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The Rhode Island bank has launched a program that allows companies to use interest earned on their deposits to purchase credits. It's a way for companies to address climate change without reducing their own hard-to-abate emissions.
October 12 -
Labor costs constitute a major piece of banks' spending on preventing financial crimes despite technological advancements, and costs are leveling off despite new legislation. Here's why.
October 12 -
Sterling Bancorp is suing its founder and former CEO, Scott Seligman, to get him to repay dividends it alleges are tied to his influence over its problematic Advantage Loan program. The lawsuit claims Seligman was so controlling he even used a robot — nicknamed the "Scott Bot" — to surveil employees.
October 12 -
Greenlight introduced a new tier on Wednesday for app users that recognizes vehicle crashes, enables instant emergency alerts and more.
October 12 -
Some online banks are offering the highest rate on savings accounts only to new customers. The strategy could suppress deposit costs at a time when the Federal Reserve's aggressive rate increases have begun to put pressure on expenses.
October 11 -
The Federal Reserve's monetary policy objectives are on a collision course with the post-2008 capital and liquidity framework, and it's time for regulators to decide what those reforms were for.
October 11
American Banker -
Yvette Hollingsworth Clark, once the chief compliance officer at Wells Fargo, has taken on a similar role at the Boston-based custody bank.
October 11 -
Through acquisitions and partnerships, Amex has added working capital finance, business bank accounts, invoice management and payment options beyond cards.
October 11 -
Dozens of community bankers and housing experts offered their opinions on the Federal Home Loan Bank System, the first review in nearly 100 years. But the insurers, nonbanks and megabanks that use the system the most were largely absent from the debate.
October 10 -
Women focused on environmental, social and governance issues are seeing career opportunities open as sustainable finance initiatives become more critical to a bank's success.
October 9 -
At American Banker's Small Biz Banking conference, bankers said they are throwing community events, working with local nonprofits and trying to turn lending decisions from "no" to "yes."
October 7 -
Aeropay is partnering with other cannabis fintechs to build a full-featured compliant commerce offering while the federal SAFE Banking Act awaits passage.
October 7 -
Amid fears of a recession, industry observers will be on the lookout for signs of distress in credit cards and auto loans. One analyst said "the positive trends we've been seeing are starting to erode, and the pressure is going to start building."
October 6 -
The megabank made its first-ever disclosures about financed emissions in a report aligned with the Task Force on Climate-related Financial Disclosures. "The complexity of this process only served to highlight the critical need for consistent, verified public reporting of emissions and other climate-related data," the bank stated.
October 6 -
The bank claims it has migrated all traffic from third-party apps and services to its secure API.
October 6 -
The industry must adapt quickly to the changing preferences of entrepreneurs and the innovation of nonbanks such as PayPal and Square, according to speakers at American Banker's Small Biz Banking Conference. Traditional players such as U.S. Bancorp and Comerica say they're making the necessary investments.
October 5 -
Reflecting on two decades of changes in the banking industry, Stacey Friedman, executive vice president and general counsel at JPMorgan Chase, is struck by how women are more significantly represented in the field.
October 5 -
When Citizens Financial Group wanted to streamline its home equity line of credit, the bank turned to its expert in customer experience and analytics, Beth Johnson.
October 5 -
On July 15, Zions Bancorp. cut the ribbon on a 400,000-square-feet technology center in Midvale, Utah. The center lets the Salt Lake City-based bank's 2,290 tech employees, from cybersecurity experts to application engineers, work from one space instead of 12 buildings scattered across Utah.
October 5 -
Only six years ago, KeyBank was nowhere to be found in a ranking of the top 25 banks for lending to developers of affordable housing. Last year, under the leadership of Angela Mago, the bank finished in the No. 2 spot, sandwiched between Citi at No. 1 and JP Morgan Chase at No. 3, according to Affordable Housing Finance.
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