Workforce management

Federal prosecutors in Manhattan are investigating the bank over allegations that it conducted so-called fake interviews with nonwhite and female job applicants, The New York Times reported Thursday.

The nonprofit First Step Alliance is working to launch Diverge Federal Credit Union, which plans to offer loans to cover the costs of gender affirmation surgery for individuals and adoption for same-sex couples.

JPMorgan Chase CEO Jamie Dimon and Bank of America Vice Chairman Paul Donofrio were among the high-level executives who last year received multimillion-dollar retention payments. The awards — sometimes known as “golden handcuffs” — were driven by the most competitive job market in recent history.

CEO Bill Demchak said Thursday that the banking industry has become a "political football," and that lawmakers lack the "backbone" to make broader decisions on climate change and various social issues.

Companies on the Best Places to Work in Fintech list offer sabbaticals or generous vacation time, which helps attract young talent and lets veteran employees re-energize.

Wells Fargo, Citigroup and JPMorgan Chase were among the large banks that last year experienced net losses of high-level bankers in their corporate and commercial units, according to a new report. Bankers are leaving largely for jobs at private equity and debt funds, according to the authors.

Nearly half of all small-business owners — and higher percentages of minority entrepreneurs — said in a new survey that they aren’t sure they could come up with the funds to cover an emergency $5,000 business expense. But the results also suggest that the Paycheck Protection Program may have led to more trust in the Small Business Administration.