Former employees' Minnesota lawsuit accuses the bank of overpaying for prescription drugs, claiming mismanagement of the bank's health plan drove up costs for workers.

The lender denied its software uses artificial intelligence in fighting a 'digital redlining' case.

The Hammond, Louisiana, company, which announced changes to its business strategy, cut 71 jobs and reduced its dividend to 8 cents per share.

Fostering financial well-being among the country's fastest-growing demographic group is essential to the future of the American economy. And, not incidentally, it's also good for business.

Two Northeast banks will get new CFOs next month. Webster Financial hired Neal Holland, the former CFO of the failed First Republic Bank, and Eastern Bankshares hired David Rosato, who left Berkshire Hills Bancorp last month.

A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.

A sharp decline in bonuses led to a decrease in median bank CEO pay last year.

New top executives were lined up for lenders across the West and Midwest, including Bank of North Dakota.

By adopting more inclusive lending practices and actively seeking to support minority-owned businesses, banks can help bridge the financing gap that often stifles the growth of these businesses.

All cultures have explicit and implicit biases. Preventing discrimination when large language models are involved starts with using high-quality human-curated data and text.

AI tools, such as large language models, offer the promise of increased efficiency; but they also carry with them potential legal and regulatory risks. Financial service providers will need to find a way to strike the right balance as technological advancements continue to emerge.

Due to retirement, burnout, heightened regulatory standards and profitability challenges, lots of lenders are looking for new chief financial officers. The wave of departures is giving banks a chance to bring in more highly skilled finance chiefs.

IntraFi has joined two banking industry trade groups spearheading an effort to source large institutional deposits at small, cash-starved CDFI and MDI banks.

The company's shareholders are ill-served by its large investments in fossil fuel projects that both damage the environment and present major financial risks.

The Boston-based custody bank will place deposits at Carver State Bank, Citizens Trust Bank and Ponce Bank as part of its broader effort to help reduce the wealth gap. State Street plans to place a total of $100 million of deposits at minority depository institutions this year.

In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.

Fifty-seven percent of financial services firms now operate on a hybrid basis, according to new research from American Banker. Some banks are finding ways to maximize the positive aspects and minimize the negative ones.

The compensation committees at PNC, BOK Financial and a few other banks decided that their top leaders performed well amid industry challenges, and rewarded them for it.

Total direct compensation for the CEOs of large and midsize banks declined by 6.6% in 2023, and annual bonus payouts tumbled by 30%. The decreases came as banks grappled with the fallout from last spring's banking crisis.