After investment banking fees fell by 54% last quarter, the nation's largest bank by assets is considering cutting back. "Last year, we had to add a lot of bodies just to execute the huge amount of volume we were executing," Chief Operating Officer Daniel Pinto said Tuesday.

Protego Trust Bank in Seattle, a bank in formation with plans to open this year, named financial technology veteran Ron Totaro its first chief executive.

While the total number is less than some previous rounds, the reductions are a resumption of Goldman's annual culling cycle that it had largely paused during the pandemic, according to people with knowledge of the matter.

The Biden administration's Property Appraisal and Valuation Equity Task Force is working to eliminate race-based bias in the assessment of home values.

By offering financial education through local crisis centers and community groups — and following through with access to credit — many credit unions are building trust with people who had been wary of working with mainstream institutions.

The average turnover rate has risen to 23% this year from about 16% in 2021, according to a Crowe Global survey of more than 400 banks. Raises and more generous benefits aren't enough to keep workers, the firm warns.

Financial downturns hit lower-wealth communities first and cause them to suffer the longest.

Earlier this year, canvassers visited branches in five California counties to ask about account options. Some 37% of those who spoke Spanish were unable to talk to a banker, compared with 15% of English speakers, according to a report by the Roosevelt Institute.

Community development financial institutions that are led by people of color will receive the capital, which is being distributed through the National Alliance of Latino CDFI Executives and the African American Alliance of CDFI CEOs, according to BofA.

Bosses are expecting workers to finally start showing up regularly at Manhattan offices that have been sparsely populated for more than two years.

The plans will be based on feedback the company got from staff surveys on the topic, Bank of America Chief Executive Brian Moynihan said Tuesday.

Citigroup is seeking 400 more staff for its Belfast office as it expands rapidly outside of London, according to a senior executive at the bank.

Citigroup joined rivals in trimming the ranks of its mortgage workforce as rising interest rates continue to crimp demand in the housing market. 

The bank is looking to educate — and potentially hire — a new generation of tech experts by working with New Jersey's Liberty Science Center and two local high schools in areas where students are at higher risk of not graduating.

Executives at Canadian Imperial Bank of Commerce's London office kept a book full of "sexually suggestive comments" about women for a decade, in the latest employment tribunal case to shine a light on banking's sexist culture. 

Jefferies Financial Group asked staffers to come back to the office on a more consistent basis as it looks to work through its investment banking backlog in the coming months.

Zepz Group, the U.K. financial technology startup and parent of the payments company WorldRemit, has named Mark Lenhard as its new chief executive, replacing Breon Corcoran.

The institution took the lead spot in American Banker's annual ranking of Best Credit Unions to Work For in part by giving employees freedom and flexibility in how they do their jobs.

Goldman Sachs Group is tapping the former No. 2 official at the International Monetary Fund and veteran of the Trump administration's trade wars with China to strengthen its ties with international governments.

Two of Wall Street's most prominent investment banks are removing some of the final hurdles to fully returning to offices following the COVID-19 pandemic.