Industry News
The two megabanks said that their capital requirements will rise in the wake of Federal Reserve stress tests, putting downward pressure on their distributions to shareholders. Meanwhile, Bank of America, Wells Fargo, Goldman Sachs and others announced plans to raise their dividends.
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The New York megabank’s decision, which takes effect on July 1, emerged on the same day that the Supreme Court overturned Roe v. Wade. JPMorgan Chase is following the lead of Citigroup, which announced a similar policy at the start of the year.
June 24 -
The bank is providing dedicated space within its headquarters for clients to collaborate with product designers to develop new ideas.
June 21
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Derek Meyer and Bryan Carson, former colleagues of Associated CEO Andy Harmening at Huntington Bancshares, will bring a combined six decades of experience to the Wisconsin company as it seeks steady hands in a turbulent market.
June 16 -
Wells Fargo, U.S. Bancorp, Truist Financial and PNC Financial were among the banks that said they are raising their prime lending rates from 4.0% to 4.75%.
June 15 -
The bank's purchase of Digital Payments Torana has become a key element of a newly combined payments business run by Amit Dhingra, enterprise payments director. The fintech's capabilities allow the bank to better serve government agencies, health care providers and other business categories.
June 10 -
Federal prosecutors in Manhattan are investigating the bank over allegations that it conducted so-called fake interviews with nonwhite and female job applicants, The New York Times reported Thursday.
June 9 -
The American Bankers Association’s credit conditions index fell sharply, as economists foresaw dampening loan demand. The weaker outlook lines up with major bank CEOs’ increased worries over a possible recession.
June 9 -
The executive has been given an expanded role in which he will tap into Santander Group’s annual $5 billion investment in technology.
June 8 -
Amy Bonitatibus will succeed Barri Rafferty, who left the San Francisco bank in early May.
June 7
