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Deutsche Bank reversed course and is now joining Wall Street banks Goldman Sachs Group and JPMorgan Chase in pulling back from business in Russia following the country’s invasion of Ukraine.

M&T-People's closing date set, U.S. Bank's WNBA deal and more in banking news this week.

Several large banks are being investigated for employees’ use of unmonitored messaging software, despite prohibitions that have been in place for years.

The crypto ambitions of large technology companies are drawing concern from the Consumer Financial Protection Bureau.

The bill, part of the omnibus spending package, would force banks and other critical infrastructure providers to tell the government right away when they’ve been breached.

CEO Nitin Mhatre, who joined the Massachusetts bank in 2021, said that any M&A deal is at least a year away. For now, the bank is working with fintechs as a way to bolster its balance sheet and deliver exceptional customer experiences.

Best known as a maker of ATMs and point-of-sale devices, Diebold Nixdorf is launching a new cloud platform to support merchants and their customers as transactions become more hardware-agnostic.

A supervisory letter detailing their failings in assessing exposure to a collapsed hedge fund suggests that the Federal Reserve believes banks are falling short in basic risk management.

Revolut’s Chief Revenue Officer Alan Chang is leaving the U.K. financial technology startup for a new cryptocurrency venture and is seeking to raise roughly $100 million in financing.

Thousands of staff, billions of dollars and three decades of complicated relationships. Some of the world’s largest banks are starting to pull back from Russia, but it’s not going to be easy.

Citigroup’s Greg Girasole and Alex Kriete, who were tapped by the bank last year to oversee a new digital-assets group inside its wealth management division, are departing. 

Emma Hayes, who is also the chief diversity officer for the African American Credit Union Coalition will take the lead on programs to further diversity, equity and inclusion for the Raleigh, North Carolina, credit union.

Daily edition for March 11, 2022

The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules make it impossible to confirm any details.

The deal for Horizon Community Bank in Arizona is the fifth instance of a credit union agreeing to buy a bank this year, and the second such deal for the Phoenix credit union, which bought Pinnacle Bank in 2019.

Prosecutors say Rafael Martinez and his company, MBE Capital, used false information to reap more than $71 million in fees from loans made under the Paycheck Protection Program.

The company has filed a lawsuit against the banking commissioner for threatening to end its partnership with a bank that enables consumer loans to exceed the state’s 36% interest rate cap. OppFi’s argument: Its bank partner is the true lender.

Spike Henderson was most recently a regional president at Equity Bank in Kansas.

JPMorgan Chase is actively unwinding its Russia business, joining Goldman Sachs Group in pulling back in response to the country’s invasion of Ukraine last month.

With the Russia-Ukraine conflict intensifying and prices soaring, the bank could be among many to report similar issues in the first quarter.