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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In response to the war in Ukraine, the custody bank is no longer pursuing new business in Russia. Citigroup, JPMorgan Chase and Goldman Sachs have all announced similar moves.
March 18 -
The megabank will cover costs incurred by employees and family members who travel out of state to receive an abortion. The policy drew immediate fire from Republicans in Texas, which has banned abortions after six weeks of pregnancy, and where Citi has been tangling with the GOP over gun policies.
March 16 -
The Cincinnati bank and two payments companies have reached an agreement with merchants in California who accused them of illegally recording customer-service calls. The deal must still be approved by a federal judge.
March 15 -
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.
March 9 -
Mary McNiff, who has been in the job since 2020, will step into a new, unspecified role later this year. CEO Jane Fraser, who is dealing with the aftermath of two consent orders, has said that updates to the company’s risk management systems are her top priority.
March 7 -
Citigroup says it will add about 900 staffers over the next three years as part of an effort to generate more revenue from midsize firms with global ambitions.
March 7 -
Five Star Bank, which is based in a rural part of New York state, has embraced digital lending, banking-as-a-service, real-time payments, bitcoin and more. “Those that don’t innovate don’t survive,” says Chief Administrative Officer Sean Willett.
March 6 -
The $7.6 billion deal was originally expected to close in the fourth quarter of last year, but the banks had pushed back their deadline until June. Once the merger is complete, the combined bank will have more than $200 billion in assets.
March 4 -
At the bank’s investor day, CEO Jane Fraser and other top executives outlined where they are investing, how they are reorganizing and what it will all cost.
March 2 -
Alternative lenders should be held to the same standards as banks under the Community Reinvestment Act and other laws, M&T CEO René Jones argued in a letter to shareholders.
March 1
