Laura Alix

Liu's promotion is one of a series of moves the company is making in its newly reorganized wealth management unit.

Bank of America, which has had an environmental business goal since 2007, is significantly increasing its current commitment.

In his annual message to investors, the JPMorgan Chase CEO said Big Tech and fintechs are "here to stay" and vowed to be aggressive in taking on these new challengers. He also predicted that the economy would take off this year, but said capital rules prevented banks from doing more to help blunt the impact of the pandemic recession.

While branchless banks are taking market share from brick-and-mortar rivals, they aren’t necessarily wowing consumers with service, according to a recent J.D. Power survey. The findings suggest that direct banks can do a better job communicating with their customers, particularly in times of crisis.

One in five Americans started banking with a new financial institution while dealing with economic hardships over the past year. But data suggests the relationships are tenuous and competition for customer loyalty will intensify.

Bank of America said Tuesday that it would up its initial commitment from $1 billion to $1.25 billion and would increase support in Asian American communities, where violence and incidents of harassment have risen sharply during the COVID-19 pandemic.

The Rainforest Action Network says the 2020 decline stemmed more from weak energy demand during the pandemic than banks’ pledge to reduce financing to firms that contribute to climate change.

Banks ditched radio ads, direct mail and sports sponsorships and instead produced spots for social media, video games and streaming services, all while adjusting their messages to feel more relevant to the times. Now, with coronavirus cases declining, will they return to the old normal?

The $235 million acquisition will bring CEO Jared Wolff's company a trove of cheap deposits and the chance to slash costs without having to significantly change its business model.

M&T Bank, Citizens Financial and Huntington Bancshares are playing it safe even as some of their counterparts have started to trim allowances in response to government stimulus efforts and rapid progress in the rollout of the coronavirus vaccine.

Comerica, Regions and KeyCorp executives say their companies will proceed with caution despite the green light from the Federal Reserve to buy back stock in case they have to cover a surge in loan growth as the economy recovers.

The Dallas company has given Summer Faussette, an external affairs executive, the additional role of national African American business development manager, with a special focus on networking with nonprofit organizations.

MUFG Union Bank is offering a new deposit product to commercial clients who want to see their cash reserves used to help finance sustainable projects, such as renewable energy or green transportation.

The bank’s new holding company, Amalgamated Financial Group, is the first publicly traded financial services company to become a public benefit corporation. It says the legal designation will help officers and directors balance the interests of shareholders and the public.

Going green takes time, so lenders need to start revamping entire business relationships now, according to one sustainability-focused nonprofit. That process could include setting environmental goals for fossil-fuels companies and other customers that are conditions for continuing to finance them.

Geneviève Piché, who has worked in investment banking at the company for 20 years, will be in charge of helping corporate clients make environmentally and socially responsible investments.

The five-year pledge, tied to the company's pending acquisition of CIT Group, earmarks nearly $6 billion for small-business lending and $3.2 billion for affordable housing.

The Boston-based bank said the Office of the Comptroller of the Currency gave it the highest grade possible on its most recent Community Reinvestment Act examination. Santander had received a “needs to improve” grade in 2017 and a “satisfactory” rating in 2018.

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.

Comerica, Regions and Frost Bank closed hundreds of branches statewide while others ran them at reduced capacity or on power generators to help ease the strain on the state’s overwhelmed power grid.