Allissa Kline

The unnamed firms must shut down because they lack securities registration, according to an order issued by state Attorney General Letitia James. Her office asked three other cryptocurrency-related companies to submit detailed explanations of their business models.

The company created through the combination of BB&T and SunTrust Banks expects to hit two final milestones in the first quarter of 2022. The bank is now turning its focus to performance, CEO Bill Rogers said.

Jane Fraser told analysts the company will spend what’s necessary to satisfy regulators’ concerns about risk management and internal controls. That includes incentives to encourage senior executives to resolve the problems promptly.

Spending on cards continued to increase during the third quarter, while loan balances rose slightly and payment rates began to return to more normal levels. A top company executive expressed confidence that loan growth will pick up but said, “It’s going to take time.”

More banks are boosting salaries to lure and keep workers in a highly competitive hiring market, but the pressure is on to trim expenses elsewhere to offset the pay hikes.

Seven months into her new role, Fraser is leading a corporatewide restructuring aimed at unifying and simplifying business operations, improving profitability and returning more capital to shareholders.

Lake is in her third role in four years at the nation's largest bank. Her breadth of experience makes her a likely CEO contender when current CEO Jamie Dimon retires.

Piepszak, who is considered by many industry observers to be a potential successor to JPMorgan CEO Jamie Dimon, was instrumental in developing the firm’s $30 billion racial equity commitment.

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.