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  • Consumer banking
    Sen. Sherrod Brown presses big banks on protections for service members

    The Ohio Democrat is pressuring the CEOs of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo to proactively provide financial benefits to active-duty service members. Those protections are enshrined in a 2003 law, but many service members do not seek them out.

    By Kevin Wack
    December 14
    Sherrod Brown
  • Public finance
    Citi is exiting the muni business

    After months of speculation, the firm confirmed it would "wind down" its municipal underwriting and market-making activities after a "broad-based review" of its muni business, according to a company memo.

    By Jessica Lerner
    December 14
    A sign for the bank Citi
  • Consumer banking
    Big banks get higher satisfaction scores, but lose ground with savers

    Retail customers at large banks were a bit more satisfied this year than in 2022, a new J.D. Power study finds. However, more of those same customers are moving cash to — and seeking advice from — wealth management firms and online banks.

    By Polo Rocha
    December 14
    Mobile banking
  • Industry News
    Santander Bank settles home appraisal discrimination suit

    A Connecticut-based couple sued the bank and Cavanaugh Appraisals, LLC for denying them a refinance in 2021 because of racial bias.

    By Maria Volkova
    December 14
    Santander sign outside a branch.
  • Payments
    How generative AI is changing Klarna's work culture

    The Swedish payment company is using generative artificial intelligence to make its human workforce more efficient — but also expects the technology to fill in for roles it loses to attrition.

    By John Adams
    December 14
    Klarna AB Expected To List In Europe IPO Bonanza
  • Career moves
    Truist lures new chief legal officer from Ally Financial

    Scott Stengel, who has been Ally's general counsel since 2016, will succeed Ellen Fitzsimmons, who is retiring after four years as head of legal affairs at Truist.

    By Allissa Kline
    December 13
    Truist Financial
  • Credit scores
    FICO creating credit scores for Ukrainian refugees

    Banks in Poland will be the first to start receiving and using the scores, which will allow Ukrainians fleeing their country to obtain credit in their new Polish homes.

    By Penny Crosman
    December 13
    Women and children fleeing Ukraine gather in Przemysl train station on March 2, 2022.
  • Wealth management
    JPMorgan shuttering robo-advisor citing low profits

    Come the second quarter of 2024, JPMorgan Automated Investing will be no more.

    By Justin L. Mack
    December 12
    JPMorgan-flag-Bloomberg
  • Housing
    Are mortgage servicers holding back assumption volume?

    While mortgage assumptions are on the rise, so too are complaints leveled against mortgage servicers for how they handle the loans. A common refrain is that the companies are moving too slowly.

    By Kyle Campbell
    December 12
    Remax-open-house.jpg
  • Monetary policy
    FOMC preview: Market expecting too much

    The Federal Open Market Committee's Summary of Economic Projections probably won't offer the 130 basis points of cuts next year that the market expects.

    By Gary Siegel
    December 12
    While the new dot plot’s median projection should “come down a little bit,” Brian Rehling, head of Global Fixed Income Strategy at Wells Fargo Investment Institute, said, it will be “nowhere close to where the market is expecting.”
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23RD ANNUAL THE MOST POWERFUL WOMEN IN BANKING

The Most Powerful Women in Banking 2025 cover photo was taken in the 10th floor private space of "The Landmark," the iconic Tiffany & Co. building at 727 5th Avenue in New York City.

ABM1025_Cover.jpg

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© 2025 Arizent. All rights reserved.
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© 2025 Arizent. All rights reserved.