Industry News
Industry News
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The USVI says the enormous sum that propped up Epstein's sex trafficking bolsters key allegations in its suit that JPMorgan knowingly benefited from Epstein's wrongdoing and ignored red flags.
September 1 -
UBS Group outlined major targets for its integration of former rival Credit Suisse, including 3,000 domestic job cuts and more than $10 billion in cost savings, as it posted the biggest ever quarterly profit for a bank on the back of the bargain acquisition in June.
August 31 -
Following reports that the Los Angeles bank was considering strategic options, its deposits fell by $1.7 billion in two days, according to a securities filing. The disclosures shed new light on PacWest's predicament before its merger agreement with Banc of California.
August 30 -
Innovations Financial Credit Union is purchasing First National Bank Northwest Florida, taking the place of Harvesters Credit Union, which terminated its 2022 deal to acquire the bank.
August 30 -
The Canadian bank initially told investors the acquisition would result in more than $350 million in cost savings. But a recent analysis suggests that number could be even higher.
August 29 -
Michigan State University Federal Credit Union, seeking to add $300 million of assets in Illinois, has agreed to purchase McHenry Savings Bank.
August 29 -
Apollo Global Management, Pagaya Technologies and Sixth Street are said to be working on final offers for Goldman Sachs Group's consumer-lending unit.
August 29 -
UBS is trying to retain many of Credit Suisse's most senior wealth bankers, but the decision to bring Babak Dastmaltschi on board, who catered to tycoons emerging from the collapse of the Soviet Union, may raise eyebrows.
August 29 -
The Alabama-based credit union has agreed to purchase the $215 million-asset OneSouth Bank in Macon; it also purchased Georgia banks in 2014 and 2015.
August 28 -
The planned sale marks another step for the Wall Street giant away from previous plans to work more with retail customers.
August 28 -
The top three industries have $19.8 billion in combined fintech financings through June 2023.
August 28 -
The company is paying $75 million in penalties and restitution in connection with SEC allegations that its investment advisory arm overcharged customers it inherited in its Wachovia acquisition in 2008. The settlement is said to show the importance of conducting extensive compliance checks in a rapidly consolidating industry.
August 25 -
Burke & Herbert Financial Corp. and Summit Financial Group announced a transaction that they described as a merger of equals valued at roughly $371.5 million in stock.
August 25 -
New Peoples Bank announced J.W. Kiser will be its next president and CEO; D.A. Davidson hired Dan Fiandaca to lead its brokered CD underwriting group; Citizens Bank launches Roger, a digital bank for military members; and more in the weekly banking news roundup.
August 25 -
The top three countries have 861 combined fintech financings through June 2023.
August 25 -
The decision by the 2nd U.S. Circuit Court of Appeals in Manhattan came in a securities fraud lawsuit brought by a trustee for note purchasers in a 2014 syndicated loan deal led by JPMorgan Chase.
August 24 -
UBS Group AG is expected to announce soon that it's fully integrating Credit Suisse's domestic bank, ending months of speculation about the future of the business.
August 24 -
The company is ditching standard account packages and will instead adopt "relationship tiers" that are based on customer's deposit and investment accounts.
August 24 -
The four banks agreed to pay $499 million and also cooperate in the litigation against Bank of America Corp., the sole remaining defendant.
August 24 -
A series of deals over the summer suggests growing interest by private equity investors in acquiring community banks. Five such deals have been announced this summer alone.
August 22






















