Industry News
For years, the Japanese-owned bank engaged in deception with respect to three different kinds of fees, regulators found. U.S. Bank inherited the liability when it acquired MUFG Union last year.
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Tony Macchi will be in charge of the Massachusetts community bank's ongoing digital transformation
June 15 -
Both regional banks announced weaker guidance for net interest income than they had foreseen two months ago. The disclosures highlighted pressures that figure to take up a lot of the oxygen during second-quarter earnings season.
June 14
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A West Virginia homeowner is suing the banking giant for charges incurred when paying by phone, claiming breach of contract and violation of consumer protection laws.
June 9 -
Citigroup, Bank of America, Wells Fargo and KeyCorp are part of a coalition that last year pledged to move $1 billion of deposits to minority depository institutions and community development financial institutions. On Thursday, organizers announced that the group has reached its goal.
June 8 -
After outsize profits at banks during the early stages of the pandemic led to big increases in compensation, chief executives collected a 7% median pay raise in 2022. The decline in stock prices following the recent banking crisis could weigh on the size of this year's awards.
June 6 -
The Tennessee-based bank was supposed to be acquired this year, but the merger fell apart a month ago. Now executives say that employees are energized as they reengage with clients who are relieved that they won't be switched away from First Horizon's systems.
June 6 -
Jennifer Schachterle will oversee the Home Loan bank's relationships with nearly 330 members. Two former members — Silicon Valley Bank and First Republic — failed this year, and consolidation has also thinned its ranks.
June 6 -
Bankers and a key government supervisor say the downfalls of multiple regional lenders reminded regulators that traditional M&A is better for the industry than failed-bank-deals.
June 6 -
During last year's proxy season, 14 large and midsize banks reported granting special awards in an effort to retain C-level executives. So far this year, just four banks have done so, reflecting a gloomier economic outlook, consultants say.
June 5
