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Mary McNiff, who has been in the job since 2020, will step into a new, unspecified role later this year. CEO Jane Fraser, who is dealing with the aftermath of two consent orders, has said that updates to the company’s risk management systems are her top priority.
March 7
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U.S. payment giants like Visa, Mastercard, American Express and PayPal — along with smaller companies like Paysera in Lithuania — have blocked transactions or pulled out of Russia and Belarus in response to the invasion of Ukraine.
March 7
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Bank of Montreal laid out a plan to sharply reduce emissions connected to loans to the energy and power-generation sectors by 2030 as its aims for a longer-term goal of being net zero.
March 7
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President Biden is set to sign an executive order this week that will outline the U.S. government’s strategy for cryptocurrencies, according to several people familiar with the administration’s plans.
March 7
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The cryptocurrency trading platform said it blocked wallet addresses related to Russian individuals or entities that it believes to be engaging in illicit activity.
March 7
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The Augusta, Maine, credit union has promoted its executive vice president, Stephen Wallace, to succeed H. Tucker Cole, who plans to retire in June.
March 7 -
Sberbank said it’s looking at the possibility of issuing cards using the Russian payments system Mir and China’s UnionPay after Visa and Mastercard suspended operations following the invasion of Ukraine.
March 7
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Citigroup says it will add about 900 staffers over the next three years as part of an effort to generate more revenue from midsize firms with global ambitions.
March 7
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The long-awaited Community Reinvestment Act reform plan is likely to address climate change and bank partnerships with nonbank lenders, while also taking into account the shrinking number of U.S. bank branches, government officials said Monday.
March 7
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Companies with staff in the war-torn country are relocating some and supporting those who choose to stay.
March 7
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On Dec. 31, 2021. Dollars in thousands.
March 7 -
On Dec. 31, 2021. Dollars in thousands.
March 7 -
U.S. credit unions that serve Ukrainian immigrants are coordinating efforts to provide aid in Ukraine while bracing for cyberattacks at home.
March 7
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Block, the digital payments company run by Chief Executive Jack Dorsey, is under investigation by the Consumer Financial Protection Bureau and multiple state attorneys general in connection with its Cash App service.
March 7
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The Federal Reserve's models assume interest rates will decline if the economy falls into a recession, but as big banks prepare for their annual stress tests, they should also be considering the impact of rising rates and higher inflation on their operations.
March 7
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A portion of Goldman Sachs Group’s Russia staff is relocating out of the country as firms react to a global effort to shut off the Russian economy after the invasion of Ukraine.
March 7
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Zeta Services, a banking and credit card technology unicorn, has raised $30 million from investors including Mastercard, and the two announced a five-year collaboration to help customers launch credit card services.
March 7 -
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Five Star Bank, which is based in a rural part of New York state, has embraced digital lending, banking-as-a-service, real-time payments, bitcoin and more. “Those that don’t innovate don’t survive,” says Chief Administrative Officer Sean Willett.
March 6
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The companies' moves came a day after Visa and Mastercard said they were halting business in Russia because of its attack on Ukraine.
March 6
