Retail & Commercial

The company is focusing on the future of online retail banking. Next on its agenda: real people in its wealth management division.

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.

Erin Komorowski, a seven-year company veteran, will spearhead efforts to respond to climate change and increase diversity.

The technology giant is partnering with a fintech firm to deploy $25 million of deposits at minority-owned banks, community development financial institutions and other mission-focused lenders. It’s part of a broader effort by the iPhone maker to combat systemic racism.

A U.S. District Court ordered the Philadelphia-based bank, headed by Vernon Hill, to respond by Monday to Driver Management’s claim that its board improperly postponed a May 10 shareholder meeting.

Properly designed public banks would be safer than private banks while promoting economic growth.

A cannabis-related company said it has secured a $60 million credit facility backed partly by East West Bank. The California-based regional bank is moving into a realm once dominated by small banks, credit unions and more expensive nonbank lenders.

The San Francisco bank is following the lead of other U.S. megabanks by providing shorter-term targets ahead of 2050 climate pledges.

Over the past year, BofA has launched or enhanced a slew of technology-based features for business clients of all sizes, from a “start a business” microsite to cash-flow forecasting.

The moves were widely anticipated, with the markets already pricing them in, as the central bank attempts to get the upper hand on record-setting inflation.