All articles by Pradeep Bairaboina
Pradeep Bairaboina
APRA increases capital add-on for ANZ, mandates risk culture overhaul
APRA has expressed ongoing concerns about ANZ’s handling of non-financial risks, particularly in operational risk and compliance management, as well as a reactive risk culture
TowneBank and Old Point Financial Corporation announce agreement to merge
The proposed transaction will enhance TowneBank’s position in the Hampton Roads MSA with the addition of a high-quality core deposit franchise
First Commonwealth Financial receives regulatory approval for CenterGroup Financial merger
The completion of the merger remains subject to the approval of CGFI shareholders and is expected to occur in the second quarter of 2025
OakNorth to acquire Community Unity Bank in stock-for-stock deal
The acquisition of Community Unity Bank will allow OakNorth to enhance its business lending capabilities across the US, including in Michigan
Mastercard Open Banking powers account aggregation for Virgin Money credit card customers
With this smart personal finance solution, powered by Mastercard’s open banking technology, Virgin Money customers will be able to manage their finances quickly, easily and conveniently in one single place
Neonomics buys UK-based open banking platform Ordo
Neonomics stated that the acquisition aligns with its strategic objective to accelerate growth and expand its service offerings in the UK and internationally
Ally Financial agrees to divest credit card business to CardWorks
Under the agreement, CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, will acquire Ally’s credit card business, including a portfolio of $2.3bn in credit card receivables
Citigroup Q3 2024 net income decreases by 9% to $3.2bn
Citigroup has reported total revenues of $20.3bn for the third quarter of 2024, a 1% increase compared to $20.3bn for the same quarter of 2023
General Motors announces long-term credit card partnership with Barclays
Under the partnership, cardholders will be able to earn and redeem GM rewards on new Chevrolet, Cadillac, Buick, and GMC vehicles, including GM’s electric vehicle lineup
Mastercard to buy threat intelligence firm Recorded Future for $2.65bn
By integrating AI and other advanced technologies, Recorded Future enhances Mastercard’s capabilities in identity protection, fraud prevention, real-time decision-making, and cybersecurity