Truist lures new chief legal officer from Ally Financial
Scott Stengel, who has been Ally’s general counsel since 2016, will succeed Ellen Fitzsimmons, who is retiring after four years as head of legal affairs at Truist.
FICO creating credit scores for Ukrainian refugees
Banks in Poland will be the first to start receiving and using the scores, which will allow Ukrainians fleeing their country to obtain credit in their new Polish homes.
CaixaBank forms gen AI team, Ripple rebrands cross-border payments
CaixaBank assembled a team of more than 100 people focused on generative artificial intelligence products, Ripple changed the name of RippleNet to Ripple Payments, and more.
Orrstown Financial buying Pennsylvania rival Codorus for $207 million
The acquisition would deepen Orrstown’s presence in its home state and Maryland. In recent years, Codorus Valley Bancorp had faced pressure from an activist investor to consider selling.
Citigroup offers partial early bonuses to encourage staff departures
The New York-based lender has already cut more than 300 senior management roles as part of a revamp. Those are part of a wider staff cull that is expected to continue into 2024.
Three reasons why investors — and the financial system — should watch crypto in 2024
Several factors are combining that make it more likely bitcoin and other cryptocurrencies will become mainstream assets in 2024.
U.K. proposes capping some Visa, Mastercard fees
Regulators in the U.K. are weighing a cap on some of the fees that Visa and Mastercard charge local merchants for each card transaction, seeking to rein in charges that have risen fivefold since Brexit.
JPMorgan shuttering robo-advisor citing low profits
Come the second quarter of 2024, JPMorgan Automated Investing will be no more.
Latino market offers a $155 billion opportunity for U.S. banks: Report
If banks reached the same market penetration among U.S. customers of Latin American descent that they have among white Americans, they could tap an additional $155 billion in annual revenue, according to new research from the consulting giant McKinsey.
Major fintech layoffs in 2023
LendingClub, SoFi and Upstart were among those that wielded the ax.