Bank. Last month, the DOJ took similar action in a case involving Mississippi-based Trustmark National Bank.
June 2 -
The megabank, which has spent years trying to improve its regulatory compliance, now has just one consent order remaining. And observers expect that Wells' historic asset cap will be lifted soon.
May 29 -
BMO Financial Group has sold a U.S. credit card portfolio and exited a franchise loan portfolio as part of an effort to achieve a return on equity of at least 12% in its U.S. business.
May 28 -
Five years after the pandemic forced banks to switch to online annual meetings, shareholders are growing frustrated by the lack of in-person options. Some wonder if they'll ever again be in the same room as boards and management teams.
May 21 -
Months after OceanFirst Financial settled federal redlining allegations, it received the highest possible Community Reinvestment Act rating from the Office of the Comptroller of the Currency. CEO Christopher Maher said the bank made a "significant effort" to introduce its lending products to markets it had recently entered via acquisition.
May 20 -
Shareholder support for KeyCorp's executive compensation packages fell to 63% from 89% last year. Proxy advisory firms had recommended a "no" vote after the Cleveland-based bank made off-cycle awards to top executives.
May 15 -
New York Attorney General Letitia James is accusing Capital One of deliberately deceiving customers and obscuring higher interest rates. The lawsuit comes less than three months after the CFPB dropped a similar case against the bank.
May 14 -
The Dallas-based company's broker-dealer arm, Texas Capital Securities, has also made several recent hires as it continues to expand its capabilities.
May 8 -
While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. "Unequivocally," said U.S. CEO Christiana Riley, "the opportunity … is so clear."
May 7 -
The banking arm of Spanish giant Banco Santander plans to close about 4.5% of its branch network in the United States, according to regulatory filings.
May 6 -
Truist, Texas Capital and Citizens Financial are among the banks that will be forced to address shareholder dissatisfaction over executive pay.
May 2 -
Citizens Financial Group's promotion of Brendan Coughlin to company president comes at the same time as CFO John Woods prepares to leave for State Street. Both executives have been viewed as potential successors to CEO Bruce Van Saun.
April 30 -
The potential for a global trade war has largely undone the optimism that the industry exhibited at the beginning of the year. Here's a look at three ways that tariffs could negatively impact banks.
April 30 -
The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.
April 25 -
Registration is now open for American Banker's annual Best Banks to Work For awards.
April 25
