Work from home

Allowing employees to work from home until the holiday will give Amex the chance to monitor the speed with which vaccines are distributed, CEO Stephen Squeri said in a memo to workers.

Bankers including Mary Erdoes of JPMorgan Chase and Barclays CEO Jes Staley say working from home is at risk of not working anymore.

The San Francisco-based bank will keep most employees working from home for at least a month longer than last announced.

Millions of workers are still displaced from offices, pushing financial services designed for the trend, such as Barclaycard Payments' Precisionpay Go app for businesses to issue virtual cards for corporate expenses.

Deutsche Bank is considering moving some of its 4,600 Manhattan staff to other hub cities across the U.S., but there are no concrete plans as yet.

Citigroup’s Michael Corbat said he’s worried about potential long-term negative effects after many of his employees spent the vast majority of 2020 working from home.

With COVID-19 cases soaring, a growing number of banks, including JPMorgan Chase, U.S. Bancorp and Capital One, have pushed back target dates for bringing employees back to offices. Some are even allowing them to work from home indefinitely.

Some workers have thrived while working remotely, but others miss the social interaction of an office, and the recent surge in coronavirus diagnoses means employers will be facing these challenges well into next year.

Financial institutions are using behavioral analytics, imposing tighter controls and taking other steps to prevent employee-caused security lapses.

Corporate breaches facilitated by employees — often accidentally — rose significantly this year, and banks have been particularly hard hit. Here's why.