Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.
To identify fintech startups deserving of special recognition this year as part of the FinTech Forward program, a team of American Banker editors, BAI staff and industry members debated the merits of self-nominees and companies we know.
-
American Express has built platforms to help smaller brands quickly bring credit cards to market and for B2B software companies to embed virtual cards.
-
When the e-commerce giant designs and revises new store models like Just Walk Out, it faces a challenge: How do you train technology that requires real-world data that doesn't yet exist?
-
Payments fraud is the most expensive kind, at $450B; anti-financial-crime execs are the most worried about real-time payments, a survey from Nasdaq and Oliver Wyman found.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
An elderly client has $12 million in two homes she wants her children to inherit. How to make that happen without exposing the kids to estate taxes that could oblige them to sell?
-
-
About 30% of Mike Byrne's clients are not profitable, as he specializes in serving families with special-needs children. Those families are frequently overwhelmed and rarely wealthy.
-
Events at local breweries can be a fun way to educate younger members about getting their first mortgage but credit unions must walk a fine line at such events.
-
There’s bipartisan consensus that the conservatorships of Fannie Mae and Freddie Mac are unsustainable, but that may not be enough for lawmakers to upend the current system.
-
McLean Mortgage is not going forward with a potential sale to Congressional Bank in Bethesda, Md., saying an agreement that made sense for all parties wasn't possible.
Irvine-based CBC Bancorp's $121 million deal for Bay Community Bancorp in Oakland stands out at a time when high rates have put a damper on both the number of deals taking place and the multiples sellers are paying.
Federal Reserve Vice Chair for Supervision Michael Barr urged the Trump administration to continue reforms initiated under Biden and emphasized the importance of keeping the central bank apolitical.
-
A new book by Hal Weitzman examines the state's policies and how they affect corporate governance around the world.
-
The agency’s mission is popular with the public, which has a long memory when it comes to the past misdeeds of the banking industry.
-
Traditional banks already have the tools they need to win back consumers’ confidence, but they need to be smart about deploying them.
-
While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said.
-
Amid growing deepfake threats and successful biometric bypass attempts by fraudsters, the bank added an extra layer of security to strengthen the authentication process.
-
The Bank of New York Mellon had 117 different AI solutions in production at the end of September, Chairman and CEO Robin Vince said. That's up 75% from the second quarter.
-
An internal error worth more than double the world's GDP highlights both the operational risks and the transparent, self-correcting nature of public blockchains.
-
Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.
-
Federal Reserve Gov. Stephen Miran said Thursday that the central bank's forays into examining climate change and racial justice under the prior administration politicized the Fed. He also argued that Fed officials should limit their comments on economic policies such as tariffs.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
The Accountability Board, a three-year-old-group focused on corporate governance issues, said the bank shouldn't have backtracked on a longstanding policy separating the chairman and CEO roles.
New Federal Reserve research reveals that identity theft victims who use extended fraud alerts often see significant and lasting credit improvements.
The 23rd annual ranking of women leaders in the banking industry.
-
Partner Insights from FIS -
Partner insights from Infosys -
Partner Insights from Alloy -
Partner Insights from Alloy
