Workplace

A group of religiously affiliated shareholders that had pushed the bank to write the report says it does not include the voices of key stakeholders. The report's recommendations, written by an outside law firm, touch on workforce diversity, customer remediation and preventing retaliation against employees.

JPMorgan Chase agreed to buy Global Shares, a provider of cloud-based software for managing employee share plans, as the biggest U.S. bank scoops up firms to fend off competition.

The company rewarded Charlie Scharf after profit recovered and shares advanced more than most of its rivals last year. Still, Wells has nine public regulatory orders that remain in place, including a costly Federal Reserve-imposed asset cap.

JPMorgan Chase said it will remove a ban on hiring unvaccinated individuals starting next month, a sign that the nation’s largest bank is putting the pandemic behind it.

Thousands of staff, billions of dollars and three decades of complicated relationships. Some of the world’s largest banks are starting to pull back from Russia, but it’s not going to be easy.

JPMorgan Chase is actively unwinding its Russia business, joining Goldman Sachs Group in pulling back in response to the country’s invasion of Ukraine last month.

The syndicated loan, which was led by Citizens Trust Bank in Atlanta and Carver Federal Savings Bank in New York, marks the first time that a professional sports league has gotten a loan financed entirely by Black-owned banks. Those involved hope it starts a trend.

Goldman Sachs Group said it plans to close its operations in Russia, the first major Wall Street bank to leave in response to the nation’s invasion of Ukraine.

Citigroup, in the midst of overhauling its businesses in Russia when the country went to war, has seen efforts to sell a consumer banking unit there stall and is helping some employees transfer abroad.

Pay for the leaders of Canada’s five largest banks rose an average of 28% as the lenders’ earnings increased and shares gained.

American Express said more than 40% of its U.S. employees have opted to work remotely on a full-time basis, double the number from before the pandemic. 

The long-awaited Community Reinvestment Act reform plan is likely to address climate change and bank partnerships with nonbank lenders, while also taking into account the shrinking number of U.S. bank branches, government officials said Monday.

A portion of Goldman Sachs Group’s Russia staff is relocating out of the country as firms react to a global effort to shut off the Russian economy after the invasion of Ukraine.

As return-to-office plans accelerate — with hopes they will stick this time —  many bosses are embracing new setups and perks meant to evoke the comforts of home. At Mizuho Americas, Bank of Montreal and Deutsche Bank, the changes have gone even further: New York workers came back from the pandemic to entirely different buildings. 

Credit unions and banks need to ask themselves if they're finding ways to say "yes" to consumers who too often hear "no" from mainstream institutions. Otherwise, they perpetuate a system that excludes the poor and people of color and drive them toward nonbanks, said Pablo DeFilippi of Inclusiv Network and other experts.

Deutsche Bank is conducting an internal probe into the extent to which staff used private messaging channels such as WhatsApp, amid a crackdown from U.S. regulators on banks that fail to store business-related communication. 

Citigroup said it’s helping some of its workers in Ukraine seek refuge in Poland and sending advances on pay to help them contend with the Russian invasion.

Just a few years ago, there was no organization for LGBTQ credit union executives and employees, nor was there anyone openly out on the stages of credit union conferences — until Linda Bodie, CEO of Element Federal Credit Union in West Virginia, asked them to make themselves known.

New research shows that young Americans are finding it increasingly difficult to buy a home of their own. The co-author of a series of reports will delve into discoveries around the factors why.

Consumers are expected to be their own chief financial officers, and students should be formally prepared for the job like any professional. Banks can support such education programs and reward those who complete them.