Banking Dive

1 day ago | bankingdive.com | Caitlin Mullen

Bank of America veteran Aron Levine will become group head and president of BMO U.S., effective July 7, the Canadian bank said Thursday. Levine’s role is a new position at BMO, a bank spokesperson said. Levine left BofA in April, after spending more than three decades in various roles at the bank. Additionally, Ernie (Erminia) Johannson – who has led BMO's North American personal and business banking group since 2020 – intends to retire from BMO in early 2026, the bank said.

2 days ago | bankingdive.com | Dan Ennis

The Senate confirmed Federal Reserve Gov. Michelle Bowman, by a 48-46 vote Wednesday, to serve as the central bank’s vice chair for supervision. Bowman’s bid received no support from Democrats – a change from 2018, when she joined the Fed board with a from the Senate. Once she’s sworn in, the central bank will have a point person on supervision for the first time since Feb. 28, when Michael Barr, who’s still serving as a Fed governor, stepped down from the post.

2 days ago | bankingdive.com | Patrick Cooley

Salons and spas are increasingly offering buy now, pay later payment options to customers, according to an executive of Zenoti, which provides software and payment services to those businesses. BNPL brings in more customers and increases their spending in a business sector where final bills are measured in hundreds of dollars, said Wes Hawthorn, the company's vice president of fintech products.

3 days ago | bankingdive.com | Dan Ennis

Citi has abandoned a 7-year-old policy restricting firearms sales by its retail clients, the bank said in a statement on its website Tuesday. The move could be read as a bow to increasing pressure from conservative circles that have accused big U.S. banks of failing to serve clients whose political leanings fall right of center.

3 days ago | bankingdive.com | Caitlin Mullen

The Federal Reserve has lifted the asset cap that Wells Fargo has operated under since 2018, determining that the lender has met all conditions required for the growth restriction’s removal, according to a news release Tuesday.