In a long and storied career, Barbara Desoer has helped shape two of the largest banks in the country, Bank of America and Citibank. The most striking detail? Her biggest role came after she 'retired.'
She turned around troubled business units, rebounded after a demotion and beat cancer. Now Bank of America’s chief operations and technology officer is taking on her biggest challenge yet: ensuring AI is used responsibly.
The once-acquisitive company is not interested in a "roll-up strategy" in Texas's biggest city, said CEO Phil Green. In a Q&A, he also explained why loan competition is intensifying and what's really keeping business customers up at night.
Cathy Bessant, Bank of America's chief operations officer and American Banker's Most Powerful Woman in Banking, has undertaken major initiatives outside her institution, including a focus on responsible AI.
The consumer agency is investigating Bank of America over “potentially unauthorized” accounts; why fintech rollouts are magnets for fraud; KeyCorp’s Beth Mooney to retire next year; and more from this week’s most-read stories.
There were signs Kathy Kraninger would continue a rollback of consent orders and investigations, but many observers see an aggressive approach reminiscent of the Obama era.
During a probe that grew out of the Wells Fargo scandal, the Charlotte-based bank has acknowledged instances of "potentially unauthorized" accounts, but said that the number of examples was "vanishingly small."
Giants like Facebook, JPMorgan Chase and Walmart are all pushing blockchain for myriad use cases, and now Wells Fargo has joined the fray with its own spin on the distributed ledger technology.
The FDIC's latest report on deposit market share shows the nation's seven biggest banks flexing their muscles, while smaller banks' market share gets smaller.
