Industry News
The Federal Reserve's unanimous approval is a win for the Rhode Island company, though it will have have to take part in an additional round of stress tests in 2023.
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David Miree will become global head of diversity, equity and inclusion for the New York megabank. He will succeed Brian Lamb, who will move into a new role in the firm’s commercial banking business.
March 22 -
The City Council recently voted 15-1 to establish a financial authority that would provide credit enhancements on loans to underserved borrowers. Public banking advocates say the effort is both an interim step for Philadelphia and a test case for other cities.
March 21
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Dontá Wilson, American Banker’s Digital Banker of the Year for 2021, succeeds Brant Standridge, who recently left the North Carolina company for a position at Huntington Bancshares.
March 17 -
The megabank will cover costs incurred by employees and family members who travel out of state to receive an abortion. The policy drew immediate fire from Republicans in Texas, which has banned abortions after six weeks of pregnancy, and where Citi has been tangling with the GOP over gun policies.
March 16 -
A group of religiously affiliated shareholders that had pushed the bank to write the report says it does not include the voices of key stakeholders. The report's recommendations, written by an outside law firm, touch on workforce diversity, customer remediation and preventing retaliation against employees.
March 15 -
In a survey last month, only one in 10 chief executives identified mergers as their top priority, while 77% pointed to organic growth. The sparse interest in dealmaking may be due to volatile markets, along with slower approvals from regulators.
March 14 -
Gibbons, who became CEO of Bank of New York Mellon in 2019, is retiring on Aug. 31. Robin Vince, who leads the trust bank's global market infrastructure division, will be his successor.
March 10 -
Lynn Fuller, whose family has held leadership roles at the Iowa bank for nearly 60 years, blasted a plan to consolidate the company’s 11 banking charters and advocated for the sale of the organization.
March 9 -
Key advocacy organizations are negotiating a community benefits agreement with Minneapolis-based U.S. Bancorp. Until a deal is reached, they are vowing not to back approval of the $8 billion acquisition.
March 8
