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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Amid high inflation and favorable conditions for job-seekers, several banks hiked their starting wages this year. But even as their labor costs rose, they still found it hard to hang onto employees.
December 23 -
A shareholder group that is pushing the nation's largest banks to conduct racial equity audits criticized JPMorgan Chase's effort, while giving a more favorable review of a Citigroup report. Banks small and large launched racial equity initiatives in 2020 in the wake of protests sparked by the murder of George Floyd.
December 20 -
Changes that began at individual banks in 2021 gained steam this year, as many large and midsize banks reduced their reliance on overdraft-related charges. Federal and state policymakers were key catalysts of the sea change.
December 19 -
The overwhelming majority of top leaders at large U.S and Canadian banks expect a prolonged downturn in 2023, according to a recent survey. Almost none of them expect it to be particularly harsh, though.
December 12 -
CEO Bill Rogers affirmed the North Carolina bank's commitment to an expansion of Truist Insurance Holdings. But he declined to comment on a recent report that the company was exploring the potential sale of up to 30% of the business.
December 6 -
Even though there has been some progress over the last eight years, men continue to hold many more board seats and jobs on executive teams than women, according to a recent report from DBRS Morningstar.
November 17 -
The San Francisco bank joined Bank of America, U.S. Bancorp and Huntington Bancshares, which have previously introduced similar products. The Pew Charitable Trusts said the loans are a more affordable option for cash-strapped consumers than payday loans and overdraft fees.
November 16 -
Since the start of the month, the San Francisco-based bank has announced the addition of three wealth management teams — one each from Merrill Lynch, JPMorgan Chase and Wells Fargo.
November 15 -
The San Francisco company is now estimating a net interest margin of 2.45% for the fourth quarter, down from 2.71% three months earlier. The profitability metric has suffered as customers ask for higher rates on their deposits.
November 10 -
Average deposits at the Northern California bank are expected to decline again in the fourth quarter as startups' spending outpaces the venture capital investments they raise. CEO Greg Becker acknowledged the near-term headwinds but said the bank's fundamentals remain solid.
November 7
