Workplace

With tricked-out conference rooms, online career development tools and blocks of time for chitchat, Ally and Citizens are strengthening connections between colleagues during phased returns to the office.

The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.

The agency organized a vehicle seeded with $120 million from anchor investors — including Truist and Microsoft — enabling minority-owned banks and community development financial institutions to seek capital for development projects in underserved areas.

Credit unions expanded perks and benefits for workers whose personal lives and jobs were rocked by the pandemic. The added costs are bearable and will be necessary to keep employees over the long term, executives say.

The Chicago City Council approved a measure to boost transparency around the lending practices of the city’s banks and help address homeownership disparities in the nation’s third most-populous city.

In a recent securitization with Capital One, RBC Capital Markets gave a bigger role to small firms owned by minorities and women. It’s one example of how banks are striving to be more inclusive.

Some are taking extra measures, such as forming panels with minority representation to interview job candidates, to ensure that their recruitment practices don't exclude underrepresented groups.

King, who helped build BB&T into a regional powerhouse before engineering its merger with rival SunTrust, will retire as CEO of Truist on Sunday. In an interview, he spoke about the importance of cultural fit in M&A, his own legacy and what he wants to do next.

Hopes that the pandemic has been curbed have dimmed as infections and hospitalizations are on the rise again due to the introduction of the extremely dangerous Delta strain. For some companies, this has disrupted their plans to bring remote employees back to their offices or institute a "hybrid" arrangement.

The Dallas bank unveiled an initiative that involves doubling its client-facing headcount across the Lone Star State and expanding its investment banking division. But its stock price plunged amid concerns about how long it will take to deliver returns for investors.

“As the CEO of one of America’s largest banks, Richard Fairbank repeatedly broke the law,” the acting director of the FTC’s Bureau of Competition said.

The company will now begin bringing back staffers who have been working remotely on Oct. 18, rather than Oct. 4, according to an internal memo Wednesday from Chief Operating Officer Scott Powell.

From vaccine mandates to mask requirements, banks are being forced to make difficult decisions in response to fast-changing conditions. Here's a look at where 14 large and midsize companies have landed — at least for now.

Compensation needs to be competitive, of course, but employees also need to feel appreciated. In a challenging labor market, here’s how banks can retain their best workers and keep them motivated.

PNC Financial Services Group said it will raise its hourly minimum wage to $18 an hour from $15, joining the ranks of firms increasing pay amid labor shortages.

The more stringent safety measures, announced to staff on Tuesday, signal escalating caution at Goldman, which greeted the return of employees in June with live music and food trucks.

An opponent of affirmative action is challenging the U.S. Securities and Exchange Commission’s approval of a rule to get more women and minorities on the boards of companies trading on Nasdaq.

The new standards give some 300 listed banks up to five years to meet targets for including women and minorities on their boards, or explain why they aren't doing so. State officials and investors had already pushed banks about the need to rethink their approaches to recruiting directors.

The Boston-based firm plans to close its two midtown Manhattan offices, the company said. Its New York-based staff will work remotely or from buildings in New Jersey and Connecticut.

M&T in New York, which is seeking regulatory approval to buy People’s United Financial, recently disclosed plans for around 1,000 layoffs. The backlash — focused on job cuts in the seller’s hometown of Bridgeport — has been stronger than in other recent deals.