Workplace

Kaua'i Federal Credit Union in Lihue is launching an "economic resiliency center" for members in the Kapa'a community. It hopes to support minority-owned businesses throughout the area by providing access to housing resources and other funding.

Goldman Sachs Group is in talks to settle a high-profile lawsuit alleging gender pay disparity, ahead of going to trial next month, according to people with knowledge of the matter.

Metropolitan Bank Holding is rescinding a $7.5 million loan it made to its CEO, and canceling a stock purchase he used the proceeds to fund, after determining that the loan was likely impermissible.

Investment in the latest technology is crucial for banks and credit unions if they are to compete effectively, while the lack of tech talent continues to be an issue.

The Minneapolis bank has launched a special-purpose credit program that aims to help businesses owned by women, minorities and veterans. Borrowers with comparatively low credit scores and cash flows will qualify for lending products of up to $2.5 million.

A resolution calling for the San Francisco-based bank to adopt and disclose a formal policy supporting collective bargaining rights failed to receive a majority of shareholder votes at the company's annual meeting.

Joe Evica, who has been employed with the Wisconsin-based insurance firm since March 2019, was terminated on April 4 for allegedly violating company policies.

Prosecutors claim every dollar in subsidy funds from settlements equates to ten times the amount in value in home lending efforts.

Texas National Bank in Mercedes, Texas, is testing how alternative data can improve the speed and accuracy with which it lends to its small-business customers.

The regional firm, whose parent is the 10th largest bank in the world by market capitalization, is eager to pitch top advisors seeking stability. At the same time, it's ramping up a major branding campaign with Major League Soccer and Apple to woo next-generation clients.

The Dallas-based bank, whose shares have slumped 19% this year, laid off the staff last week, according to a spokesperson.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.

Startups were left reeling after SVB's failure. But there are challenges to serving young companies.

The city held a community vigil two days after a bank employee opened fire in a downtown branch. One of the speakers was Whitney Austin, a Louisville resident who survived a mass shooting at Fifth Third Bancorp's headquarters in 2018.

"Our leaders ... have to be visible on the floor, they must meet with clients, they need to teach and advise, and they should always be accessible for immediate feedback and impromptu meetings," the company's operating committee said in a memo to employees.

Minority depository institutions are well-placed to direct money from the Greenhouse Gas Reduction Fund to high-impact projects in underserved communities.

Police identified the gunman as Connor Sturgeon, a bank employee who used a rifle to kill four people inside the bank. He was later killed by police, according to the authorities.