Citicorp announced Tuesday that Pei-yuan Chia, a vice chairman and
The resignation took effect at the end of August, the bank said.
Mr. Chia, 57, was one
He joined Citicorp in 1974 and had been director since April 1993 and
After building capital for years in anticipation of higher requirements, banks now face a lighter regulatory outlook under President Trump. But experts don't expect capital levels to come down quickly.
Unexpected changes in spending patterns on the P2P app caused the company to miss internal and analyst targets, resulting in a more cautious shift in its annual guidance and a plummeting stock in afterhours trading.
The Consumer Financial Protection Bureau will not enforce or supervise the 1071 small business lending rule, it announced in a press release. The rule requires collecting data on the race, ethnicity, gender and LGBTQ status of loan applicants.
Executives at the San Antonio bank say their business customers should be able to pass along higher costs from tariffs to consumers. Still, the bank acknowledged the risk of a recession.
The Small Business Administration is backing new legislation that would double the size limit on its manufacturing loans. Supporters say the bill has support on both sides of the aisle in Washington.
Large banks are ramping up AI investment at the same time they are reducing their workforces, though no one seems ready to publicly draw a connection between those two actions.
