Industry News
Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.
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The Columbus, Ohio, bank plans to cut the price to consumers who spend more than they have from $36 to $15. In another change designed to help customers who live paycheck to paycheck, it will start offering instant access to check deposits.
March 8 -
The $7.6 billion deal was originally expected to close in the fourth quarter of last year, but the banks had pushed back their deadline until June. Once the merger is complete, the combined bank will have more than $200 billion in assets.
March 4
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Titi Cole will run the megabank’s legacy franchises division, which contains consumer businesses that Citi is looking to sell or wind down in other countries. The exits are part of CEO Jane Fraser’s efforts to reshape the bank.
March 2 -
The Columbus, Ohio, bank has agreed to buy an investment banking and advisory firm that caters to midsize companies to "accelerate" the growth of its capital markets unit.
March 1 -
The Canadian banking giant established a nine-month window to finish its $13.4 billion purchase of First Horizon, which could be challenging given the tighter regulatory scrutiny of bank M&A. After November, the price tag will go up.
February 28 -
Industry groups are adamant that regulators must make it easier for banks to merge in order to compete with nonbanks, while consumer advocates say bank mergers are too easy and hurt the consumer beyond raising the price of credit.
February 28 -
The $13.4 billion agreement would create a top-six bank in the U.S. by assets and give Toronto-Dominion a large presence in Tennessee and a deeper foothold in the region.
February 28 -
The M&A surge promises to improve the services fintechs offer to many banks. But it's also creating a new class of full-service competitors.
February 25 -
The Federal Reserve and the FDIC are weighing changes to their policies for reviewing mergers and acquisitions, and that’s creating a sense of urgency among bankers to cinch deals now.
February 25
