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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Criticized assets are on the rise, especially in commercial portfolios, and may be the forerunner of a wave of loan losses later this year or next year unless economic conditions strengthen.
August 12 -
Institutions large and small are either creating new positions or elevating existing diversity heads to C-suite roles. Will the moves help banks improve equality within their ranks and better serve their communities?
August 9 -
In what was a challenging quarter for the industry, the company reported strong loan growth and a wider margin. Continued momentum will depend on government stimulus, the reopening of New York City and borrowers' ability to make payments after their deferral periods end.
July 29 -
The company's foundation, whose mission had been carefully planned by BB&T and SunTrust before their merger, opened just nine days before the novel coronavirus was declared a pandemic. Here’s what happened next.
July 28 -
Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.
July 24 -
Longtime executive Christine Lowthian had been serving as interim chief compliance officer at HSBC Bank USA since April.
July 23 -
Other regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.
July 22 -
Mike Santomassimo is at least the sixth ex-colleague of CEO Charlie Scharf to join the bank’s leadership team in the last nine months.
July 21 -
The Federal Reserve, U.S. Mint and financial industry representatives are strongly considering a public call for Americans to deposit their spare change, among other fixes, to get coins circulating again. Meanwhile, banks of all sizes are getting creative at the local level.
July 21 -
The Warsaw, N.Y., bank said it will close 10% of its branches and lay off 6% of its staff in response to customers’ growing preference for remote banking.
July 17 -
The North Carolina regional created by the merger of BB&T and SunTrust is saving money by shedding office space and reworking vendor contracts, but it was forced to put its systems integration on hold for up to a year to prioritize tech upgrades tied to the pandemic.
July 16 -
Megabanks like JPMorgan Chase boosted loan-loss provisions to record levels in the second quarter in preparation for what could be a wave of loan defaults.
July 14 -
The pressure is on for banks to help Black and Hispanic households build net worth. Many say that starts with diversifying the ranks of middle and upper management.
July 12 -
The company has established a fund that will provide capital, technical assistance and long-term recovery support to small businesses, especially minority-owned companies. The other megabanks are expected to donate their fees, also.
July 9 -
Less than three weeks after making a $1.05 billion pledge to fight racism, the Pittsburgh company promoted two Black bankers to its top-level management committee.
July 7 -
In response to the Federal Reserve's stress tests, Wells said it will lower its third-quarter distribution to shareholders. Meanwhile, JPMorgan Chase, Goldman Sachs and five other companies announced stress test capital buffers that exceed the minimum requirement.
June 29 -
Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.
June 26 -
The coronavirus crisis led to "the greatest acceleration of digital banking in history." Here's what to expect next.
June 23 -
The Pittsburgh-based company said the funds will be used to support community development, minority-owned businesses and charitable organizations that work to promote social justice.
June 18 -
They join an ever-expanding list of companies choosing to close offices early Friday to observe the day that commemorates the end of slavery.
June 17
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