Demographics

Bank of America boosted Chief Executive Brian Moynihan’s compensation 31% to $32 million for 2021, a year in which the firm set a record for profitability. 

JPMorgan Chase raised Chief Executive Jamie Dimon’s total compensation 10% to $34.5 million for his work in 2021, the firm’s most profitable year on record.

Many previously unbanked consumers are flocking to the banks that provide accounts with no overdraft or debit card fees and minimum opening balances of $25, according to a new report from the St. Louis Fed.

Ravi Mallela will step down as chief financial officer in early January. Chief Risk Officer Ralph Mesick will serve as interim CFO while the company searches for Mallela's replacement.

A few changes to underwriting rules could result in a huge opportunity for both lenders and minority women who own businesses.

Credit Suisse Group named Francesco De Ferrari to head its global wealth business and appointed new heads for the Americas and Switzerland, as the bank reorganizes after one of its most difficult years since the financial crisis.

Societe Generale Chief Executive Frederic Oudea is taking over the bank’s risk and compliance functions, seeking greater control over management of the bank’s legal affairs after it paid billions of dollars in penalties.

Formerly incarcerated people have long faced barriers to entering the mainstream financial system. Banks such as Old National and Bank of Hawaii are taking steps to help them, but the industry can do more, according to a new white paper from the American Bankers Association Foundation.

Several of Barclays PLC’s top shareholders have raised concerns about the terms of Jes Staley’s departure, as the fallout from his abrupt resignation continues to spread.

Jes Staley exchanged 1,200 emails with Jeffrey Epstein from 2008 to 2012 and the correspondence showed a close relationship between the pair, the Financial Times reported, citing people familiar with the correspondence.

JPMorgan Chase’s Daniel Pinto is moving to New York City as he prepares to assume the role of sole president and chief operating officer at the biggest U.S. bank.

Goldman Sachs Group is awarding a special bonus to Chief Executive David Solomon just months after docking his pay for the bank’s role in a corruption scandal.

The move is one of several the company announced this week and appears to position Anthony Restel, the current chief operating officer, as a potential successor to CEO Bryan Jordan.

Chief Operating Officer Thomas Montag and Vice Chairman Anne Finucane will step down at the end of the year. The company said it will unveil succession plans in the coming weeks.

Finance that relies on smartphones and smart contracts can lower costs for banking services and promote financial inclusion, proponents say. But a look at who is using the technology tells a different story.

Fintechs and banks have stepped up their efforts to help so-called “credit invisibles” obtain credit through secured cards, specialized installment loans and use of alternative data in underwriting. Amid much progress, questions remain about how effective these tools really are.

Brian Gunn, who will join the Tokyo-based bank on next month, previously served as chief risk officer at Santander Holdings USA, Ally Financial and a GE Capital subsidiary.

Jamie Dimon said he’s unlikely to be running JPMorgan Chase in 10 years, but he does see himself staying for another five years.

Stored-value cards are growing in popularity with underbanked gig workers who need an easier way to get paid as well as with younger consumers in Canada who have traditional bank accounts but prefer the cards for e-commerce transactions.