Practice and client management

Tyrie has advanced Bank of America’s virtual assistant Erica and rolled out easier-to-use digital products that resonate strongly with customers. Those achievements have earned him recognition as one of American Banker’s digital bankers of the year.

Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected.

Patricia Sarne was named CEO of San Antonio Citizens Federal Credit Union after former chief executive Tim Baldwin retired.

Periods of significant loan defaults are tough on banks and force unpleasant choices. Here are steps to evaluate collateral in such uncertain times.

Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to heed the $1.95 trillion growth ceiling set by regulators in the aftermath of its phony-accounts scandal.

The takeaway from the PPP rollout is that bankers must protect their reputations and limit their risk appetites as they participate in further government-backed rescue programs.

Stu Lubow, who succeeded Kenneth Mahon, gained more responsibilities. Mahon remains Dime's CEO.

Banks would be wise to dust off their Great Recession playbook and shed nonperforming loans while growing through M&A.

Expenses soared in the rush to deploy emergency loans to small businesses, and now Bank of America may need to delay some investments if it hopes to meet cost targets, CEO Brian Moynihan said.

The company will incur an upfront fee but will save $7 million a year by walking away from a deal with the Los Angeles Football Club.

At least four pending deals have been canceled since the economy was locked down to slow the pandemic's spread. With banks' market values falling and loan-loss provisions piling up, more terminations are likely.

Credit unions need a clear strategy if they hope to break through to consumers already overwhelmed by the coronavirus.

Texas Capital also said that Keith Cargill has stepped down as president and CEO.

The industry is well positioned to gain market share, but institutions may not see the same levels of growth as after the last recession.

Demand has soared for mental health services as bank employees put in long hours, supervise kids while working at home and endure personal crises. Citi, BofA, Fifth Third and others are getting creative to help them decompress during the pandemic.

The pandemic has already shown the importance of a robust tech platform for credit unions and that's only going to increase as things return to normal.

Some lenders are issuing debt and preferred stock to provide an extra buffer for credit losses. Others are preparing for growth opportunities.

With the pandemic fueling anxiety about public transportation and dense urban offices, financial firms in Manhattan are looking elsewhere for space to let workers spread out and avoid commuting into the city.

The Ohio company said the decision reflects branch overlap and lower customer usage of the locations being shuttered.

Some staff will be sitting at different desks, and in some cases different floors, when they return to work, according to the memo sent to employees Wednesday.