Workplace

Comun is one of several emerging neobanks specifically for Latino immigrants to the United States, but it has a distinctive feature: The default language is Spanish.

After deep job cuts, the bank plans to focus on cutting costs this year, CEO says.

For Members Only Federal Credit Union in Chicago, which was founded by the African American sorority Alpha Kappa Alpha, is focused on helping members build generational wealth.

Banks that previously based more of their incentive compensation decisions on loan production are recalibrating this year. It is the latest sign of how competitive the deposit market has gotten.

Goldman Sachs, Capital One and New York Community Bank are shrinking their workforces, and other banks are planning to do the same. Whether such reductions become more widespread will depend largely on loan demand in 2023, according to analysts.

The bank was already mulling headcount and compensation reductions in early September.

A fraught but often-overlooked episode near the end of the retired baseball legend's life carries lessons and inspiration for financial professionals.

Ivan Diaz, a former member service representative who led the unionization campaign for staff of the South Division Avenue branch last year, was fired on Feb. 1. He alleges his role in the campaign is the true cause of his dismissal.

The bank's delay in investigating the case forced the plaintiff to resign from the bank in July 2021, according to the complaint. Wells said that it takes allegations of misconduct "very seriously."

Visa is opening a new office in Atlanta as the payments giant proceeds with plans to triple its workforce in the city even as rivals cut back on their staffing.

Truist Financial eliminated about 5% of its investment banking division amid uncertainty surrounding the dealmaking environment, according to people with knowledge with the matter.

Toronto-based BMO Financial is increasing the minimum wage of all U.S. hourly employees as the company begins its absorption of the recently acquired Bank of the West.

Carlyle Group chose former Goldman Sachs Group Co-President Harvey Schwartz to be its next chief executive as the private equity firm looks to move past a long-running succession challenge.

Bank of America Chief Executive Brian Moynihan's total compensation declined 6.3% to $30 million for his work in 2022, a year in which profit tumbled and the shares sank.

Stripe Chief Financial Officer Dhivya Suryadevara is planning to leave the firm to attend to family matters as the company continues to weigh options for raising liquidity.

The minority depository institution largely caters to Mexicans in the U.S. Their trust in smartphones and distrust of traditional banking has influenced its approach to developing digital tools.

Fidelity National Information Services has so far eliminated 2,600 staffers as new Chief Executive Stephanie Ferris continues her strategic review of the financial-technology giant's business.

Deutsche Bank is preparing further job cuts to keep costs in check, with the focus likely to be areas outside the trading unit.

The San Mateo, California-based online consumer lender has now laid off some 500 employees in recent months. The downsizing reflects broader challenges in the tech industry, but it also comes as Upstart struggles to get enough funding for its loans.

Gemini Trust, the crypto exchange run by the Winklevoss brothers, hired a fintech veteran as new head of finance even as it undergoes another round of layoffs and deals with uncertainty over whether users of its Earn program will get their money back.