Banking

The New York megabank is considering splitting its institutional clients group division into three parts following the upcoming departure of top executive Paco Ybarra, the Financial Times reported. The heads of the three segments would report directly to CEO Jane Fraser.

Two-thirds of business executives expect to pursue merger-and-acquisition deals over the next 12 months, according to a new EY survey. That's good news for larger banks with M&A advisory operations.

As consumers' cushion shrinks, they are becoming more dependent on their paychecks to maintain their standard of living. Economists are split on whether wage growth is strong enough to fill the gap.

Tighter credit standards and lower demand for business loans could make it harder for the Fed to achieve the soft landing it's seeking. Still, bankers are cautiously optimistic, noting that some businesses are using their savings to invest at a time when borrowing costs are high.

Banks are committing financing for a slew of new deals, while investors clamor for syndicated loans as interest rates rise.

Banks pay millions of dollars each year to have their names become part of the lexicon of sports-obsessed Americans. Here's a look at the largest deals, which span pro baseball, football, basketball, hockey and soccer.

Roughly 55% of people sentenced for embezzling funds from 2007 to 2017 were women, according to new research. Some experts suggest women are more likely to hold accounting and money-handling jobs, while others say the trend is a reflection of biases by employers and law enforcement.

Cambridge Savings Bank's Ivy Bank online-only unit has spent two years offering CDs and savings accounts. Meanwhile, Sumitomo Mitsui Financial Group's new digital bank, Jenius, launched with personal loans. Both want to widen their product sets to benefit both sides of the balance sheet.

There has been a recent surge in organizing efforts among credit union employees. To discourage this, leaders should pay workers well, provide good benefits and be accessible.

Unionizing a workplace is an arduous process, meaning that employees who organize are dedicated to change. Executives must seize on these moments to address workers' concerns instead of reacting defensively.

Expansions in the state by giants such as JPMorgan Chase and Bank of America could accelerate credit union consolidation, as evidenced by two recent deals.

Banking and credit union regulators encouraged compassionate treatment of customers in Hawaii communities hit by wildfires. They also vowed to grant expedited approvals of temporary banking facilities, be flexible in compliance matters and provide other support to financial institutions.

Consumers favor credit cards that offer better spending rewards and that card issuers should consider providing services to help their customers manage growing account balances, J.D. Power's annual survey found.

After an aborted attempt to set up its own bank, Edward Jones is joining forces with Citi to provide savings and checking accounts for clients.

The embattled credit card company, which is bracing for regulatory action, warned Thursday that heavy spending on risk management and compliance will persist. Executives also said that internal and external candidates will be considered for the permanent CEO job.

Many institutions are building internal development programs to lower the barriers of entry to more senior roles as aging leaders retire.

Establishing a conduct risk authority in the U.S. would go a long way toward restoring trust in the banking industry.

The credit card company is no stranger to regulatory penalties, but its CEO's sudden departure this week raises the specter of a more painful punishment tied to possible compliance shortcomings. Analysts are hoping to get clarity Thursday on how bad things could get.

The Pittsburgh company has tapped the U.S. blue-chip bond market for the second time since the banking crisis in the spring. Companies are hurriedly raising capital before the cyclical summer slowdown that typically kicks in toward the end of August.

Higher interest rates and increased competitive pressure from captive finance companies cut into vehicle lending at credit unions in the second quarter.