BankThink

Citi is beefing up leadership in its consumer card lending operations by recruiting Chase exec Pam Habner — credited with engineering the success of Chase’s Sapphire Reserve card — and former Citi exec Chris Fred, who will return after several months running the Apple Card business at Goldman Sachs.

The bank has asked managers review job postings and pull listings for roles that don’t need to be filled immediately, according to people familiar with the matter.

The legislation sponsored by Sen. Sherrod Brown, an Ohio Democrat, would require banks to offer the accounts so that consumers could easily access cornonavirus relief funds without turning to high-cost check cashers.

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all.