Practice management

The Securities and Exchange Commission is facing a legal challenge from groups that argue rules meant to diversify the boards of banks and other publicly traded companies amount to discrimination.

Verifying the identity of a business is a much more complex task than verifying the identity of an individual, yet the underlying technology used in both is the same.

The agency issued an interpretive rule earlier this month that said digital marketers must comply with federal consumer financial protection law. Banks will need to double down on compliance when engaging with these companies.

The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.

Goldman Sachs Group is reconsidering how to launch a long-delayed product for the masses as senior executives wrestle with cost overruns.

Neal Holland, who has been serving as MUFG Union Bank's chief financial officer, will assume the same role at First Republic. It is the latest in a series of recent changes in the San Francisco bank's leadership ranks.

Credit Suisse Group is shifting resources in the pursuit of business from a broader range of rich clients, as the lender focuses more on wealth management amid cuts to its troubled investment bank. 

Conversations with about a dozen Credit Suisse dealmakers, traders, financiers and wealth advisors depict a unit girded for a reckoning.

The billionaire founder of Paytm emerged unscathed in a crucial test of investor confidence, with a forceful majority of shareholders voting to keep him at the helm of the fintech pioneer that made one of the worst market debuts in Indian history.

Younger and more diverse leaders may better represent the local community. But bringing new people into the board room requires persistent and targeted outreach.

Matt Damon's pitch to invest in crypto has disappeared from U.S. television sets. Same goes for glitzy commercials starring LeBron James and Tom Brady.

Jonathan W. Roberts will transition from his roles with Webster Bank in Connecticut to lead the credit union on Sept. 19.

Jeff Fielder will succeed longtime president and chief executive Cheryl DeBoer on Oct. 1.

Financial institutions have a solid track record of keeping customers for the long haul, but technology firms, fintechs and challenger banks are gaining ground on the incumbents.

More than 250 midsize and large companies that do business with BofA have signed up for its corporate employee banking and investing program, which pulls double duty as a retention tool for the companies and a customer-growth engine for the bank. The initiative is part of a wave of such offerings by regional and large banks.

Websites such as Credit Karma and LendingTree, which work closely with financial institutions, have had to rethink their strategies to bounce back from the pandemic.

The Chicago-based company, which is the league's exclusive credit card sponsor, sees soccer's young, diverse fan base as a fit for its below-prime products.

Chuck Albrecht announced his plans to step down in March of 2023, concluding a more than 20-year tenure as president and chief executive.