Consumer banking
The Nashville bank has recruited a veteran commercial lender in Asheville who had worked with First Horizon, and it has hired four more bankers in Chattanooga.
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Spiking interest rates, increased regulatory scrutiny, and mounting recession fears have all contributed to a deceleration in mergers in 2022.
July 10 -
Truist Financial is raising the low end of its pay scale to $22 an hour, while JPMorgan Chase is implementing a floor of between $20 and $25. The wage hikes will likely put pressure on smaller banks to take similar steps to stay competitive.
July 6
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Community development financial institutions will receive low-interest loans from Bank of America and use that money to fund the development of primary health care centers in communities of color and rural areas.
July 1 -
The U.S. retail arm of Bank of Montreal plans to reduce the charge from $36 to $15, following the approach taken by M&T Bank and Huntington Bancshares.
July 1 -
Wells Fargo has historically underperformed its competitors in the credit card business. The Autograph card, which offers triple points for travel, dining and gas, is part of CEO Charlie Scharf’s effort to compete more effectively.
June 27 -
JPMorgan Chase, Bank of America, Goldman Sachs and Wells Fargo joined Citigroup in pledging to expand benefits to cover travel for out-of-state abortions. Smaller banks in blue states were more vocal, with one female CEO saying: “I stand in disbelief.”
June 24 -
JPMorgan Chase, Bank of America and Wells Fargo will account for more than $2 billion of the lost revenue, according to a new report from The Pew Charitable Trusts.
June 23 -
Inter is listing on Nasdaq and plans to offer banking and payment products tailored for immigrants in the States.
June 22 -
At the Digital Banking Conference in Austin, Texas, speakers shared advice on technology upgrades, digital leadership and letting go of fear.
June 20
