Investments

Bank of Montreal hired Piyush Agrawal from Citigroup as chief risk officer to succeed Patrick Cronin, who’s stepping down later this year.

The Alabama bank hopes that its new InvestPath platform, which combines automation and personal interaction, will attract first-time investors.

Citigroup may record losses of at least $50 million following a London staffer’s fat-finger trade that caused a flash crash in European stocks last month, according to people familiar with the matter.

CEO Bill Demchak said Thursday that the banking industry has become a "political football," and that lawmakers lack the "backbone" to make broader decisions on climate change and various social issues.

A challenger bank, an alternative credit score company and a proposed federal credit union are improving access to banking and lending for those who have been in prison.

There is a gaping hole in the financial system in North Minneapolis, where people are preyed upon by payday lenders and fringe bankers, according to Debra Hurston, executive director of the Association for Black Economic Power. Hurston is creating a credit union for this community to help break residents out of a cycle of exploitation and debt. But the issue is far bigger than one city, and the opportunity is one that any bank or credit union can seize.

The firms respectively settled the regulator’s allegations about suspicious activity reports and the duty of best execution — two major areas of emphasis.

HSBC Holdings has suspended executive Stuart Kirk days after he criticized the finance industry for worrying too much about climate change, according to a person familiar with the matter.

Sustainable finance activists argue in a new report that big companies are underreporting their emissions because they aren’t accounting for what banks do with their deposits. The findings add to a debate over how to measure firms’ contributions to climate change.

While red states like Florida have embraced the cryptocurrency industry, officials in New York and Illinois are taking action on Democratic Party priorities such as diversity and climate change. Here's a look at some hotbeds of innovative policymaking.