Retail & Commercial

Raymond Gatcliffe, the head of Citigroup's commercial bank in Europe, the Middle East and Africa, will replace Richard Banziger, who is retiring after 38 years with the company.

Banks are still seeking clarity from law enforcement on how to handle the alleged protesters’ accounts. Finance Minister Chrystia Freeland said some accounts have already been frozen as part of a financial crackdown on those accused of paralyzing the nation's capital.

Almost 350,000 loans made to small businesses in 2020 during the COVID-19 pandemic haven’t been forgiven, according to a Bloomberg News analysis of Paycheck Protection Program data, and most of them are for less than $25,000. 

The tax preparer has a well-recognized brand and wide reach, but needs tech help for its neobank.

The agreement to acquire Vantage Financial in Minnesota comes less than a year after Peoples Bank purchased North Star Leasing in Vermont.

Royal Bank of Canada shareholders will vote on whether the bank should tighten its standards for sustainable finance, action inspired by a 2021 pipeline financing deal that was criticized for greenwashing and general concern over lax standards for so-called sustainability-linked debt.

The Silicon Valley fintech expects to make $1.5 billion in auto loans this year after implementing key elements needed to achieve scale, said CEO David Girouard. The expansion comes as the automotive market continues to boom.

Jennifer Barker, who will join Bank of New York Mellon in May, is expected to maintain the custody bank’s focus on its digital transformation.

The acquisition of Bend Financial will accelerate the Connecticut bank’s efforts to deliver an improved digital experience to HSA customers, executives said.

By helping consumers understand how to manage their money in a world of shifting financial options, banks can differentiate themselves from new competition and stay relevant.