Fifth Third Bank says a fraud incident on a $200 million loan was a one-time occurrence.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The bank says it was the victim of fraud on a loan carrying a $200 million bal ...

Signage is displayed outside a Fifth Third Bancorp branch in Louisville, Kentucky, U.S., on Thursday, July 12, 2018. Fifth Third Bancorp is scheduled to release earnings figures on July 19. JPMorgan Chase & Co., Fifth Third Bancorp and Barclays Plc are among banks bracing for potentially hundreds of millions of dollars in combined losses from loans tied to subprime auto lender Tricolor Holdings, according to people with knowledge of the matter. Fifth Third said in a regulatory filing Tuesday that it face ...

The Cincinnati-based bank Fifth Third was victim of fraud on a loan in what its CEO says is a "one-off" incident. Herman Chan of Bloomberg Intelligence tells Open Interest that the bank will launch an internal investigation as it mulls a potential pullback on lending related to warehouse facilities ...

Fifth Third Bancorp (NasdaqGS:FITB) FY Conference September 10, 2025 07:30 AM ET Company ParticipantsTim Spence - President and CEOBryan Preston - EVP and CFOConference Call ParticipantsJason Goldberg - AnalystJason GoldbergWelcome to day three of Barclays' 23rd Annual Global Financial Services Conference. Thank you. We appreciate all your attendance here. We had a jam-packed morning of banks. We have a great cross-section of companies all in this room: Fifth Third, Regions, Morgan Stanley, M&T, State Stree ...

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Dive Brief: Fifth Third has been chosen by the Treasury Department’s Fiscal Service Bureau as the financial agent and issuing bank to manage the Direct Express prepaid card program, the Cincinnati-based lender said Tuesday.    The five-year agreement began Tuesday. The Treasury Department didn’t immediately respond to a request for comment. Last November, BNY was ...

Fifth Third Bancorp (NASDAQ:FITB) said on Tuesday that it discovered alleged fraudulent activity at a commercial borrower, which could result in an impairment charge of $170M to $200M. Shares were -4.12% Wednesday pre-market to $43.55. The bank holding company discovered ...

Key Insight: Fifth Third's appointment by the Treasury Department reverses its prior selection of BNY and signals a push to modernize Direct Express.Supporting Data: The program serves roughly 3.4 million unbanked Americans and has run on Mastercard's network since 2008.Forward Look: Expect expanded digital features over the course of the five-year contract.Overview bullets generated by AI with editorial reviewFifth Third Bank said Tuesday that the Treasury Department's Bureau of Fiscal Service has designat ...

Market Overview - U.S. equity markets experienced modest gains in August 2025, with the S&P 500 increasing by 2.2%, marking its fourth consecutive month of growth, driven by investor optimism regarding potential interest rate cuts and strong corporate earnings despite ongoing inflation and tariff concerns [1][9] Financial Services Sector Performance - The Financial Services sector saw significant investor optimism, with the KBW Nasdaq Bank Index and S&P Banks Select Industry Index rising by 5.5% and 8.3%, respectively, fueled by AI momentum, digital advertising strength, and expectations of a Fed rate cut [2][6] - Stronger-than-expected earnings reports and positive guidance from major financial institutions contributed to the bullish sentiment, alongside a rebound in capital markets activity [7][9] Key Financial Services Stocks - Assurant, Inc. (AIZ) is focusing on growing fee-based capital-light businesses, which currently account for 52% of its segmental revenues, with management projecting double-digit growth in this area over the long term [8][10] - Synchrony Financial (SYF) is leveraging its strong distribution channels and has expanded its offerings through acquisitions and partnerships, although it anticipates a decline in net revenues for 2025 due to higher Retailer Share Arrangements and lower loan receivables [14][16] - American Express Company (AXP) benefits from its dual role as a credit card issuer and network operator, with a projected revenue increase of 8-10% for 2025, despite exposure to credit risk from macroeconomic challenges [18][21] - Fifth Third Bancorp (FITB) is expanding its non-interest income base through strategic partnerships and acquisitions, with plans to open 50-60 new branches annually in high-growth regions from 2025 to 2028 [23][24] - Citizens Financial Group, Inc. (CFG) is executing a long-term growth strategy focused on wealth management and market expansion, with a new private bank initiative expected to raise $7 billion in deposits by 2024 [27][30]

Key Takeaways As part of the broader strategy to leverage technology and innovation, Fifth Third Bancorp (FITB) has acquired DTS Connex. The acquisition enhances FITB's capabilities in cash logistics, infrastructure, and risk management within its Commercial Payments business . FITB's Strategic Rationale Behind Buyout DTS Connex's advanced technology caters to the needs of businesses seeking more efficient, transparent, and controlled cash logistics management. By acquiring DTS Connex, FITB will streamline ...

Core Insights - Fifth Third has expanded its commercial payments business by acquiring DTS Connex, enhancing its cash management software solutions for multi-location businesses such as retailers, restaurants, and healthcare providers [1][2] - The acquisition allows Fifth Third to improve its cash logistics offerings, infrastructure, and risk management capabilities [2] - DTS Connex will operate as a wholly owned subsidiary of Fifth Third, maintaining its independent business operations [4] Company Strategy - The acquisition is aimed at automating cash operations and fostering collaboration across the cash ecosystem through advanced data sharing [3] - Fifth Third's previous collaborations with DTS Connex include the development of a deposit tracking solution that is part of DTS Connex's Cash Vault Direct product [3] - The bank's focus on client experience and technology-driven solutions is emphasized by the leadership of both companies [4] Recent Acquisitions - Prior to acquiring DTS Connex, Fifth Third acquired Rize Money in May 2023 to enhance its treasury management business [4] - In March 2023, Fifth Third also acquired Big Data Healthcare to strengthen its national healthcare revenue cycle capabilities [5] Financial Performance - Investments in tech-enabled products have resulted in significant growth, with a reported 30% year-over-year revenue increase in commercial payments [6] - The Newline by Fifth Third embedded finance platform contributed to an increase of over $1 billion in commercial deposits connected to its services [6]