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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The New York City Banking Commission will now require banks seeking access to municipal deposits to provide detailed plans about how they are combatting discrimination. The commission is also implementing a public comment process as part of its process for determining which banks are eligible.
February 10 -
Goldman Sachs, Capital One and New York Community Bank are shrinking their workforces, and other banks are planning to do the same. Whether such reductions become more widespread will depend largely on loan demand in 2023, according to analysts.
February 9 -
The Dallas-based company is rolling out a national investment banking unit as it seeks to serve clients through the entire business life cycle. It has also promoted three top-level executives into new roles.
February 2 -
In a reversal from five years ago, six of the eight biggest U.S. banks by branch count now offer the loans, which observers see as safer alternatives to payday loans.
February 1 -
The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.
January 31 -
North Carolina-based First Citizens blamed a rise in problem credit on certain office loans that it acquired in the CIT Group merger. Connecticut-based Webster also expressed caution about the segment, which has been impacted by remote work policies.
January 26 -
The Dallas-based company says noninterest expenses should grow by low double digits in 2023 now that the bulk of the investments related to its business transformation have been incurred.
January 23 -
The parent company of Silicon Valley Bank, which has been mired in deposit challenges, expects little near-term change in the deployment of venture capital dollars, which executives say will keep putting pressure on SVB's balance sheet.
January 20 -
CEO Bill Rogers stopped short of confirming or denying speculation that the bank is seeking a buyer for part of the unit.
January 19 -
The Evansville, Indiana, company introduced a boutique-style wealth management business called 1834, which caters to high-net-worth clients.
January 18 -
For the fourth straight quarter, the nation's largest bank boosted its loan-loss reserves, this time setting aside $1.4 billion to cover potentially souring loans. Other big banks made similar moves as the industry braces for a potential recession.
January 13 -
A month after the National Community Reinvestment Coalition blasted KeyBank's mortgage lending record to Black borrowers, the group said it will send letters to the Federal Reserve and OCC about its findings.
January 12 -
The deal would create a $3.2 billion-asset bank with branches in four states, including an expanded presence in Texas.
January 9 -
The parent company of Silicon Valley Bank has tapped Kim Olson, a former bank supervisor who most recently worked at Tokyo's Sumitomo Mitsui Banking Corp., to oversee its risk department.
January 5 -
In his first American Banker interview since becoming CEO two years ago, Thomas Cangemi talks about the company's transformation into a full-service commercial bank now that it has completed its twice-delayed acquisition of Flagstar Bancorp.
December 23 -
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
