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CEO Brian Moynihan plans to keep directing some of the bank's excess capital into new market expansions, he said Wednesday. "Organic growth is the reality," given the bank's already dominant U.S. market share, he said.
July 16 -
Thirty-eight TD Bank locations and 24 Flagstar branches are set to shut down. Both banks are coming out of tumultuous periods.
March 14 -
The North Carolina-based company said it expects to close about 4% of its branch network, or roughly 80 offices, by the end of the first quarter. The closures come amid Truist's $750 million cost-cutting initiative.
January 3 -
Across the industry, the pace of branch shutdowns slowed this year. Still, large financial institutions continued to trim their physical footprints, with two super-regional banks taking the most aggressive actions.
December 15 -
The nation's largest bank, which acquired the remains of San Francisco-based First Republic following its failure this spring, has completed its plans to close 21 offices this year. But the consolidation effort is likely to continue.
September 22 -
Following New York Community Bancorp's acquisition of Flagstar, the company is ditching the regional bank brands that it long used. CEO Thomas Cangemi calls Flagstar a "neutral" but "patriotic" name that underscores the firm's nationwide expansion strategy.
September 13 -
Michigan State University Federal Credit Union will open five branches in the Windy City to serve the more than 10,000 members and potential members living there. This marks the first time that the institution has expanded beyond its home state.
July 21 -
Bank of America is also planning to expand into Madison, Wisconsin; Boise, Idaho; and Birmingham, Alabama, a company executive said. The goal is to find growth opportunities that don't require operating a large number of branches, the executive indicated.
June 13 -
A $28 billion agreement with the National Community Reinvestment Coalition could help win regulatory approval for the acquisition of Michigan-based Flagstar Bancorp. The deal was originally expected to close last year.
January 24 -
Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.
December 30 -
Bank and credit union groups are pushing to include the industry’s front-line workers in the next priority group, but even as a recommendation is coming soon from a CDC advisory panel, the decision ultimately will be made state by state.
December 18 -
When it comes to branch cleanliness and mask-wearing, the San Francisco bank is more diligent than its rivals in helping to reduce the spread of coronavirus, according to a new study.
September 4 -
The Minneapolis company said 75% transactions have been handled online since the pandemic hit.
July 15 -
Nationwide lockdowns forced banks to close brick and mortar outlets and rely heavily on drive up windows, mobile and online access. BBVA has proven that even in the middle of crisis and chaos, retail still fits into the banks overall strategy.
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The outbreak has completely upended whatever expectations the industry had heading into 2020. Here's key areas that have been shaped by the pandemic, some potentially forever.
June 24 -
Will the new commitment, which is 5% over what the banks have reinvested recently on their own, assuage advocacy groups' concerns about the merger?
July 22 -
The moves are part of a plan CEO Rajinder Singh discussed in a conversation with American Banker.
May 17 -
The bank says it has restored access, but it hasn’t explained how a fire-suppression system at one facility could cause a nationwide outage across all of its channels, or how its system as a whole could have been left so vulnerable to the incident.
February 8 -
The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020.
September 20 -
The financial services industry and community reinvestment advocates both praised the Treasury Department’s recommendations for reforming Community Reinvestment Act enforcement.
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