Allissa Kline

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.

The former Fed vice chairman is the fourth new appointee to Klarna’s board since December. The Swedish buy now/pay later company has been enjoying rapid growth in the United States.

Events that unfolded in Minneapolis a year ago ultimately led to debt relief for Black farmers, bigger investments in Black banks, greater support for public banking, and more.

In a pandemic-scarred year, boards and compensation committees at 60 large and regional banks relied less on the normal performance metrics and more on qualitative criteria to determine bonus payments.

During the pandemic-induced lockdowns, the Federal Reserve loosened a rule requiring banks to cap certain savings withdrawals at six per month. Some banks have since dropped ceilings and associated fees, while others have stood pat.

The banks disclosed this week that they are under scrutiny for conduct that may have harmed consumers. The timing raises questions about whether the Consumer Financial Protection Bureau under President Biden is poised to bring more enforcement actions against large banks than it did under Trump-appointed Director Kathy Kraninger.

The probe is the latest example of the consumer bureau scrutinizing sales tactics at big banks following the Wells Fargo fake-accounts scandal. U.S. Bancorp said it is cooperating fully.

The 13-year company veteran will succeed Johannes “Johs” Worsoe on June 1. He will report to the firm’s newly named CEO in the Americas.

Joe Skarda, who was previously managing director of JPMorgan Chase’s U.S. wealth management central division, will oversee a unit that houses Key’s private bank, family wealth and mass affluent business segments.

The Charlotte, N.C., company and the nonprofit Operation HOPE already partner to provide coaching at nearly two dozen counseling centers within Truist’s branches. They plan to add 26 more counseling hubs, serving 1,000 Truist branches, by 2025.

Eighteen months after launching Second Chance in Chicago, JPMorgan is bringing the recruitment effort to Columbus, Ohio.