Industry News
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.
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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
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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 -
Both loan demand and credit availability have contracted sharply, according to senior executives at several of the nation's largest banks. Their comments came against the specter of a potential recession.
June 4 -
Investments in carbon-removal credits could help scale new technologies, and they offer certain benefits over the purchase of carbon offset credits. But critics said the $200 million investment is small in comparison with the bank's commitment to reach net-zero emissions by 2050.
May 24 -
The banking giant plans to put all asset managers through training in Python programming language, whether they 'like it or not.'
May 22
