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.