Banking News | Miami Herald

Banking

Are Muslim-owned accounts being singled out by big banks ?

Despite outcry several years ago, U.S. banks are back in the spotlight as more Muslim customers say they’ve had accounts frozen and/or closed with no explanation given. Is it discrimination or bank prudence?

National

Bank of America customer: “Why do they care if I’m a citizen?”

Josh Collins and his wife Jessica Salazar Collins were notified by Bank of America that Josh, who was born in Wichita, had to prove his citizenship. They thought it was a scam until the bank cut off access to their assets.

Politics

Parkland parent says Wells Fargo’s conduct on guns and marijuana is dishonest

Parkland Parent Fred Guttenberg wants people to close their Wells Fargo bank accounts after months of back-and-forth with CEO Tim Sloan led to nothing and the banking giant complained about critical coverage on its ties to the gun industry.

On Friday, Dec. 1, 2017, City National Bank announced it was purchasing TotalBank for $528 million from Banco Santander of Spain. The deal received regulatory approval Monday. The merger of the two Miami-based banks now makes City National the third-largest bank based in the state of Florida.

Latest News

Miami's TotalBank gets approval for sale to Miami's City National Bank

City National Bank of Florida has purchased TotalBank for about half a billion dollars. Both are based in Miami. Layoffs are likely.

AutoNation’s chairman, CEO and president, Mike J. Jackson, will chair the Federal Reserve Bank of Atlanta’s board of directors, the bank announced Wednesday. The appointment marks the first time an executive from the automotive industry is chosen as chair.

Banking

This local will be the first auto exec to chair Atlanta’s Federal Reserve Bank

AutoNation’s chairman, CEO and president, Mike J. Jackson, will chair the Federal Reserve Bank of Atlanta’s board of directors, the bank announced Wednesday. The appointment marks the first time an executive from the automotive industry is chosen as chair.

Banking

A major Miami bank acquisition will form the third largest bank in Florida

On Friday, City National Bank announced it was purchasing TotalBank for $528 million from Banco Santander of Spain. The acquisition will make City National the third-largest bank based in the state of Florida.

Alan Levan, chairman and CEO of BBX, watches as Rosemary Ullrich dips apples in carmel at Hoffman's Chocolates on East Las Olas Blvd, June 21, 2017. Hoffman’s is one of the companies in BBX’s portfolio.

Business

How chocolate and pizza helped a bank’s once-parent company rebound after the 2008 crash

With legal challenges behind him, Alan Levan, one of Fort Lauderdale’s highest-profile businessmen, returns to success at his fast-growing public company, BBX.

Sam Gentry (left) led charitable efforts everywhere he worked. He’s seen here in 2005 as executive director of Miami Dade College Foundation displaying a donation from Heineken.

Local Obituaries

Executive charmed everyone from welders to Jay Leno for his causes

Philanthropist Sam Gentry, who died Saturday at 74, led the American Welding Society’s Foundation, banks and the Miami Dade College Foundation.

Customers use a Wells Fargo ATM at one of their bank branches in Miami, Florida. A class-action case in Miami federal court against Wells Fargo asserts the bank violated consumer protection laws in how it handled debit fees.

Business

Hit by Wells Fargo overdraft fees? Your right to sue may be taken away

Wells Fargo refuses to settle class-action suit for triggering overdraft fees by reordering account charges.

A Bank of America branch stands in lower Manhattan on July 18, 2017 in New York City. Bank of America customers were shut out from their accounts for several hours Wednesday in an apparent system outage.

Banking

Customers shut out of accounts for hours during Bank of America system outage

Bank of America customers were shut out from their accounts for several hours Wednesday in a system outage.

Banking

Feds lift consent order against Gibraltar Bank

After being placed under a federal consent order in 2014 for their anti-money laundering reporting processes, Coral Gables-based Gibraltar Private Bank and Trust announced Wednesday that the order has been lifted.

Dr. Aida Levitan has been named chairman of the board for U.S. Century Bank, effective May 1.

Business

Aida Levitan named chairman of the board at U.S. Century Bank

The respected businesswoman and philanthropist replaces Alex Acosta, who became U.S. labor secretary on April 27.

Brickell Bank, headquartered in Miami’s Brickell financial district, was formerly known as Espírito Santo Bank.

Banking

Sale of Brickell Bank falls through after wealthy Venezuelan family abandons bid

Venezuela’s Benacerraf family withdrew an application to buy Brickell Bank, citing federal regulatory delays in approving the deal.

Jose Valdes-Fauli, left, and Shed Boren hosted a South Florida reception at their home in 2013 for Judy Shepard, mother of Matthew Shepard, the gay University of Wyoming student beaten, tortured and left to die on a fence in 1998.

LGBTQ South Florida

LGBTQ elders group to honor South Florida couple for their longtime activism

Shed Boren and Jose Valdes-Fauli, a longtime South Florida couple well-known for their philanthropy and activism in both the mainstream and LGBTQ communities, will be honored Feb. 11 at the Biltmore Hotel in Coral Gables by SAGE, a national organization that provides “services and advocacy for gay, lesbian, bisexual and transgender elders.”

Banking

Miami’s U.S. Century Bank reports first year-end profit since 2008

It’s a sign the Doral-based bank is returning to health after years of struggle.

Banking

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