U.S. Bank accelerates branch closings as more customers go digital

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Hundreds of branches temporarily shuttered during the pandemic are now permanently closed.

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Capital One fined $290M for 'willful' anti-money-laundering failures

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The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.

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Incoming Citi CEO Fraser signals major changes ahead

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Weeks away from succeeding Michael Corbat, Jane Fraser said she'd consider streamlining some units or divesting others as part of her effort to kick-start return on equity.

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Wells Fargo pledges to cut $8 billion in overhead. Is it enough?

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CEO Charlie Scharf's long-awaited expense-reduction plan got a chilly reception from investors.

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Katie Porter off House banking panel: Report

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The California Democrat known for sharp questioning of executives was turned down for a waiver to serve on the Financial Services Committee by Speaker Nancy Pelosi, D-Calif., The Hill reported Thursday.

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Truist spending $1.8 billion on tech, customer service upgrades

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The investments, part of a post-merger effort to wring out more profits, include new commercial and mortgage lending platforms.

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Citizens open to bank acquisitions, CEO says

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Citizens open to bank acquisitions, CEO says
Providence, R.I.-based Citizens Financial has largely focused on nonbank deals in recent years, but CEO Bruce Van Saun said the race for scale in the industry is prompting more banks — including his own — to consider mergers.

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Biden team lays groundwork to reverse Trump-era banking policies

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The new administration is wasting no time assembling a team of regulatory appointees and urging agencies to pause pending rules.

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Morgan Stanley's transformation chief pushes cloud tech, diversity

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Sigal Zarmi, who took on broader duties this fall, is modernizing the company's technological infrastructure and using reverse mentoring to combat bias in the workplace.

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Turning LendingClub into a full-spectrum bank

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The company, poised to complete its purchase of Radius Bank, will enjoy new cross-selling opportunities, gain additional sources of fee income and capital as well as benefit from greater regulatory clarity, CEO Scott Sanborn says.

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