Allissa Kline

Smith has been BofA's chief administrative officer since 2015, when CEO Brian Moynihan created the role for her.

As part of the “New Normal” task force she created last year, Trolli set up an internal channel to provide information on topics such as managing remote work and parenting during a pandemic.

Apart from overseeing global compliance, McNiff is a co-leader of the Citi Women Affinity group, which promotes gender equality across the company.

Commercial borrowers are leaning more often on alternative lenders that provide better speed and flexibility. At the same time, some banks are turning their backs on what has long been a bread-and-butter business.

U.S. Bancorp, M&T Bank, Citizens Financial are among the regionals that are buying smaller competitors in an effort to achieve greater scale.

In the last 10 months, three banks based overseas have announced their exit from retail banking in this country. Rising competition, revenue challenges and a pressing need to spend big on technology are driving the moves.

Already in 2021, the nation's largest bank by assets has purchased more than 30 companies, including both fintechs and firms that are more removed from the financial industry. Here's a look at eight of those deals and the thinking behind them.

Executives at JPMorgan Chase, Capital One and U.S. Bancorp all spoke this week about plans to take on upstarts that offer interest-free financing on consumer purchases. The increased competition figures to result in tighter margins across the category.

The sale comes nearly a year after the Cleveland bank said it would stop making consumer loans through car dealerships and focus more on relationship-oriented businesses. It plans to spend the proceeds on repurchasing up to $585 million of its own stock.

King, who helped build BB&T into a regional powerhouse before engineering its merger with rival SunTrust, will retire as CEO of Truist on Sunday. In an interview, he spoke about the importance of cultural fit in M&A, his own legacy and what he wants to do next.

From vaccine mandates to mask requirements, banks are being forced to make difficult decisions in response to fast-changing conditions. Here's a look at where 14 large and midsize companies have landed — at least for now.

Consumer advocates have long wanted to restrict banks' ability to collect overdraft fees. The Empire State's new law represents a small but consequential breakthrough as they push for nationwide reform.

The COVID-19 pandemic has exacerbated income inequality in America, and that has implications for banks and other lenders. Among those suffering most: renters, front-line workers and minority small-business owners.

Signed Thursday by Gov. Andrew Cuomo, the new law requires state-chartered banks to pay checks in the order they are received or from smallest to largest. The bill comes as banks nationally are revamping their overdraft policies.

CEO Thomas Cangemi is pushing to modernize a bank that for decades was focused largely on multifamily lending. The company has already agreed to buy the mortgage lender Flagstar Bancorp and its partnership with Figure Technologies, a blockchain-focused fintech, has the potential to make that acquisition more productive.

M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash — focused on job cuts in the seller’s hometown of Bridgeport — has been stronger than in other recent deals.

The announcement came a day after Citigroup said it would mandate vaccines for many of its workers. Capital One also said it is delaying its office reopening.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.

The Rhode Island company has been snapping up banks and nonbanks alike. It says that buying Willamette Management Associates in Oregon will augment its 2017 purchase of Western Reserve Partners.

The agreement will allow the state-backed investment fund to meet surging financing demand for renewable energy projects. It is the largest-ever private fundraising deal by a green bank in the U.S.