Corporate governance

Coming out of the pandemic, traditional banks will have just two years to update their business models or they risk falling behind more innovative peers and aggressive upstarts, the consulting giant warns in a new report.

Canadian Imperial Bank of Commerce is having a harder time keeping costs in check as inflation picks up and the lender invests in its domestic consumer franchise.

The Federal Deposit Insurance Corp. might need to borrow money from the Treasury Department to manage the orderly liquidation of a systemically important bank. But if Treasury can’t legally issue more debt, that money may not be available.

Locality Bank in Fort Lauderdale and Gulf Coast Business Bank in Fort Myers would be the seventh and eighth banks to open in Florida since 2017 — the most of any state in that span. Organizers relish the chance to start from scratch, but some observers lament the drop-off in de novos from the pre-crisis era.

Deutsche Bank proposed Alexander Wynaendts as its next chairman of the supervisory board, tapping the former insurance executive to guide Germany’s largest lender as it emerges from a decade of crisis.

The retired Laurence Bensignor is prohibited from working for “any insured depository institution or any holding company of an insured depository institution” because of his failure to disclose key information about an alleged insider-loan scheme, the Federal Reserve says.

KeyCorp, Zions and Capital One are among the companies making big moves in a sector that is growing fast and viewed as recession-proof.

Even as the pandemic has hastened adoption of digital banking, industry officials say branches remain vital points of contact with consumers.

The Florida bank's agreement with the core provider FIS is expected to reduce annual expenses by $12 million. Analysts expect more banks to make similar moves.

Despite some bumps in the early days of the Paycheck Protection Program, small businesses report that they had positive experiences with lenders. Savvy banks are channeling the good vibes to generate more revenue from a sector that has sometimes been overlooked.