Workplace

JPMorgan Chase agreed to settle a dispute with a London trader it fired during a spoofing probe and then refused to rehire after a judge said the investment bank had to give him his job back.

It came as a surprise to many housing experts that Asian, Black and Hispanic homeownership rates all jumped last year by more than 2 percentage points, according to quarterly Census Bureau data.

Renée Sattiewhite has played a key role in the African American Credit Union Coalition for more than 20 years. "For me, if credit unions do not embrace DEI, they will die," she said.

In its inaugural Most Powerful Women in Credit Unions listing, American Banker is proud to share the stories of 25 of the women leading the credit union industry through times of rapid and unprecedented change.

Credit Suisse Group is planning a fresh round of job cuts at the global wealth management business starting next week, adding to dismissals that already started at the investment bank, according to people familiar with the matter.

When credit union leaders are open to feedback from members and employees of many backgrounds, they can strengthen workplace morale and attract new customers, inclusion advocates say.

New York City's new pay-transparency law has a blind spot: Wall Street bonuses.

Polyanna Unruh embraced her employer's tuition-assistance benefit to go from high-school graduate to MBA.

Stripe, one of the world's most valuable startups, will cut more than 1,000 jobs as it seeks to rein in costs ahead of any economic downturn.

The online consumer lender has told about 140 employees who process loan applications that it is eliminating their positions. The job cuts come as Upstart struggles to get banks and other investors interested in buying enough of its loans.

The cryptocurrency conglomerate Digital Currency Group promoted Mark Murphy to president from chief operating officer as part of a restructuring that saw about 10 employees exit the company.

FDIC data shows an uptick in the number of Americans with access to basic banking services. That momentum has to continue.

Kristy Fercho, who's run the bank's home lending division since August 2020, will report directly to CEO Charlie Scharf and sit on the operating committee. Last year, she became the first Black person to chair the Mortgage Bankers Association, and she took the top spot in American Banker's Most Powerful Women to Watch this year.

Bank of America has told its global markets employees that they're required to be in the office almost every day as the Wall Street firm seeks to restore some of the culture that prevailed before the pandemic.

Wage transparency is seen as being particularly important for women, who are often paid less and could benefit from information that helps them negotiate higher salaries.

Almost 70% of bank chief executives surveyed by KPMG said they envision fully in-office working environments within the next three years. That is close to double the average of other white-collar industries.

During a panel discussion at American Banker's Most Powerful Women in Banking conference, three executives spoke about how mentors helped shape their own careers, and how they continue to provide a pipeline for future generations of senior leaders.

JPMorgan Chase is building out teams that handle card transactions and other payments for businesses by recruiting staff across key Asian markets amid the boom in digital commerce.