They aren't creating new products, but some lenders are advising cash-strapped customers in high-tax states to tap home equity or other credit lines to prepay property taxes before the new tax law kicks in. ... Read full article
The reduction is “primarily” from a lower value of net deferred tax assets, the bank said in a securities filing Friday, the same day President Trump signed the legislation. ... Read full article
Bank of America, PNC join a growing list of banks planning to use the anticipated savings from the reduction in the corporate tax rate to boost wages for employees. ... Read full article
A new U.K. rule requiring firms to disclose their pay practices, combined with the increased attention on women's workplace issues in general, is forcing banks and other companies to be more forthcoming about what they are paying female employees. ... Read full article
The Federal Reserve and Federal Deposit Insurance Corp. identified shortcomings with the living wills of Wells Fargo, Bank of America, Goldman Sachs and Morgan Stanley, even as they gave them and the remainder of the eight biggest banks a pass. ... Read full article
Bank of America Corp. told investment bank employees they'll soon be able to take off up to an additional six weeks in a year — with pay. ... Read full article
Maria Zuber, who oversees research administration and policy at MIT, has been appointed to the board's enterprise risk and corporate governance committees. ... Read full article
It’s only early December, but bank CEOs’ comments this week about tax reform, their thirst for deposits, consumer lending initiatives, and challenges in commercial lending offer a sneak peek at what’s coming when earnings season begins next month. ... Read full article
The Office of Financial Research said the failure of a large financial institution could still ignite a crisis; hotel chain plans to use both issuers for its credit cards. ... Read full article
America’s largest lenders made an epic mistake a decade ago when they cashed out of Visa and Mastercard through initial public offerings, says Chenault, who will step down in February as CEO of American Express. ... Read full article
The business faces a difficult comparison to last year, when activity spiked after Donald Trump’s surprising presidential election win, executives at the companies said. ... Read full article
Virtual assistants at banks in Israel, Canada and Hong Kong are getting smarter thanks to artificial intelligence. ... Read full article
A U.S. alcohol maker's $191 million investment in Canadian cannabis could raise difficult questions for the banks that have lent big sums of money to the company. ... Read full article
Banks would be big winners if Congress slashes corporate tax rates and they will have no shortage of options for deploying all that extra cash. ... Read full article
Lisa Cochran and Yasaman Hadjibashi bolster tech leadership in Citigroup's global bank operations. ... Read full article
TruSight will assess, validate and monitor vendors on behalf of the consortium, which is expected to expand. ... Read full article
While the Bank of America chief says he is encouraged by progress on tax reform, he cautioned that it remains politically and fiscally tough to accomplish, and that the wrong moves on immigration could offset some of the gains from tax cuts. ... Read full article
As the banking industry moves closer to adopting a faster payments system, bank executives have begun to think through the impact it will have on clients and banks themselves. ... Read full article
Mobile banking, oddly enough, is redefining the role of call center agents as customers handle routine tasks on their smartphones and reach out for help with bigger-picture questions. ... Read full article
Andreas Bubenzer-Paim previously held a technology role at Bank of America. ... Read full article
