Industry News
Scott Stengel, who has been Ally's general counsel since 2016, will succeed Ellen Fitzsimmons, who is retiring after four years as head of legal affairs at Truist.
-
Come the second quarter of 2024, JPMorgan Automated Investing will be no more.
December 12 -
Proposed capital rules aimed at bigger institutions will force regional and larger community banks to consider ways to grow or seek an exit strategy, bankers and analysts predict.
December 11
-
The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.
December 4 -
The two companies announced the deal more than a year ago and had anticipated closing it in the first half of 2023. But advocacy groups have urged regulators to withhold approval, arguing that it will hurt consumers.
December 4 -
Expenses at Canada's second-biggest bank are higher than they should be, and the layoffs are one part of a plan to control costs going forward, executives say. Other Canadian banks including CIBC, Scotiabank and BMO have also shed workers this year.
December 1 -
The Berkshire Hathaway legacy of Warren Buffett's longtime business partner includes large checks written to national banks as well as curt remarks about the industry's shortcomings. Munger died on Tuesday, a few weeks before of his 100th birthday.
November 29 -
The platform will allow banks to share the names and account information of suspected scammers almost in real time. The American Bankers Association is set to test the system with a group of 20 pilot banks early next year.
November 28 -
Arthur J. Gallagher & Co. has been a prolific acquirer, purchasing the insurance brokerages from multiple banks over the last year. Its management has indicated it has another $3.5 billion that it can use for more deals.
November 26 -
The number of women CEOs at top-50 banks will soon fall to one with the departure of Kelly Coffey from the top job at City National Bank. The recent trend line shines a light on the industry's shallow bench of women in C-suite roles.
November 22
