Laura Alix

Even though industry economists and Federal Reserve officials expect the recent price surge to wane, some big-bank executives are expressing concern about the risk of an inflationary spiral hindering the recovery from the pandemic recession.

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.

While the industry is facing greater pressure to scrutinize the environmental risks associated with its financing activities, many banks also sense opportunities in climate change. Here are some examples.

Acquiring the U.K. bank’s East Coast branches and online-only bank is “great for our balance sheet, great for our physical footprint” and will accelerate the growth of Citizens’ own direct bank, says Chief Executive Bruce Van Saun.

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.

Last year, many banks made big, splashy pledges to advance racial equity. Now some of those banks are seeking to hold executives accountable for those efforts through their paychecks.

The $1 billion bond, which follows similar issuances by Citigroup, JPMorgan Chase, Bank of America and Truist Financial, gives a big role to broker-dealers owned by minorities, women and disabled veterans.

The U.S. arm of Mitsubishi UFJ Financial Group has hired nine bankers away from Wells Fargo in an effort to expand its restaurant finance group. The lender focused on the fast-casual and quick-serve segments during the pandemic and anticipates growth in that sector.

The Cincinnati company's new Momentum checking and savings will give customers extra time to avoid overdraft fees, quicker access to paychecks and the option for advances on future direct deposits.

Khan, who began her banking career as a part-time teller, heads the bank's retail operations in Minnesota and Western Wisconsin.

Two new government reports suggest that U.S. consumers’ fortunes have improved since the start of the pandemic, with bankruptcies falling sharply and fewer people falling behind on bills. But it’s not clear how long the positive trends will sustain themselves as government relief efforts wind down and evictions and foreclosures resume.

Human resources professionals predict that 2021 will be a year of rampant job-hopping as workers who were reluctant to make a move during the pandemic are now reassessing what they want.

Large banks like Chase, PNC and U.S. Bank were seen as having more resources to devote to customer relief and upgrade digital channels that consumers came to rely on, according to a J.D. Power survey.

CEO John Turner said green projects present a strong business opportunity for the Birmingham, Ala., company.

The Portland, Ore., company has a simple growth plan: convert more Paycheck Protection Program borrowers into long-term customers.

Morgan Stanley was also among 43 banks worldwide to sign on as initial members of the Net-Zero Banking Alliance. Convened by the United Nations, the group has pledged to help clients in carbon-intensive industries — including transportation, mining and agriculture — reduce their reliance on fossil fuels.

The Ohio company has opened just 32 of 120 new branches it plans in the region by 2022, but those offices are making a sizable contribution to growth.

The Connecticut company has struggled to put deposits from its health savings account business to work across the Northeast. Buying Sterling Bancorp for $5 billion will provide Webster with new opportunities in a number of business lines, including asset-based lending and equipment finance.

The leaders of Citizens Financial and Truist predict lending will bounce back in the second half of 2021 as the economy normalizes. But PNC chief Bill Demchak says there are scant signs that businesses are gearing up for a rebound.

The company’s payments services business has struggled during the pandemic, but executives are counting on commercial clients’ embrace of real-time payments to help fuel the unit’s growth in 2021.