Subject Root Tag

Bank of America is donating $100 to local food banks and hunger-relief organizations for employees who register their COVID-19 booster.

The new name, Navy Federal Investment Services, reflects a wider range of products than the previous handle, Navy Federal Brokerage Services.

Banks and credit unions that cater to members of the armed forces are partnering with fintechs or patenting their own tools to help users convert currency, borrow money and handle financial matters in environments with unreliable internet service.

The credit bureaus plan to add repayment data for installment loans, a move that can inform credit decisions and help answer regulators' questions about how such borrowing affects consumers' financial health.

The last three months of 2021 were strong for most lenders, which will report results soon. But the outlook for the coming months has been clouded by the spread of the newest coronavirus variant, which has many banks grappling with staffing shortages and branch restrictions.

Some policymakers have been calling for a temporary halt to large bank deals while the criteria for approvals are reevaluated. Yet Congress was clear about its intention to stop regulators from holding up bank mergers, argues the head of a trade group for large financial services companies.

Daily edition for January 05, 2022

After Federal Deposit Insurance Corp. Chair Jelena McWilliams’ resignation, a Democrat on the board will temporarily run the agency. But it's still unclear who will call the shots over the long run and how policymaking will be affected by the FDIC's leftward shift.

The Senate Banking Committee will hold separate hearings next week for Jerome Powell on his nomination to a second term as Federal Reserve chair and for Lael Brainard’s elevation to vice chair.

Gaye Erkan was widely seen as the front-runner to succeed founder James Herbert. Following her abrupt departure, the San Francisco bank must decide whether to find its next leader internally or recruit an outsider.

Wells Fargo Chief Risk Officer Amanda Norton, who joined in 2018 to help turn around the scandal-ravaged lender, is leaving as the cleanup continues. 

American Express will give employees two weeks’ notice before it starts bringing a larger number of staffers back to its offices. The credit card giant had previously said it intended to start bringing back employees on Jan. 24.

Jennifer Ventimiglia, who joined Fortera in 2015, will also become chief executive after Tom Kane retires from this role.

Bank of America hired Benjamin Saunders from JPMorgan Chase for its financial institutions investment banking business.

The U.S.-based networks are offering credit cards and other products through financial technology companies that otherwise could allow consumers in the region to bypass bank-issued cards.

Personalized advice, embedded finance and virtual branches are among the initiatives financial services companies have on their drawing boards for the coming year.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

David Ratliff will lead all corporate and institutional client coverage teams in the Asia Pacific region, including corporate banking, financial institutions, and the global institutional client group, according to an internal memo.

Banks and credit unions need to do more for (and assume less about) customers who are over 50, says Theo Lau, founder of the advisory firm Unconventional Ventures.