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Goldman Sachs Group said it plans to close its operations in Russia, the first major Wall Street bank to leave in response to the nation’s invasion of Ukraine.

Gibbons, who became CEO of Bank of New York Mellon in 2019, is retiring on Aug. 31. Robin Vince, who leads the trust bank's global market infrastructure division, will be his successor.

The industry is contending with trading volatility, the economic effects of soaring energy prices and the risk of prolonged high inflation following Russia’s Feb. 24 invasion. Citigroup, TD and Comerica are among the banks that have commented on how their businesses may be affected.

Lynn Fuller, whose family has held leadership roles at the Iowa bank for nearly 60 years, blasted a plan to consolidate the company’s 11 banking charters and advocated for the sale of the organization.

Samantha Beeler, the league's incoming president, is currently vice president of advocacy for the Northwest Credit Union Association.

The legislation by Sens. Rob Portman and Gary Peters has bankers worried about burdensome reporting requirements.

The Montana Democrat also urged his Senate colleagues to pass the SAFE Banking Act, while Sen. Jerry Moran of Kansas claimed that the Republican boycott of Sarah Bloom Raskin had nothing to do with her views on climate change.

Citigroup, in the midst of overhauling its businesses in Russia when the country went to war, has seen efforts to sell a consumer banking unit there stall and is helping some employees transfer abroad.

The data from these transactions could help millions of borrowers with thin or nonexistent credit files. But how the credit reporting industry collects and treats the data may matter more than the data itself.

Germany has emerged as the main roadblock to broaden European Union sanctions against Russia by targeting the country’s biggest bank and its energy sector.