Santander’s Botin says always looking at bolt-on buys after Metro report
Banco Santander Chairman Ana Botin said she’s is always looking at potential smaller acquisitions, responding to a report that the Spanish lender had been approached about a possible bid for Metro Bank Holdings.
FTX bribes, dating diary, false records: Ellison testimony
Caroline Ellison outlined for a New York jury how she worked with Sam Bankman-Fried to deceive lenders and customers to build his multibillion dollar cryptocurrency empire — and their failed attempts to prevent a spectacular collapse.
How Visa is targeting friction in corporate cash flow
In search of new revenue streams, the card network has researched companies’ working-capital and cash-flow headaches to see where it could play a bigger role.
Ex-Barclays CEO Staley ‘recklessly’ misled watchdog, probe finds
Former Barclays boss Jes Staley has been banned from the U.K. financial services industry after “recklessly” misleading regulators and the bank about his relationship with the late financier and sex offender Jeffrey Epstein.
Fiserv, Plaid partner on consumer bank-data sharing
Customers of community banks and credit unions using Fiserv’s core banking platform will soon directly control third-party access to their account information among Plaid’s network of 8,000 third-party applications and services.
Layoffs at PNC cut across business lines and geography
The job cuts came after CEO Bill Demchak said in July that he was “taking a hard look” at opportunities to reduce expenses. PNC joins a growing list of banks that have laid off workers amid declining growth prospects.
The surprise exit of Ally’s CEO comes as the auto market gets tougher
Jeffrey Brown, who’s been Ally Financial’s top executive for nearly nine years, plans to leave the company by early next year. His exit comes as deteriorating credit quality and rising interest rates are biting into Ally’s profits.
Citigroup’s Dugan says U.S. capital plan threatens bank lending
The proposals appear “somewhat bizarrely” to be a response to the problems at U.S. regional banks in March, according to Citigroup Chairman John C. Dugan.
Danish fintech fires CEO facing sexual assault complaint
Tradeshift Holdings has dismissed its co-founder Christian Lanng due to “serious allegations of sexual assault and harassment” and “gross misconduct on multiple grounds,” the company says. Lanng denies the allegations.
Private credit is eyeing bank capital risk trades, Magnetar’s Snyderman says
With US banks facing a fresh wave of capital restrictions, some are searching for ways to trade out of risky loan portfolios and free up their balance sheets. The solution may very well lie with capital-rich lenders in the booming $1.5 trillion private credit market.