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The top executives at Bank of America, Citigroup and Wells Fargo all received less compensation during a year shaped by the pandemic, while several regional bank CEOs got large pay hikes.
May 19
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U.K. and EU regulations enable cards that provide digital-first features for funds kept in a different bank's account.
May 19
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The concept amplifies spending visibility from the center of the business way out to its edges, creating more transparency.
May 19
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DMG Blockchain is using hydro power to mine bitcoin. It's part of a movement to support crypto without straining local power grids or polluting the environment.
May 19
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Peeyush Nahar, who also spent 14 years at Amazon, brings both Big Tech and startup experience to a consumer-banking unit that has lost several senior leaders in recent months and faces challenges common to entrepreneurial divisions within large organizations.
May 18
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Mortgage lenders have much riding on a yearslong effort to overhaul a program that requires homeowners to hold policies in flood-prone areas. A congressional panel meeting to discuss the issue was once again split between lawmakers from storm-threatened states and those concerned about government costs.
May 18
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The agency said it will reconsider the controversial regulation to reform the Community Reinvestment Act, and allow banks to halt efforts to comply with key provisions of the framework.
May 18
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The biggest U.S. banks criticized a pair of proposals designed to help consumers who don’t use their services.
May 18
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The feature prints users' preferred name on credit and debit cards, and is live in the U.S. with Citigroup, BMO Harris and Superbia Credit Union.
May 18 -
Share buyback programs, shelved by many banks last year amid pressure from regulators to preserve capital, are back in vogue, with three dozen banks announcing such plans in April alone.
May 18
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The Springfield, Virginia, credit union named Scott Benson, its chief operating officer, to succeed Lynette Smith as chief executive.
May 18
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The move follows four years of pay increases that brought the company’s minimum wage to an hourly $20 in 2020 from $15.
May 18
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The consumer and community banking unit of the nation's largest bank will be run by Jennifer Piepszak and Marianne Lake, two would-be contenders for the CEO role when Jamie Dimon retires. The company also named a new chief financial officer.
May 18
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DailyPay has raised $500 million and is adding Carrick Capital Partners to its board of directors as it seeks to expand beyond earned wage access.
May 18
