Private equity group Blackstone is reportedly the leading bidder for Signature Bank’s commercial property loans. Sources tell Bloomberg News that Blackstone is the frontrunner to gain possession of an approximately $17 billion loan portfolio from the failed bank, per a report Sunday (Nov. 19). The Federal Deposit Insurance Corp. (FDIC) has been trying...
Santander has introduced a checking account designed to help customers avoid overdrafts. The bank’s Essential Checking account, announced Thursday (Nov. 16), lets consumers spend what they have without the risk of overdrafting or being charged associates fees. Santander said in a news release that the account does...
America’s banking giants are reportedly on the hook for replenishing the government deposit insurance fund. The Federal Deposit Insurance Corp. (FDIC) is going to approve a proposal Thursday (Nov. 16) that will require the country’s biggest banks to refill the fund, which was used to...
Citigroup has reportedly begun cutting jobs as part of its CEO’s companywide overhaul. Workers at the banking giant were expected to be informed of the layoffs Wednesday (Nov. 15), with new cuts announced each day through next week CNBC reported, citing sources with knowledge of the...
Banks that use payment app Zelle have reportedly started refunding customers victimized in imposter scams. According to a Monday (Nov. 13) report by Reuters, Zelle operator Early Warning Services (EWS) says the 2,100 firms on Zelle began in late June reimbursing customers tricked into sending money to crooks claiming to represent...
America’s banks are in a steadier place than they were in 2008. But according to a recent Federal Reserve report, that doesn’t mean they’re completely healthy. Writing on the Liberty Street Economics blog last week, the Federal Reserve Bank of New York noted that this year’s banking crisis...
Santander, Spain’s largest bank, is set to expand its corporate banking presence in the United States. Speaking Thursday (Nov. 9) at the Reuters NEXT conference in New York, Banco Santander Executive Chair Ana Botin said the bank’s strategy will focus on renewable finance, auto lending and wealth...
European banks are investing more in fee-generating operations while waiting for interest rates to fall. The European Central Bank is slowing the pace of interest rate hikes, leading to greater competition for deposits and forcing lenders to increase what they pay to entice savers, Bloomberg...
BMO Financial Group has announced the launch of its Real Financial Progress Hub, a digital platform that provides customers with access to personal finance advice, tools and resources to help them achieve their financial goals. The hub lets customers to explore financial goals such as...
