Industry News
To help those who may not get paid during a budget deadlock, credit unions are reviving past programs such as low-interest loans, payment deferrals and forms of relief.
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Protesters who were arrested after blocking the entrances to big-bank offices in New York say they'll keep pushing for action on climate change. "I think the intensity of protests will only grow from what it has been over the last week," one activist said.
September 24 -
The nation's largest bank, which acquired the remains of San Francisco-based First Republic following its failure this spring, has completed its plans to close 21 offices this year. But the consolidation effort is likely to continue.
September 22
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Thomas Nides, a former U.S. ambassador to Israel and longtime Morgan Stanley executive, will take over the megabank's public affairs division as its work to fix regulatory concerns continues. He succeeds Bill Daley, the former chief of staff to President Barack Obama, who recently announced his retirement from Wells.
September 22 -
The top five banks have an average reputation score among noncustomers of 70.7 in 2023.
September 22 -
The top five banks have an average reputation score among customers of 84.1 in 2023.
September 21 -
Boston-based Eastern Bankshares says its premium on the sale of Eastern Insurance Group will help fund the acquisition of Cambridge Trust and build a wealth management powerhouse. But some analysts point out more revenue is being sacrificed than gained.
September 20 -
The $223 billion-asset bank said it will train its commercial bankers to work with clients to develop decarbonization transition plans. It also committed to reaching carbon neutrality within 12 years.
September 19 -
PayPal's new stablecoin offering should be setting off alarms at traditional banks, because it could seriously challenge their dominance in the payments space.
September 18 -
Revenue challenges are driving the Utah bank's plan to reduce expenses, according to CEO Harris Simmons. "I talk to our peers, and everybody's looking for ways to cut costs," he said.
September 14
