In|Vest 2018 Direct

The Cincinnati bank and two payments companies have reached an agreement with merchants in California who accused them of illegally recording customer-service calls. The deal must still be approved by a federal judge.

Sarah Bloom Raskin, whose views on the role of climate risk in bank supervision angered Republicans, said she has taken herself out of the running so the gridlocked Senate Banking Committee could move forward with the Biden administration’s other nominees to the Federal Reserve Board.

The omnibus legislation includes two measures that affect the banking industry: a cyber incident reporting requirement and Libor transition fix.

Sheila Bair, who served under presidents of different parties, says she is worried about the potential aftermath of the recent partisan power struggle on the board of the Federal Deposit Insurance Corp. She recommends President Biden appoint Republicans or independents to its two open seats to ensure a diversity of ideas.

Central Pacific Bank is trying hard to appeal to young residents of Hawaii as well as the mainland U.S. and Japan. It's positioning its new digital checking account as a lifestyle brand as much as a financial product.

Chi Chi Wu is a senior attorney at the National Consumer Law Center with a focus on credit reporting and scoring.

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.

JPMorgan Chase agreed to buy Global Shares, a provider of cloud-based software for managing employee share plans, as the biggest U.S. bank scoops up firms to fend off competition.