Allissa Kline

Banks are struggling to hire and retain workers in a tight labor market. To stay competitive, they are making concessions on wages and remote work that likely would have been unnecessary before the pandemic.

The longtime global head of liquidity and cash management will step down in the fourth quarter, HSBC announced in an internal memo. She will be replaced by Manish Kohli, Citigroup's global head of payments and receivables.

Flagstar’s main business is lending to nonbank mortgage lenders, and New York Community Bancorp CEO Thomas Cangemi has a plan for tapping those borrowers to drive loan and deposit growth.

Comerica, which focuses on the energy sector, reported strong payment trends last quarter, while M&T, which concentrates more on real estate, showed deterioration. The divergence reflects varying exposures to sectors hit hard by the COVID-19 recession.

Commercial and industrial loans fell 14.3% in the second quarter. But CEO Chris Gorman says green shoots are emerging, pointing in particular to recent stability in credit line utilization rates.

The San Francisco company said it will offer workers varying degrees of flexibility based on job type and experience. The bank will also collect data on who has been vaccinated.

A strong showing by the North Carolina bank’s insurance arm helped to overcome lower interest rates and sluggish lending in the second quarter.

The global company says that a quicker-than-expected economic recovery is creating some opportunities to invest in businesses that will generate returns over time.

While customers of the nation’s largest bank are spending more, an unusually small percentage of their purchases are becoming debt. Executives warn that the bank’s predicament could persist for the rest of the year.

PNC, Regions and TD are among the banks that have taken steps to reduce their reliance on charges that disproportionately hit consumers living paycheck to paycheck. The changes come at a time when the Biden administration is expected to take a tougher stance on overdrafts.

Bankers insist borrowing will pick up on the back of a post-pandemic economic recovery. But so far there are few signs of a rebound, and analysts are skeptical one is imminent.

Jennifer Eastes is tasked with spearheading and accelerating environmental, social and governance efforts at the Cleveland-based company.

The nation’s largest bank has no retail presence outside of the U.S., but that will change later this year when it launches an online-only bank in the United Kingdom. CEO Jamie Dimon has hinted that if the venture proves successful, the Chase brand could eventually be rolled out in other parts of the world.

Inventory shortfalls continue to constrain commercial lending, while the savings glut is holding back consumer borrowing, industry executives say. The good news: At some banks, pipelines are at or above pre-pandemic levels.

Fears of widespread credit losses have largely subsided, but demand for new commercial real estate loans remains lackluster because many companies are sitting on so much cash they don’t need to borrow. Meanwhile, competition from private equity groups and other nonbank lenders is escalating.

Following the sale of its U.S. retail banking unit to PNC Financial Services Group, the Spanish bank is turning its focus in this country to wholesale banking.

The four largest U.S. banks face investor pressure to deliver the returns of smaller rivals, but they complain that the federal deposit cap and capital rules make that difficult. So they're pouring money into wealth management, payments and digital banking to seize more market share in existing businesses and fend off nonbank challengers.

The efforts to bolster risk controls and simplify global operations will ultimately lead to better shareholder returns, Jane Fraser said, while urging investors to show patience.

Ally and Huntington are the latest banks to take steps that will reduce revenue from customers who spend money they don’t have. The moves come at a time when technological, regulatory and social forces are converging to encourage change.

The London-based banking giant announced a plan this week to exit the mass-market U.S. retail business and focus on managing the wealth of affluent globe-trotters. But other international banks will provide stiff competition.