The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1.
October 29
4 Min Read
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The company is best known for its reciprocal deposit program, but it’s finding new ways to serve banks without competing for their customers.October 29
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The New York State Department of Financial Services says banks and credit unions under its supervision should limit loan concentrations in vulnerable geographic areas, avoid overexposure to fossil fuel and other legacy businesses and develop financial disclosures detailing climate-related risk.October 29
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Many in the industry were adding counseling services to benefits packages even before the coronavirus outbreak spurred demand for assistance with mental well-being.October 28
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Both developments are part of the company’s strategy of becoming a full-service bank for its young, affluent customer base.October 28
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.
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.
Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began.
A comment by the megabank's CEO could be a teachable moment as financial institutions of all sizes attempt to diversify their ranks.
The industry called for modifications to the regulator's phase-in proposal on the new credit loss standard while acknowledging the broader changes it wants are up to the Financial Accounting Standards Board.
PODCASTS
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The fees have helped banks recoup costs of free or low-cost checking accounts for decades, but they can penalize low-income customers and drive them away from banking. Is there a better way?October 7
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For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse.September 23
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Kabbage co-founder Kathryn Petralia, whose company is being sold to American Express, discusses government and financial-sector lifelines she says could help businesses that have been hit hardest by the pandemic.September 29
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Caitlin Long, a former Morgan Stanley and Credit Suisse managing director, is starting a special-purpose depository institution that will provide payment and custody services to institutional investors and corporate treasurers.August 31
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Renaud Laplanche's fintech will give borrowers cash back when they lower their loan balances.October 29
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The Hawaii bank has paid employees who carpool, bike or walk to work. About a third of the workforce bought into the program before the pandemic, and it's expected to continue once life returns to normal.October 28
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The Florida company has created a series of programs to coach leaders on motivating employees and avoiding conflict.October 28
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The community bank has developed trivia and other Zoom-based games to keep workers engaged during the pandemic.October 28
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Donald Felix will join the Rhode Island company in January as head of national banking. He recently was responsible for developing a personal finance management strategy for JPMorgan Chase’s consumer bank.October 28
