Top stories of the year: BB&T-SunTrust, a payday lender in disguise, unprepared for Libor’s exit, and more

December 31, 2019 12:13 PM

Hard sell ahead for BB&T-SunTrust as 'Truist' lands with a thud

Judging by day one on social media, you'd think the new Truist brand was a flop. But marketing and branding experts say the name has a lot going for it. What matters most will be how the two banks advocate for the name.

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A payday lender in disguise? New York investigates the Earnin app

The Earnin app appears designed to look like other early wage access programs, but critics say it's actually a payday lender and New York regulators have taken notice.

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BB&T-SunTrust unveil postmerger name that nods to legacies

Repurposed chart of key stats about combined BB&T, SunTrust

The combined company will be known as Truist, which plays off "trust," a word the banks' original names had in common.

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Libor is going dark in 2021, and some banks aren't ready

An effort to increase awareness of the transition to a new benchmark rate, and nudge banks to start preparing, is expected to intensify in 2019.

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Name game: Rebranding BB&T-SunTrust fraught with risk

The banks have no choice but to pick a new name, marketing experts say, but good luck: The best ones may already be taken, made-up names can sound forced, and any change might nudge more customers to rethink their loyalties.

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Could Ripple's XRP replace correspondent banks? This bank says yes

Despite controversy surrounding Ripple's digital token, one bank is pushing forward to use it in cross-border payments.

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What's Jamie Dimon's salary got to do with income inequality?

Citigroup CEO Michael Corbat, JPMorgan Chase CEO Jamie Dimon

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., right, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 10, 2019. The chief executives of some of the U.S.'s biggest banks should get ready for hostility as they're about to serve as political-theater targets at a House committee hearing, analysts say. Photographer: Andrew Harrer/Bloomberg

Andrew Harrer/Bloomberg

At a recent House hearing with large-bank CEOs, lawmakers' focus on the compensation gap between the C-suite and lower-level employees echoed a broader discussion about pay inequity.

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BB&T-SunTrust merger closing could slip into 2020

The companies say they're working hard to complete their deal this year — including spending millions on retention payments and other items — but there's no guarantee how quickly regulators will make their decisions.

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Postal banking won't deliver for USPS

U.S. Post Office worker, postal banking, mailman, postman

A United States Postal Service (USPS) letter carrier delivers mail in Shelbyville, Kentucky, U.S., on Thursday, Dec. 22, 2016. More than 30 million packages handled by the USPS are estimated to be delivered on December 22, which is still a fraction of the 750 million packages this holiday season, a 12 percent increase over last year. Photographer: Luke Sharrett/Bloomberg

Luke Sharrett/Bloomberg

Proponents of a plan to get the Postal Service more involved in banking say it would restore profitability. Actually it would lose more money.

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First Horizon, Iberiabank in year's second-biggest bank merger

Bryan Jordan, chairman, president and CEO of First Horizon National Corp.

The deal will create a Southeastern regional with $75 billion in assets across 11 states.

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