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Michael Hsu, the acting head of the Office of the Comptroller of the Currency, said the agency is considering steps such as urging institutions to choose board members from a diverse candidate pool, “or requiring institutions to either diversify their boards or explain why they have not.”

With net interest margins at historic lows, investors will be looking for any signs of improvement in consumer and commercial lending when banks begin reporting third-quarter results this month.

Sen. Elizabeth Warren, D-Mass., said questionable financial transactions by senior Federal Reserve officials — two of whom have resigned — cast doubt on Fed Chair Jerome Powell’s ability to steer the central bank as President Biden mulls whether to reappoint him.

Bank of Montreal plans to raise its minimum wage for U.S. branch and contact-center employees to $18 an hour as companies face heightened competition for workers in a tight labor market.

The feature in its mobile banking app is helping the company connect with millennials and members of Gen Z, and it has led to 1 million appointments with bankers, BofA's chief digital officer says.

Unvaccinated employees also will face higher payroll deductions to cover the cost of testing and health insurance, starting next year, the bank said.

The disclosure was made as part of a filing about Circle’s planned merger with the special purpose acquisition company, Concord Acquisition Corp.

The new pilot program is only operating at four of more than 30,000 post offices nationwide. But it's drawing loud criticism from the banking industry and Republican lawmakers, along with strong praise from congressional Democrats.

Housing will still be a priority of the Consumer Financial Protection Bureau, but newly confirmed Director Rohit Chopra is also expected to investigate discrimination in the Paycheck Protection Program and bias in AI-powered lending algorithms.

David Pickney, who joined the institution in 2010, saw Texas Trust grow from six branches to 22 and more than double its assets to $1.7 billion.