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Bank of Montreal is raising the minimum wage for its U.S. branch and contact-center employees to $20 an hour, its second such pay bump in less than a year, as companies fight for workers in a tight labor market.
July 11
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Spiking interest rates, increased regulatory scrutiny, and mounting recession fears have all contributed to a deceleration in mergers in 2022.
July 10
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The online consumer lender touts its AI-based underwriting models as a key strength, but analysts say larger-than-expected losses on some of its loans are contributing to funding pressures.
July 8
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Rogers Communications is experiencing a widespread network failure in its wireless and internet services, causing payment systems and automated teller machines at banks to go down.
July 8
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The Philadelphia bank's board acted fast to fill a vacant board seat after a recent court victory, ending a deadlock that kept Hill's position secure.
July 8
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The agency issued an advisory opinion warning that credit reporting bureaus and other entities using credit checks can no longer use disclaimers to bypass privacy protections.
July 7
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Citadel Credit Union, armed with a team of professionals who previously worked at Santander Bank, plans to hold its own in a commercial lending market dominated by PNC Financial Services Group, Bank of America and Wells Fargo.
July 7
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The latest development removes a custodian that had been appointed to the Philadelphia bank's board, where a vacancy created an opportunity for multiple factions to try to wrest control from CEO Vernon Hill.
July 7
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The 30-year average has made a steep reversal over the past two weeks following a large acceleration in mid-June.
July 7
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Truist Financial is raising the low end of its pay scale to $22 an hour, while JPMorgan Chase is implementing a floor of between $20 and $25. The wage hikes will likely put pressure on smaller banks to take similar steps to stay competitive.
July 6
