Capital One Financial eliminated hundreds of technology positions this week, the result of the credit card giant spending years investing in systems meant to improve its efficiency.

Banks are now embarking on cost cutting, including mass layoffs.

Citigroup is raising compensation for its junior investment bankers by as much as 15% even as many Wall Street peers are cutting jobs and slashing bonuses after last year's industrywide deals slump.

Bank of America started telling executives to pause hiring except for the most vital positions, as it tries to keep a lid on costs and prepare for a possible economic downturn.

UBS Group doesn't plan to make the large-scale job cuts seen at global peers as the business of making investments for wealthy clients continues to see robust growth, Chief Executive Ralph Hamers said.

Citigroup has one of the more flexible policies on Wall Street when it comes to remote work. But if a worker's productivity dips, they can expect to spend more time in the office.

The Inclusiv Network and the National Association of Latino Credit Unions and Professionals opened the Juntos Avanzamos-NLCUP regional chapter in California last month. It's the first part of a campaign to address financial inclusion on a local level.

The banking industry pushed Congress to pass the Fair Hiring in Banking Act as part of last year's defense spending bill. But while banks and some public interest groups hailed the move, others say it doesn't go far enough.

The fintech is also relying more heavily on its bank charter as rising interest rates make selling loans to investors more challenging.

Despite the layoffs across the finance industry, there were no signs of a staffing pullback in JPMorgan Chase or Bank of America's fourth-quarter results. Wells Fargo's headcount dropped to 238,698 from 249,435 a year earlier