Alan Kline
American Banker
Washington, DC, United States
Contact Alan
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Past articles by Alan:
Umpqua, Columbia merging to create $50 billion-asset West Coast bank
Columbia Banking System would be the surviving holding company and retain its Tacoma, Washington, headquarters and the banking unit would be based in Portland, Oregon, and operate under the Umpqua Bank brand. → Read More
Valley National buying Bank Leumi USA for $1.15 billion
The deal would propel New York-based Valley National into the ranks of the nation's 30 largest banks. → Read More
U.S. Bancorp buying MUFG Union Bank for $8 billion
The cash-and-stock deal would add roughly $58 billion of loans and $90 billion of deposits to U.S. Bancorp’s balance sheet, significantly boosting the company's market share in California. → Read More
Bankers doing good: Uplifting stories from a downbeat year
For better or worse, financial firms are often cast as villains, but in this year marked by pandemic, economic hardship and protests over racial injustice, they have often been a force for good. Here are 11 stories (and one gallery) of how banks, fintechs and others in the industry stepped up in 2020 to address inequality and help employees, customers and communities in need. → Read More
PNC buying BBVA USA for $11.7 billion
The deal would rank among the biggest bank combinations since the financial crisis, creating a coast-to-coast franchise with about $563 billion of assets and branch presence in 29 of the nation’s 30 largest markets. → Read More
Parting words from Beth Mooney: ‘Rebuild trust through your actions’
In an exit interview with American Banker, the former KeyCorp CEO reflected on a trailblazing career, shared her thoughts on leadership and described what it’s like to retire in the middle of a pandemic. → Read More
9 ways financial organizations are aiding battle against coronavirus
Funneling fees from emergency loans to feed the hungry. Supporting psychological counseling for health care heroes and financial advice for the poor. Backing retrofits of customer operations to produce protective gear for front-line medical personnel. Bankers and financial educators have tossed out the traditional playbook to help clients and communities in crisis. → Read More
U.S. charges four Chinese military members in Equifax hack
The four members of China’s People’s Liberation Army are accused of masterminding the breach that affected more than 140 million people. → Read More
Visa planning biggest changes to swipe fees in a decade
Higher rates are looming for transactions on e-commerce sites, while merchants in certain services categories, such as real estate and education, will see fees decline, according to a document Visa sent to banks. → Read More
Discover's shares tumble after warnings on costs, credit quality
The credit card lender has seen problem loans spike since it introduced a feature that lets at-risk customers restructure loans through its online and mobile channels. → Read More
Comerica names new chief credit officer in latest management shake-up
The promotion of Melinda Chausse was one of several leadership changes the Dallas company announced this month. → Read More
New York City moves to ban cashless stores
The city would join San Francisco and Philadelphia among cities that prohibit stores and restaurants from only accepting electronic payments. → Read More
Citigroup CEO says many branch jobs are still safe from machines
Modernizing the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, CEO Michael Corbat said. → Read More
Central banks team up to study case for digital currencies
The body will include the Bank of England, Bank of Canada, the Bank of Japan and the European Central Bank, but not the Federal Reserve or the People's Bank of China. → Read More
BNY Mellon’s shares tumble as revenue growth stalls
Despite the weaker-than-expected results, interim CEO Thomas Gibbons pledged to continue spending heavily on tech upgrades aimed at cutting costs, improving efficiency and developing innovative products. → Read More
Warren says she’d bypass Congress to cancel federal student debt
The proposal announced Tuesday is aimed at attracting younger voters. → Read More
Visa to buy plaid for $5.3 billion in bid to reach startups
The purchase price is double the fintech's valuation in a 2018 funding round. → Read More
HSBC eyes sale of its French retail business
The effort is part of a push by interim Chief Executive Officer Noel Quinn to cut costs at Europe’s largest lender by assets. → Read More
Banks’ record-breaking earnings streak has probably peaked
Estimates for 2020 are for a combined profit drop of $10 billion as global interest rates remain stubbornly low and geopolitical tensions stay high → Read More
UBS is latest to downgrade shares of big banks
Net interest margin pressure, modest loan growth and limited operating leverage could weigh on bank stocks in 2020, UBS analysts said. → Read More