Bank of Montreal's capital-markets division is cutting a number of jobs across its businesses and locations in response to weakening market conditions, according to people familiar with the matter.

The Department of Housing and Urban Development is investigating allegations that the real estate appraisal standards written by the Washington nonprofit perpetuate discrimination.

Bank of America is starting a paid sabbatical program to reward its long-term employees, starting with four weeks off for those who have spent 15 years with the company.

The fourth-largest U.S. bank by assets has commissioned an outside law firm to assess its diversity practices. Wells had previously resisted a shareholder proposal that would have authorized a similar review.

Over the course of 10 years, the bank's Disability Advocacy Network has implemented other initiatives to improve interactions with staff members and customers with disabilities or cognitive disorders.

Sarver, who owns the NBA's Phoenix Suns and the WNBA's Phoenix Mercury, is facing a one-year suspension and a $10 million fine after an investigation found evidence of workplace misconduct. The Arizona bank where Sarver previously served as chairman and CEO is also discussed in an investigative report released Tuesday.

After investment banking fees fell by 54% last quarter, the nation's largest bank by assets is considering cutting back. "Last year, we had to add a lot of bodies just to execute the huge amount of volume we were executing," Chief Operating Officer Daniel Pinto said Tuesday.

Protego Trust Bank in Seattle, a bank in formation with plans to open this year, named financial technology veteran Ron Totaro its first chief executive.

The San Francisco bank's employee retirement plan allegedly overpaid for preferred stock that was eventually deposited into employees' retirement accounts. The bank said that it "strongly disagrees" with the Department of Labor's allegations, but it agreed to the payment in order to resolve the matter.

While the total number is less than some previous rounds, the reductions are a resumption of Goldman's annual culling cycle that it had largely paused during the pandemic, according to people with knowledge of the matter.