Mago, who was fourth on American Banker's Most Powerful Women to Watch list this year, succeeds Brian Fishel, who is retiring.

Shifting from earlier plans, the FDIC has established a special committee to investigate allegations of harassment and a toxic workplace culture at the agency. It will be led by directors Jonathan McKernan and Michael Hsu and may include as many as three nonvoting members from outside the agency.

In a lawsuit, Ardith Lindsey claimed that, despite cultivating a gender-inclusive public image, the bank knowingly tolerated a "locker room" environment.

Unions have historically had little success organizing bank employees, but recent high-profile gains for the labor movement have fueled hopes that will change. The two elections at Wells Fargo will be a test.

The megabank did not say how many positions it plans to cut as part of a reorganization that represents Jane Fraser's biggest move so far as CEO.

West Plains Bank and Trust in Missouri, No. 11 on this year's Best Banks to Work For ranking, wins high marks for constructive training, employee development, team culture — as well as excellent benefits.

The financial institutions in American Banker's Best Banks to Work For ranking are skilled in hiring new talent and ensuring those employees want to stay.

This year 90 banks made American Banker's 11th annual Best Banks to Work For ranking. The leaders of these institutions explain what it takes to be an employer of choice.

In addition to expense-reduction measures, the Wisconsin-based regional bank is selling almost $2 billion of mortgages and securities and will invest in its lending and deposit-gathering capabilities.

Los Angeles-based Lendistry — in less than two years — became the largest Black-run 7(a) lender. Its CEO credits a concerted effort by the Small Business Administration to reach out to minority lenders and businesses, whose participation in the lending program is growing.