Citigroup and Bank of America are partnering with four large European banks to create a methodology for assessing how well companies in the air-travel sector are doing in meeting climate-related targets.

Two Republican lawmakers are calling for the cancellation of U.S. government contracts with Citigroup after the banking giant vowed to cover travel costs for employees seeking abortions

New York Fed researchers found that banks operating in areas hit by tornadoes, floods and other calamities weren’t financially hurt by those disasters. That surprising result comes with significant caveats, however.

Bank of America saw its busiest year on record for sustainable finance deals as demand for environmental, social and governance investments accelerates. 

Robyn Luhning, the bank’s head of environmental and social risk management, takes the position at a time when financing for the fossil-fuel industry faces scrutiny. Other large banks have created similar roles in recent years.

The Federal Deposit Insurance Corp. is the second U.S. regulator to outline strategic planning and other steps banks with more than $100 billion of assets can take to minimize damage from severe weather events and the transition to a low-carbon economy.

Climate activists have forced votes this spring on whether big banks should move more aggressively to cut off their financing of fossil-fuel companies.

JPMorgan Chase said it will do a third-party audit of its $30 billion racial-equity commitment, following Citigroup and BlackRock in agreeing to such a review.

Deutsche Bank's wealth management business has stopped accepting new Russian clients living abroad, joining other lenders in reducing business with the country’s rich.

American fossil-fuel suppliers are moving to tie their bank credit lines to sustainability goals, including slashing their carbon footprint. 

Barclays plans to step up its financing of renewable energy as Russia’s war on Ukraine adds to the urgency of moving away from fossil fuels.

Visa Chief Executive Al Kelly, who’s been helping employees and their families who have fled the war in Ukraine, said he expects a “prolonged battle” because Russian President Vladimir Putin has underestimated the strength of the resistance. 

Federal financial agencies’ role in combating climate change has become a politically polarized topic, as the withdrawal of Fed nominee Sarah Bloom Raskin shows. Treasury Secretary Janet Yellen and other regulators could make changes to exam procedures and take other steps that don’t require congressional cooperation.

Credit Agricole has suspended its activities in Russia, joining a growing list of lenders scaling back their business in the country after the invasion of Ukraine.

Sanctions imposed over the Ukraine war prompted the French bank to tell commercial clients it won't process their Russian transactions after March.

PayPal does its part in Ukraine, recognition for U.S. Bank and more in banking news this week.

European banks trying to decide whether and how to leave Russia in the wake of the invasion of Ukraine are finding that extracting themselves will be slow, costly, and may come with a reputational price no matter what they do.

Texas is seeking information from more than a dozen major finance firms on whether their operations discriminate against the fossil-fuel industry. 

HSBC Holdings promised to “phase down” its financing of the fossil fuel industry, sending a warning to oil and gas clients as the bank works toward its target of net-zero emissions.

A group of religiously affiliated shareholders that had pushed the bank to write the report says it does not include the voices of key stakeholders. The report's recommendations, written by an outside law firm, touch on workforce diversity, customer remediation and preventing retaliation against employees.