Practice and client management

A new public-private network is pursuing a more comprehensive approach than other states to cultivate a strong financial technology industry by uniting banks, insurance companies, startups, government agencies, investors, universities and students.

The four largest U.S. banks face investor pressure to deliver the returns of smaller rivals, but they complain that the federal deposit cap and capital rules make that difficult. So they're pouring money into wealth management, payments and digital banking to seize more market share in existing businesses and fend off nonbank challengers.

The San Francisco company has promoted or hired several bankers to steer growth in retail and commercial banking operations just months after completing its purchase of Radius.

The efforts to bolster risk controls and simplify global operations will ultimately lead to better shareholder returns, Jane Fraser said, while urging investors to show patience.

On customer satisfaction and trust, traditional banks scored higher than upstarts in a new study of consumers who took out personal loans.

2020 was a challenging year for banks. The impact of COVID on the economy as well as changes to accounting for loan loss provisions were evident in weaker financial and stock price performance in 2020 for many banks and yet CEO compensation increased. Learn from experienced executive compensation consultants about the challenges Compensation Committees faced in 2020, why pay levels increased relative to 2019, what were common COVID-related compensation changes, and what changes were made for 2021 incentive plan design.

Scams in which a real person’s information is used to create fictitious businesses or individuals have led to $6 billion in credit losses. The Federal Reserve has developed a standard definition for synthetic identity fraud so lenders can distinguish it from traditional identity theft.

The regional bank wanted to make more timely and relevant offers to its customers, especially in the realm of online and mobile banking. It worked with several vendors on a system to analyze customers’ activity and push out personalized recommendations.

High-tech videoconferencing is no replacement for high-touch in-person meetings. Yet some bank directors who are vaccinated remain hesitant to return to boardrooms.

The store-branded credit card issuer is expanding from three sales divisions to five, a move that CEO Brian Doubles says will help by “aligning our organization for faster growth and execution.”

Government records detail dozens of complaints from company staffers related to COVID-19. The documents shed light not only on safety protocols at the nation’s fourth-largest bank, but also on employee relations at a firm that’s been dogged by scandal.

Sarah Dahlgren, who joined the scandal-plagued company in 2018, is departing of her own accord, according to a spokesman.

GreenState Credit Union's agreements to buy community banks in Illinois and Nebraska renewed the debate over whether federal tax exemption gives credit unions an unfair competitive advantage.

Sherry Cornell, who has led the Ashtabula, Ohio, credit union since 2002, is stepping down next month.

Despite concerns about the scope of information that companies would have to provide about risks linked to climate change, some of the largest institutions are seeking to collaborate with the agency as it develops a framework for informing investors.

Last year, many banks made big, splashy pledges to advance racial equity. Now some of those banks are seeking to hold executives accountable for those efforts through their paychecks.

Cypress Trust in Palm Beach is poised to pull off a rarity: the conversion of a wealth management firm into a community bank. It’s simply another way to take advantage of the ongoing melding of the two financial services sectors, CEO Dana Kilborne says.

The pandemic was certainly a factor, but the Mississippi company says its decision to concentrate interactive teller machines in drive-through lanes and retrain employees who appear on-screen made a big — and potentially lasting — difference.

The investment in Finitive is one of a number of technology agreements that the commercial lender has struck recently in an effort to broaden its reach.

Charlotte Cash will step down from CommonWealth One Federal Credit Union in Alexandria, Virginia, and Glenna Jarvis plans to leave her position at Missouri Central Credit Union in Lees Summit.