Workplace

Robert Goscicki has stepped down as president and CEO of Area Federal Credit Union in Aberdeen.

Citadel Credit Union, armed with a team of professionals who previously worked at Santander Bank, plans to hold its own in a commercial lending market dominated by PNC Financial Services Group, Bank of America and Wells Fargo.

The HSBC Holdings executive at the center of a row over climate change risks has resigned from the bank as he issued a broadside against corporate “cancel culture.”

Truist Financial is raising the low end of its pay scale to $22 an hour, while JPMorgan Chase is implementing a floor of between $20 and $25. The wage hikes will likely put pressure on smaller banks to take similar steps to stay competitive.

Community development financial institutions will receive low-interest loans from Bank of America and use that money to fund the development of primary health care centers in communities of color and rural areas.

Barclays said it will give a £1,200 ($1,460) pay raise to 35,000 of its U.K..-based staff, the latest lender to boost wages as the cost-of-living crisis deepens.

Bank and financial services supervisors have an affirmative duty to address the deep economic divide facing minorities in the U.S.

For many credit unions, it's important to not only have underrepresented voices in the C-suite — they must also make sure others can follow a career path to the same roles.

A panel of FINRA arbitrators unanimously ordered the award against the megabank based on Erin Ann Daly’s claims of gender-based discrimination.

The New York megabank’s decision, which takes effect on July 1, emerged on the same day that the Supreme Court overturned Roe v. Wade. JPMorgan Chase is following the lead of Citigroup, which announced a similar policy at the start of the year.

Elon Musk’s demand that executives be present in the office carries an important message for bankers.

Deutsche Bank's management board agreed to take a financial hit after criticism from regulators of widespread use of private communication channels among staff via applications such as WhatsApp.

Goldman Sachs Group plans to anchor a new office tower in Dallas that would hold thousands of employees, part of the bank’s expansion beyond its Manhattan base.

JPMorgan Chase is laying off hundreds of home-lending employees and reassigning hundreds more this week as rapidly rising mortgage rates drive down demand in what had been a red-hot housing market.

Democratic senators led by Bob Menendez urged the Federal Reserve to take a more active role in the selection process of the heads of its regional banks so that more diverse candidates would be considered.

The bank’s current focus is on its Calgary innovation hub, where it’s looking to reach 300 employees by the end of next year.

OneAZ Credit Union built a vendor diversity database, based on a program from Arizona State University, to guide its spending at small businesses. It plans to allow other financial institutions to access this system as well.

The state-sponsored entity plans to launch a $250 million “community decarbonization fund” to finance electrification, energy efficiency and onsite power projects in disadvantaged communities.

Banks, fintechs, and financial institutions may have stepped up their diversity and inclusion efforts, but these industries still have a retention problem. What are the issues at play and what can be done to keep executive women in the C-Suite?

An aging workforce will likely force banks to reconsider the employees they recruit, especially for executive roles.