Compensation
Compensation
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In a pandemic-scarred year, boards and compensation committees at 60 large and regional banks relied less on the normal performance metrics and more on qualitative criteria to determine bonus payments.
May 21 -
The bank is launching a business called Morgan Health aimed at improving employee benefits and promoting health equity, first for JPMorgan’s workers and then for other large companies.
May 20 -
Mastercard will soon bring workers back to its New York City office at least two days a week.
May 19 -
The top executives at Bank of America, Citigroup and Wells Fargo all received less compensation during a year shaped by the pandemic, while several regional bank CEOs got large pay hikes.
May 19 -
The feature prints users' preferred name on credit and debit cards, and is live in the U.S. with Citigroup, BMO Harris and Superbia Credit Union.
May 18 -
The move follows four years of pay increases that brought the company’s minimum wage to an hourly $20 in 2020 from $15.
May 18 -
Bank of America is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps.
May 18 -
For JPMorgan Chase, it’s another step toward post-pandemic normal, but for the U.S. financial industry it’s a bellwether.
May 17 -
The Dallas bank appointed Sonya Trac to lead business development in communities that have been hit hard by both the pandemic-induced recession and a recent wave of discrimination. It is also depositing $2.5 million at a Los Angeles bank that serves Asian Americans.
May 12 -
Daylight, a digital banking platform for the LGBT community, uses its customers’ preferred names on debit cards rather than their legal names. Through a new social media campaign, the company is encouraging the American Bankers Association and its members to do the same.
May 12