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Raymond Gatcliffe, the head of Citigroup's commercial bank in Europe, the Middle East and Africa, will replace Richard Banziger, who is retiring after 38 years with the company.

In a Senate Banking Committee hearing on the economy, Republicans reiterated their demand for more transparency from Sarah Bloom Raskin, President Biden's pick to serve as vice chairman for supervision at the Federal Reserve.

Chief Financial Officer Emily Portney said Bank of New York Mellon would be interested in buying more custody assets if an opportunity arises and the price is right. In the meantime, it continues to eye deals for small tech companies.

Banks are still seeking clarity from law enforcement on how to handle the alleged protesters’ accounts. Finance Minister Chrystia Freeland said some accounts have already been frozen as part of a financial crackdown on those accused of paralyzing the nation's capital.

The credit union plans to expand its suite of trust and estate services available to members.

Almost 350,000 loans made to small businesses in 2020 during the COVID-19 pandemic haven’t been forgiven, according to a Bloomberg News analysis of Paycheck Protection Program data, and most of them are for less than $25,000. 

The tax preparer has a well-recognized brand and wide reach, but needs tech help for its neobank.

The private-equity firm Madison Dearborn Partners, which agreed to pay $1.8 billion to acquire the money transmitter, is the latest in a long line of potential buyers.

The agreement to acquire Vantage Financial in Minnesota comes less than a year after Peoples Bank purchased North Star Leasing in Vermont.

Royal Bank of Canada shareholders will vote on whether the bank should tighten its standards for sustainable finance, action inspired by a 2021 pipeline financing deal that was criticized for greenwashing and general concern over lax standards for so-called sustainability-linked debt.