News Topic: BankThink

Citi CEO says staff will be required in the office only three days a week after the pandemic; the company was allegedly involved in a plan to trick U.S. banks into processing marijuana sales. ]] ... Read full article

Wells Fargo, disposing of units to simplify operations, agreed to sell its corporate trust business to Australia’s Computershare Ltd. for $750 million. ]] ... Read full article

Some institutions have experimented with cash-based rewards to kick-start membership growth, but it's unclear whether the strategy will be widely adopted. ]] ... Read full article

The $235 million acquisition will bring CEO Jared Wolff's company a trove of cheap deposits and the chance to slash costs without having to significantly change its business model. ]] ... Read full article

Free investment education and testing for risk tolerance are among the ways financial firms can better reach underserved consumers, former SEC chief Jay Clayton and Operation HOPE’s John Hope Bryant say. ]] ... Read full article

The company agreed to buy Legacy Bank of Florida for $102 million. ]] ... Read full article

Bank of America, Wells Fargo and JPMorgan Chase also received high marks for transparency in reporting how they are paying women and employees of color, but Goldman Sachs, KeyCorp and Citizens Financial Group still have work to do, according to the ... Read full article

Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state. ]] ... Read full article

CUNA Mutual Group's latest Credit Union Trends Report shows consumers continue to deleverage thanks to stimulus payments and cash-out refinancing, though membership picked up slightly. ]] ... Read full article

Top officials at the U.S. central bank and Treasury Secretary Janet Yellen reaffirmed their commitment to understand how extreme weather events affect financial institutions and the economy as a whole. Many Republicans, however, worry the Federal ... Read full article

The agency's plan would strengthen requirements that banks use a minimum amount of their real estate for the business of banking, but three grade groups say banks need flexibility in the pandemic to manage occupancy. ]] ... Read full article

Paul Marsh resigned as president and CEO of the South Bend, Ind., credit union on Tuesday after 30 years there. An interim chief has been named and the board is searching for a permanent successor. ]] ... Read full article

Non-fungible tokens are taking the digital world by storm. They could displace traditional payment rails, but they could also be a handy tool for cybercrooks. ]] ... Read full article

The New York company is seeding savings accounts offered by the challenger bank Goalsetter as a way to help minority communities as well as use technology to start building long-term relationships with young consumers. ]] ... Read full article

Goldman Sachs Group didn’t use discriminatory practices when deciding whether to extend credit to prospective customers of its Apple Card, said the New York State Department of Financial Services. ]] ... Read full article

Citigroup Chief Executive Jane Fraser has barred internal video calls on Fridays and encouraged vacations in an effort to combat workplace malaise brought on by the coronavirus pandemic. ]] ... Read full article

Almost $2 trillion of debt pegged to dollar Libor, much of which can’t easily be shifted to an alternative benchmark, won’t mature until after the discredited rate expires in mid-2023, according to the Federal Reserve-backed group guiding the transition. ... Read full article

Lawyers defending two men accused of defrauding banks into processing pot purchases said banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and debit cards to buy marijuana online. ]] ... Read full article