First Horizon, TCF and Webster are among the banks eyeing efficiency initiatives that could include more branch closings, layoffs and reduction of office space. Expect others to follow suit as low rates and tepid loan demand tied to the pandemic pressure revenue.
5h ago
3 Min Read
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The Federal Deposit Insurance Corp.’s latest report on the industry’s health had positive news about the earnings recovery last quarter, but it also showed that low interest rates amid continuing economic uncertainty are putting downward pressure on asset yields.10h ago
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With COVID-19 cases soaring, a growing number of banks, including JPMorgan Chase, U.S. Bancorp and Capital One, have pushed back target dates for bringing employees back to offices. Some are even allowing them to work from home indefinitely.December 1
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Like LendUp, a small-dollar lender, Ahead Financials is targeting consumers who are gainfully employed but have blemished credit histories.10h ago
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The reduction marks the third time in three years the agency has cut annual fees for national banks.December 1
Podcast
The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.
Podcast
Opening a bank or investment account — or even securing employment in a racism-free workplace — is out of reach for many Black Americans.
Twenty of this year’s honorees were among our 25 Most Powerful Women in Banking in 2019, while four — Citizens Bank of Edmond’s Jill Castilla, City National Bank’s Kelly Coffey and JPMorgan Chase’s Lori Beer and Jennifer Piepszak — are former Most Powerful Women to Watch making their debuts here.
Many of the women in this year's list are familiar to American Banker readers, including J.P. Morgan's Mary Callahan Erdoes, Fidelity Investmemts' Abigail Johnson and Synchrony Financial's Margaret Keane. Seven honorees are newcomers, including two, Maria Hackley and Ida Liu, from Citigroup.
CEO James Schenck says the institution's military focus means it must provide services for a group of consumers who move every few years. That has helped it focus more on mobile services and less on brick and mortar.
Some workers have thrived while working remotely, but others miss the social interaction of an office, and the recent surge in coronavirus diagnoses means employers will be facing these challenges well into next year.
In a potentially good sign for credit unions, last week credit card spending reached its highest point since the start of the coronavirus pandemic, according to data from PSCU.
Leaders at the 85 institutions that made the eighth annual ranking have found ways to navigate crises (there have been plenty this year) while also bolstering employee morale.
They're making some headway in building workforces that better reflect the communities they serve, but progress has been slow. Here's why.
PODCASTS
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The success of some fintechs in getting bank charters this year only underscores how onerous the process remains for many others. That’s unlikely to change unless policymakers reconsider what it means to be a bank.November 18
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A Federal Reserve-issued digital dollar could speed up payments, expand financial access and reduce financial crime. But it also brings trade-offs that policymakers are only just beginning to consider.November 4
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Shawn Rose, chief digital officer, and Holly Pontisso, vice president of customer experience at Scotiabank at Toronto, share how they have adapted their digital offerings for people over 50, including making sure ageist attitudes don’t creep into digital channels or messaging.November 24
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Most fintechs entertain the idea of getting a commercial banking license from time to time, but Current is content partnering with banks, says founder and CEO Stuart Sopp.November 9
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Here are 10 more storylines that defined banking in 2020.November 30
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The California company agreed to acquire WestRiver Group in a move that will expand its debt fund business.November 30
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Though it is unclear why Rhinebeck Bancorp is looking to form Rhinebeck Commercial Bank, other mutual banks have pursued the strategy to work around a state law barring them from working with municipalities.November 30
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The agency finalized a policy allowing companies to submit formal requests for clarification on a regulatory issue. The bureau said it will publish the advisory rulings in the Federal Register.November 30
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BBVA USA was one of the first U.S. banks to deploy a real-time core system and to purchase a neobank. Here's what PNC may keep, and what it may jettison, after it acquires the U.S. unit of the Spanish banking giant.November 30
