Articles from Fifth Third Bank

Recently Fifth Third Bank (NASDAQ: FITB) unveiled plans to expand its retail branch footprint by opening more than 200 branches over the next four years, primarily in fast-growing Southeast markets. Speaking to investors at the BancAnalysts Association of Boston Conference on November 8, Chief Operating Officer Jamie Leonard detailed how Fifth Third has created the infrastructure – inclusive of digital and physical components – to create a differentiated customer experience that fosters deep banking relationships and drives sustainable organic growth.

Empowering American Cities, a collaborative initiative from Fifth Third Bank (FITB) and the Kenan Institute of Private Enterprise at the University of North Carolina at Chapel Hill, unveiled proprietary economic data at an event in Chicago last week.

Fifth Third Bank directors Laurent Desmangles and Linda W. Clement-Holmes have been named to Savoy Magazine’s 2024 Most Influential Corporate Directors list.

Fifth Third Bank, National Association, (Nasdaq: FITB) has announced Matt Nipper as Northern Ohio region president. Nipper succeeds Tom Partridge, who is serving as group regional president.

Fifth Third Bank continues its historic clean energy progress today by introducing hyper-fast electric vehicle (EV) chargers for the first time at one of its banking centers. Fifth Third is making six hyper-fast charging stations publicly available at its eTown location in Jacksonville, Florida to better serve current EV owners and those considering transitioning to an EV.

Fifth Third Bank, National Association, today announced it will decrease its prime lending rate to 7.75%, effective immediately.

Fifth Third Bank has partnered with Community Reinvestment Fund, USA (CRF) to launch the Small Business Catalyst Fund, a $7.85M investment that will empower small businesses across Fifth Third’s 11-state footprint to grow and create jobs in their communities and build a more equitable small business ecosystem.

For more than a century, Fifth Third Bank has managed private foundations, empowering individuals, families and institutions to realize their visions and leave a legacy for the greater good. ​It all started with Bank president, Jacob G. Schmidlapp. A pioneer, ahead of his time, he established the Jacob G. Schmidlapp Trust in 1903.

Fifth Third Bank is pleased to announce a new structure within its Commercial Bank that builds upon the organization’s successes and continues to position the firm for the future.

Fifth Third Bank is pleased to announce that Melissa Stevens, chief marketing officer, has been honored by American Banker for the sixth consecutive year and named to the 2024 Most Powerful Women to Watch list. The annual list highlights influential leaders at the top banks and financial institutions.

Fifth Third Bank is pleased to announce that Bridgit Chayt, head of commercial payments and treasury management, has again been named to American Banker’s list of Most Powerful Women in Banking. The annual list highlights standout accomplishments of female executives in banking and finance.

Fifth Third Bank, National Association, today announced it will decrease its prime lending rate to 8.00%, effective immediately.

In 2017, Fifth Third set an ambitious goal to power the Bank’s operations across its national footprint – including more than 1,000 retail locations and operational facilities across 11 states – with 100% renewable power.

Fifth Third Bank is pleased to announce a collaborative agreement between Newline™ by Fifth Third, a leading embedded payments provider, and Stripe, a financial infrastructure platform that enables businesses to seamlessly incorporate financial services in their products. Together, Newline™ and Stripe will expand embedded financial services for Stripe’s platform users and their customers.

For the fourth consecutive year, Fifth Third Bank has received a top score of 100 on the Disability Equality Index ®, the leading independent, third-party resource for the annual benchmarking of corporate disability inclusion policies and programs. Fifth Third has also been named among the index’s Best Places to Work for Disability Inclusion.

The Fifth Third Bank Financial Empowerment Mobile, commonly known as the eBus, brings financial access, social services and education directly into communities across the Bank’s 11-state footprint, especially in underserved areas. Since the eBus began its 2024 tour on May 3, it has traveled nearly 3,000 miles, visited 18 communities and served nearly 1,100 community members.

Customers want their banks to work for them to enable their goals, not to create new sources of complexity and potential challenges in their financial lives. This year, Fifth Third accepted the challenge of delivering new solutions that take the worry out of some of customers’ biggest banking stressors. Switching banks has historically been stressful – scheduling an appointment at a bank to fill out applications, figuring out HR processes to set up direct deposit for a new account, waiting for money to be available, and ensuring bills get paid on time.

Fifth Third is entering the Alabama market and today announced the opening of a commercial banking office in Birmingham. The office is an expansion of its Fifth Third’s operations in Georgia. The new office currently has commercial and treasury management capabilities and will expand to include a Fifth Third Private Bank office.

Fifth Third Bank announced today it has reached a comprehensive settlement agreement with the Consumer Financial Protection Bureau (CFPB) to resolve both its litigation related to sales practices and an investigation into the Bank’s auto finance servicing activities. Fifth Third has agreed to pay a $15 million fine for sales practices and a $5 million fine for auto finance servicing activities. This agreement requires Fifth Third to maintain existing policies and develop compliance plans. The Bank will also work with the Bureau’s supervisory arm to develop and implement remediation plans for any customers whom the Bank has not already remediated for these issues. The settlement resolves disputed sales practices issues related to a limited number of accounts opened beginning in 2010 and ending in 2016. The settlement also addresses the CFPB’s concerns about an auto collateral protection insurance program that Fifth Third voluntarily discontinued in January 2019.

Fifth Third has been named a winner of a 2024 CSO Award from Foundry’s CSO. This honor is given to a select group of organizations that have implemented security projects and initiatives demonstrating outstanding business value and thought leadership.

Fifth Third Bank is pleased to announce it has been named one of the Nation’s Best and Brightest in Wellness by the National Association for Business Resources (NABR). The companies who made this list prioritize employee health, well-being, and workplace culture.

Fifth Third has announced the opening of its sixth commercial banking office in California with a new location in Bakersfield. The expansion exemplifies the Bank's continued investment in the California market. Located in the Central Valley, the office covers Fresno, Kern, Kings, Madera, Mariposa, Merced and Tulare counties and is staffed by a locally based team with a longstanding history with the region.

For the last four years, Fifth Third Bank has been on a modernization transformation journey to secure and enable its customers and employees. These efforts have been recognized by the Identity Defined Security Alliance (IDSA), which named the Bank the 2024 Enterprise Identity Management Project of the Year. Fifth Third is one of four companies to receive this international award.

Fifth Third Private Bank, a division of Fifth Third Bank, was named Best Private Bank for High Net Worth Clients by The Digital Banker and Global Private Banker as part of the Global Private Banking Innovation Awards for the third consecutive year. In addition, the Private Bank was named Best Private Bank for Succession Planning for 2024.

Fifth Third Bank today announced its recognition as one of America’s Greatest Workplaces for LGBTQ+ 2024 by Newsweek and Plant-A Insights Group.