Organization Root Tag

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.

At American Banker's Small Biz Banking conference, bankers said they are throwing community events, working with local nonprofits and trying to turn lending decisions from "no" to "yes."

The Federal Home Loan banks and their clients were well represented in the Federal Housing Finance Agency's recent "listening tour." The public, not so much.

The New York State Department of Financial Services found that the community bank's policies led to minority borrowers paying more for auto loans. Though it did not find evidence of intentional discrimination, the bank agreed to pay a $950,000 fine and restitution.

The megabank made its first-ever disclosures about financed emissions in a report aligned with the Task Force on Climate-related Financial Disclosures. "The complexity of this process only served to highlight the critical need for consistent, verified public reporting of emissions and other climate-related data," the bank stated.

Citigroup's venture capital investing group made its first digital-asset seed investment in a Hong Kong-based digital-asset management firm. 

The latest bout of global financial volatility has heightened concerns about regulators' continuing failure to resolve liquidity problems with U.S. Treasuries — the debt that serves as a benchmark for the world.

The industry must adapt quickly to the changing preferences of entrepreneurs and the innovation of nonbanks such as PayPal and Square, according to speakers at American Banker's Small Biz Banking Conference. Traditional players such as U.S. Bancorp and Comerica say they're making the necessary investments.

Barclays will pay a $2 million fine to resolve allegations that it sent client orders to its own trading venue even when customers could have gotten better deals at competing platforms.

American Express is ending a requirement that employees need to be vaccinated against COVID-19 to enter offices as virus cases decline globally.

While the Financial Crimes Enforcement Network has finalized some Corporate Transparency Act rules, the timetable is unclear for regulations involving customer due diligence or database access for banks.

The September Federal Open Market Committee meeting may provide a turning point in monetary policy. Brendan Murphy, head of global fixed income, North America, at Insight Investment will offer his thoughts about the meeting and what to expect going forward.

When Citizens Financial Group wanted to streamline its home equity line of credit, the bank turned to its expert in customer experience and analytics, Beth Johnson.

On July 15, Zions Bancorp. cut the ribbon on a 400,000-square-feet technology center in Midvale, Utah. The center lets the Salt Lake City-based bank's 2,290 tech employees, from cybersecurity experts to application engineers, work from one space instead of 12 buildings scattered across Utah.

Only six years ago, KeyBank was nowhere to be found in a ranking of the top 25 banks for lending to developers of affordable housing. Last year, under the leadership of Angela Mago, the bank finished in the No. 2 spot, sandwiched between Citi at No. 1 and JP Morgan Chase at No. 3, according to Affordable Housing Finance.

As a technology executive for PNC Bank, Deborah Guild has long been helping women blaze career pathways in the business world. Now she's helping them in what seems a most unlikely field: auto racing.

As Global Chief Information Officer of JP Morgan Chase, Lori Beer manages a $14 billion budget and more than 55,000 technologists across the bank's businesses.

After 40 years on the job, Catherine "Cathy" Pombier Bessant is well ensconced among the sparse but growing ranks of senior stateswomen in finance. Bank of America's global technology and operations executive for 12 years and its vice chair of global strategy since September 2021, Bessant has topped American Banker's list of the Most Powerful Women in Banking three years in a row, from 2017 to 2019, and was inducted into AB's Hall of Fame in 2020.

When Peetz joined Citi in 2020, she was returning to work after three and a half years of retirement from a career that included leadership positions at Bank of New York Mellon, where she led the financial markets and treasury services group, and at JPMorgan Chase, where she had a variety of commercial lending, sales, and management positions.

Over the past year, Jane Fraser, Citi's first female CEO in the firm's history, completed a strategy refresh at the world's most global bank. Despite an implausibly volatile geopolitical environment, she steered Citi to robust first quarter 2022 earnings—returning $4 billion to shareholders, while commanding 200,000 employees globally, and serving millions of consumers and businesses across 95 countries.