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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Two months after the mysterious failure of the Heartland Tri-State Bank in Elkhart, Kansas, a news article sheds light on its downfall. CEO Shan Hanes was involved in a cryptocurrency hoax involving a $12 million wire payment, according to the Bloomberg Businessweek report.
September 28 -
Since her promotion to chief executive officer of $2.4 trillion-asset Citigroup in March 2021, Fraser has taken several decisive steps to simplify and modernize the sprawling megabank.
September 27 -
The $75 million deal between the megabank and the U.S. Virgin Islands includes various commitments, such as terminating customers' accounts if there is credible information that the accounts are involved in human trafficking.
September 26 -
The nation's largest bank, which acquired the remains of San Francisco-based First Republic following its failure this spring, has completed its plans to close 21 offices this year. But the consolidation effort is likely to continue.
September 22 -
The banking industry, which has a long history of sponsoring sporting events, is pouring more money into the live-music industry, according to a new report. Music-related events and properties make up 39% of the sector's sponsorship portfolio, up from 25% two years ago.
September 20 -
Carrie Tolstedt, scheduled to be sentenced Friday for her role in the company's phony-accounts scandal, has already paid for her crime and should receive three years probation, her attorneys argue in a sentencing memo. Prosecutors have recommended a year in prison.
September 14 -
Fraser has a plan to reduce the number of management layers at Citi, shrink its workforce, speed up decision-making and give herself more control of the bank's five core businesses. "It's going to make some of our people very uncomfortable," she said.
September 13 -
The North Carolina bank, which has been facing pressure to curb spending, rolled out a plan that includes job cuts, the consolidation of businesses and lower technology spending. Analysts wonder whether it will soothe investor frustration over Truist's sagging stock price.
September 11 -
Some analysts and investors want the North Carolina bank to make big changes to meet financial targets, which they say aren't being met more than four years after the BB&T-SunTrust merger. The critics will be closely watching a presentation by top Truist executives on Monday.
September 8 -
The Department of Justice is recommending a sentence of 12 months behind bars for Carrie Tolstedt, a former Wells executive who has pleaded guilty to obstructing a bank examination. That's harsher than the recommendation of the U.S. Probation Office.
September 5
