Jordan Stutts is a New York-based reporter covering national and regional banks and how the finance industry impacts society. Before joining American Banker, Jordan covered private equity at PEI Media. His journalism career began at Qcitymetro, a local news publication based in Charlotte, North Carolina.
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Bank of New York Mellon is hiking its minimum wage 12.5%, offering stock options to a wider range of employees and expanding well-being programs amid a tight labor market and increasing demand for employee benefits.
December 1 -
The Canadian bank reported a 70% decline in profits at its U.S. commercial banking and wealth management unit in the most recent quarter and boosted reserves amid distress in the commercial real estate market.
November 30 -
The Berkshire Hathaway legacy of Warren Buffett's longtime business partner includes large checks written to national banks as well as curt remarks about the industry's shortcomings. Munger died on Tuesday, a few weeks before of his 100th birthday.
November 29 -
The chief executives of U.S. Bancorp, PNC and Comerica say that fraud, regulatory uncertainty, technological challenges and other concerns are making them approach the adoption of real-time payments with caution.
November 16 -
Citigroup didn't admit any wrongdoing in its settlement of allegations by regulators that employees denied credit cards to people in Southern California suspected of being of Armenian origin.
November 8 -
The Treasury Department is expanding a whistleblower program, which currently deals only with anti-money-laundering violations, to include tips from employees of financial institutions that result in sanctions-related penalties.
November 5 -
The San Antonio bank reported a 14% increase in noninterest expenses and a 7% jump in loans. "We're not trying to be successful by shrinking," said CEO Phil Green.
October 27 -
Banking executives anticipate that loan demand will remain muted over the next 12 months, according to a new survey by the financial services firm IntraFi. That finding lines up with bankers' expectation that rates won't start declining until at least the second half of 2024.
October 25 -
The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic.
October 23 -
Executives say the $213 billion-asset company's strong credit performance in the third quarter positions it to pursue loan growth next year.
October 19