Investments

Banco Bradesco, Brazil’s second-biggest bank by market value, is partnering with the Miami-based fintech BCP Global to offer digital investments to upper-middle-class and rich Brazilians.

BlackRock, the world’s largest issuer of exchange-traded funds, will move most of its U.S. ETF assets from State Street to reduce its reliance on the bank’s custody services.

CEO Jane Fraser said the bank isn’t a fan of the idea of simply asking clients to dispose of any so-called brown assets, which would just shift the problem to a new owner.

The city and the nonprofit Operation HOPE will offer $100 to kids from low-income households, with banks playing an assisting role. “Once you own some stock, once you have an account, now you're watching that grow and you’re a participant in the” financial system, said John Hope Bryant, the nonprofit's founder and CEO.

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.

Recruiting from competitors can be hard to pull off, and it won't create more equity in the industry. Some of the Best Banks to Work For are finding ways to develop, support and promote women who are already on the payroll.

JPMorgan Chase was removed on Thursday from a $700 million Louisiana municipal bond deal after the bank’s stance on guns drew criticism from state Republican officials.

Adelphi Bank in Columbus, Ohio, would be just the nation’s fourth depository with a predominantly African American board of directors. “The hope is that we change lives,” said Jordan Miller Jr., who would serve as president and CEO.

Citigroup won a municipal-bond deal in Texas on Wednesday, marking its potential re-entry into a booming corner of the municipal-debt market after a new Republican state law sought to punish Wall Street banks for their gun policies.

A financial literacy and aid program from a coalition of mayors will distribute 10 monthly payments of $350 to 125 youths via the Mastercard-branded Crescent City Card.

The Minneapolis company is planning a dramatic reduction in greenhouse gas emissions from its operations and the activities it finances, matching a commitment made by many of the nation’s largest financial institutions.

Citigroup says it’s prepared to restart its public-finance business in Texas after halting the operations in the wake of a new Republican law in the state that sought to bar it and other banks from such work as punishment for restrictive gun policies.

The Pennsylvania community bank lacked the resources to go all-in on developing a diversity, equity and inclusion policy, so it turned to grad students at Georgetown University for help.

Directors can urge executives to move more quickly in gauging their institutions’ vulnerability to extreme weather events, said acting Comptroller of the Currency Michael Hsu. He offered a list of five questions every board member should ask senior leaders about their progress.

Bank of New York Mellon will sever ties with the billionaire Gautam Adani’s contentious Carmichael thermal coal mine in Australia, the latest global financial institution to distance itself from the project.

The establishment of a climate risk division at the New York State Department of Financial Services is the latest in a series of moves by state and federal banking agencies aimed at requiring regulated companies to reckon with the impacts of global warming.

The establishment of the Office of Minority and Community Development Banking comes less than two months after the agency created an investment fund to match private investors with minority-owned banks and community development financial institutions.

With today’s generation of home buyers so rooted in a digital world, how will the financial services industry need to change to meet their needs? What new consumer technology will they need to adopt to meet consumers where they are? How will those approaches differ from how things have been done historically in the industry? Join us in a discussion with Blend’s Founder, Nima Ghamsari as we chat through how banks and financial institutions need to think through these questions.

Scott Anderson, president and CEO of Zions Bank, was recently elected chair of the American Bankers Association. In an interview, he encouraged Washington to scrutinize tech giants’ moves into financial services but expressed concern about some potential implications of financial agencies’ spotlight on climate change.

The Financial Stability Oversight Council’s report on climate risk in the financial sector is a backdoor attempt to implement the Green New Deal, a Republican member of the House Financial Services Committee writes.