Daily Edition

The company created through the combination of BB&T and SunTrust Banks expects to hit two final milestones in the first quarter of 2022. The bank is now turning its focus to performance, CEO Bill Rogers said.

Shane Berger, who has been at the helm of Beehive for nearly 37 years, will hand over his responsibilities to Craig Gummow on Jan. 4.

The lender will take a $21.6 million charge related to damage a customer sustained from Hurricane Ida, leading analysts to predict a major drag on earnings. So far, there is little indication that other banks have been similarly affected.

Combined, the two would have over $11 billion of assets and nearly 80 branches serving members of the armed forces across five states and in Italy.

There was $590 million in suspicious activity related to ransomware in the first six months of 2021, exceeding the entire amount in 2020, according to a report by the Financial Crimes Enforcement Network.

Bill Demchak, whose company plans to allow crypto trading through a mobile app, nonetheless expressed concern that digital currencies pegged to the dollar could affect central banks’ ability to control the money supply.

Tether will pay $41 million to settle allegations it lied in claiming its digital tokens were fully backed by fiat currencies, putting a major compliance headache behind the world’s biggest issuer of stablecoins even as regulatory scrutiny intensifies.

A central bank digital currency based on the U.S. dollar could pull deposits from banks, and it might crowd out innovative private-sector products.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

During a House hearing, Democrats advocated for measures that ensure businesses keep accepting paper money, while Republicans argued in favor of chartering more fintechs and promoted stablecoins to extend access to the underbanked.

The new ATMs deter card-skimming fraud through encryption, individually paired card readers and a design that requires users to dip their cards at an angle.

Goldman Sachs Group posted a surprise jump in its trading business, rounding out a stellar quarter for Wall Street’s biggest banks.

Daily edition for October 15, 2021

Charlie Scharf faced tough questions Thursday in the wake of a recent $250 million fine. Analysts did not get the clarity they sought on how much longer the bank will be constrained by a three-year-old consent order with the Fed.

The cryptocurrency exchange, which has been embroiled in a dispute with the Securities and Exchange Commission, says the federal government should create a stand-alone body to supervise the marketplace for digital assets.