Investments

A semiannual online banking scorecard highlights areas where banks are doing well and could improve, such as customizable home pages and transparent fees.

Erin Komorowski, a seven-year company veteran, will spearhead efforts to respond to climate change and increase diversity.

The technology giant is partnering with a fintech firm to deploy $25 million of deposits at minority-owned banks, community development financial institutions and other mission-focused lenders. It’s part of a broader effort by the iPhone maker to combat systemic racism.

The San Francisco bank is following the lead of other U.S. megabanks by providing shorter-term targets ahead of 2050 climate pledges.

Canadian Imperial Bank of Commerce, Canada’s fifth-largest bank by assets, will cover some of the costs for employees’ gender-transition surgeries and related procedures not covered by government programs.

Goldman Sachs Group and JPMorgan Chase are discussing extending abortion benefits to cover travel after an internal debate was reignited this week by the leak of a draft Supreme Court ruling to overturn Roe v. Wade.

Treasury Secretary Janet Yellen defended the Biden administration’s approach to economic recovery during COVID-19, but said the pandemic underscored the ways that prudential regulation for nonbanks may be warranted.

The first-of-their-kind measures, urging banks to move more aggressively to curtail new fossil-fuel lending, garnered between 11% and 13% of the vote at Bank of America, Citigroup and Wells Fargo. Those totals were less than climate activists had hoped to garner, but high enough to clear certain thresholds for resubmission next year.

Bank of America said it will make all of its plastic credit and debit cards from recycled material beginning next year. 

Bankers trying to get their net-zero CO2 targets certified now face hard deadlines to reduce capital flows to fossil fuels.