Allissa Kline is a Buffalo, New York-based reporter who writes about national and regional banks and commercial and retail banking trends. She joined American Banker in 2020 and previously worked for more than a decade at Buffalo Business First, where she covered banking and finance, insurance and accounting. Kline started her journalism career at the Observer-Dispatch in Utica, New York. She graduated from Colgate University and the S.I. Newhouse School of Public Communications at Syracuse University.
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CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.
October 13 -
Jane Fraser, who in February will become the first female CEO of a Wall Street bank, said during a Women in Banking event hosted by American Banker that she will be “the first of many, many more” to come.
October 8 -
The flood of liquidity that accompanied the pandemic recession isn’t likely to subside anytime soon. Banks will have to employ a mix of securities buying, hedging and other balance-sheet-management tricks to prop up margins longer than initially imagined.
October 5 -
To date, the Small Business Administration hasn’t acted on tens of thousands of applications that lenders have submitted since early August. However, it will begin doing so by early next week, an official says.
October 1 -
Smith, BofA's chief administrative officer, is leading the bank's push to tackle economic mobility challenges in its 91 markets.
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The company has been experimenting with ways to recruit more women and minorities, including a program to hire professionals who had left banking. But CEO Charlie Scharf’s reference to “a very limited pool of Black talent” for important jobs may make it harder for Wells to meet inclusion goals.
September 23 -
Jane Fraser, who is poised to become the first woman to lead a major U.S. bank, possesses turnaround experience and strong interpersonal skills that make her well suited for mending fences with regulators and investors, according to present and former colleagues.
September 21 -
Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.
September 17 -
Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies and hold off on moves like branch closings to better gauge which changes in consumer behavior will stick.
September 15 -
Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.
September 14
