© 2025 Arizent. All rights reserved.

U.S. Bank accelerates branch closings as more customers go digital

usb-012221-topten.png
Hundreds of branches temporarily shuttered during the pandemic are now permanently closed.

(Full story here.)

Capital One fined $290M for 'willful' anti-money-laundering failures

capone-012221-topten.jpeg
The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.

(Full story here.)

Incoming Citi CEO Fraser signals major changes ahead

citi-012221-topten.jpeg
Weeks away from succeeding Michael Corbat, Jane Fraser said she'd consider streamlining some units or divesting others as part of her effort to kick-start return on equity.

(Full story here.)

Wells Fargo pledges to cut $8 billion in overhead. Is it enough?

wells-012221-topten.png
CEO Charlie Scharf's long-awaited expense-reduction plan got a chilly reception from investors.

(Full story here.)

Katie Porter off House banking panel: Report

porter-012221-topten.jpeg
The California Democrat known for sharp questioning of executives was turned down for a waiver to serve on the Financial Services Committee by Speaker Nancy Pelosi, D-Calif., The Hill reported Thursday.

(Full story here.)

Truist spending $1.8 billion on tech, customer service upgrades

truist-012221-topten.jpeg
The investments, part of a post-merger effort to wring out more profits, include new commercial and mortgage lending platforms.

(Full story here.)

Citizens open to bank acquisitions, CEO says

vansaun-012221-topten.jpeg
Citizens open to bank acquisitions, CEO says
Providence, R.I.-based Citizens Financial has largely focused on nonbank deals in recent years, but CEO Bruce Van Saun said the race for scale in the industry is prompting more banks — including his own — to consider mergers.

(Full story here.)

Biden team lays groundwork to reverse Trump-era banking policies

biden-012221-topten.jpeg
The new administration is wasting no time assembling a team of regulatory appointees and urging agencies to pause pending rules.

(Full story here.)

Morgan Stanley's transformation chief pushes cloud tech, diversity

zarmi-012221-topten.jpeg
Sigal Zarmi, who took on broader duties this fall, is modernizing the company's technological infrastructure and using reverse mentoring to combat bias in the workplace.

(Full story here.)

Turning LendingClub into a full-spectrum bank

sanborn-012221-topten.jpeg
The company, poised to complete its purchase of Radius Bank, will enjoy new cross-selling opportunities, gain additional sources of fee income and capital as well as benefit from greater regulatory clarity, CEO Scott Sanborn says.

(Full story here.)
MORE FROM AMERICAN BANKER