Borrowers expect the Federal Reserve to raise interest rates next year to contain soaring prices and are locking in favorable terms now, bankers say.
November 24
3 Min Read
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Lawmakers are seeking documents from two companies — Blueacorn and Womply — over concerns about the suspected scale of fraud in Paycheck Protection Program loans they processed.November 23
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The Office of the Comptroller of the Currency reaffirmed national banks' ability to offer cryptocurrency services — with the caveat that its permission is necessary. Meanwhile, it joined other regulators in previewing additional crypto-related guidance.November 23
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Friendly Hills Bancorp's board is due for a shake-up after its management team underperformed for more than a decade, says shareholder Frank Kavanaugh.November 24
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Financial services companies tend to push out older employees. That’s a mistake, both because of the loss of institutional knowledge and because it’s older bankers who can build the best rapport with boomer customers.November 24
See the 19th annual ranking of the Most Powerful Women in Banking.
Quite a few of the executives in the ranking this year are newcomers, including women from Citigroup and Zions Bancorp.
The country’s biggest financial companies are well represented in the ranking. Citigroup leads the way, followed by JPMorgan Chase and Bank of America.
As part of American Banker’s Most Powerful Women in Banking and Finance program, we have selected five “Top Teams” for 2021.
As part of American Banker's Most Powerful Women in Banking and Finance program, we have selected 25 women who stand out in specific categories that have taken on increasing importance lately, including human resources, risk and ESG.
Executives at the 90 institutions that made the ninth annual ranking are boosting benefits to attract new employees, amid intense competition for talent. They’re also rethinking how they approach recruiting and increasing their diversity efforts.
Americans are changing jobs in record numbers, posing a challenge for all employers. Here's how the Best Banks to Work For are redoubling their efforts to recruit and retain talent.
Now that dispersed workforces are expected to be the long-term norm, banks are taking steps to maintain a sense of teamwork and giving managers new training in troubleshooting.
Recruiting from competitors can be hard to pull off, and it won’t create more equity in the industry. Some of the Best Banks to Work For are finding ways to develop, support and promote women who are already on the payroll.
First Busey Corp. is investing in software to eliminate the drudgery of some tasks. But this Best Bank to Work For will judge the success of the tech initiative by employee engagement more so than just efficiency. The goal is to boost morale.
From paying for lawn care when an Army Reservist on staff was deployed to offering employees office space and laptops for their children to do school work, United Bank in Alabama aims to make life easier for the people who work there. It is also ramping up internal training programs.
The Pennsylvania community bank lacked the resources to go all-in on developing a diversity, equity and inclusion policy, so it turned to grad students at Georgetown University for help.
PODCASTS
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Many fintech companies are offering quality, low-cost services to people who are left out of mainstream banking. But low-income consumers face barriers that technology alone can't solve.
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The Basel III reforms initiated after 2008 and the hard-fought Basel IV provisions completed in 2017 made banks more resilient. International consensus on new challenges like climate change and cybersecurity could be impossible.
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Circle CEO Jeremy Allaire argues that Gary Gensler’s association of stablecoins with gambling doesn’t match how they're used, the way they're regulated or their potential benefit to the financial system.
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AB - podcastBrett King, founder of Moven, host of the radio show “Breaking Banks” and co-author of the forthcoming book “The Rise of Technosocialism,” has strong opinions about how technology is changing finance and the world. His forecast includes more automation, fewer jobs and the emergence of central bank digital currencies.November 8
Best Credit Unions to Work For
Increased access to telehealth visits. Cash incentives to get vaccinated. Bring your dog to work — every day. These credit unions, though still providing traditional team-building fun and games, have taken extra steps this year to cater to the needs of employees.
Employees of these credit unions, the largest of this year's Best Credit Unions to Work For, get perks such as one-on-one meetings with the CEO, time off to volunteer, and better loan rates.
These credit unions range offer perks such as higher starting wages, on-site training and annual bonuses. They also foster a sense of community with game nights, holiday parties and birthday celebrations.
Massages, a "bring your dog to work" policy, telemedicine and Zoom happy hours help these credit unions strike the right balance between work and personal needs.
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Symphony Technology Group is in talks to acquire parts of Fidelity National Information Services' capital markets business in a deal that could be valued at about $2 billion, according to people familiar with the matter.November 24
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Despite naming key leaders of the Federal Reserve this week, including renominating Chair Jerome Powell, the Biden administration delayed its pick for vice chair of supervision. Moving a nominee for the post later through the divided Senate could prove difficult, analysts said.November 23
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Jane Kulich, who worked for Citizens Bank in Mukwonago, Wisconsin, was killed when a driver plowed into the gathering in nearby Waukesha.November 23
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Professional Holding CEO Dan Sheehan is dismissive of off-the-shelf bank technology. “Whatever we’re getting in a box, the next hundred competitors are going to be able to get.”November 23
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JPMorgan Chase once again stands alone as the world’s most systemically important bank after global financial regulators recommended a higher capital burden for the firm.November 23
