It would force national banks to make loans to high-risk industries that often pose dangers to vulnerable communities. The next comptroller of the currency should instead promote equal credit availability for consumers who need it most. ... Read full article
The Florida lender is the latest financial firm that said it has stopped working with former President Donald Trump. ... Read full article
Bank of America will give $750 to eligible staff who earn $100,000 or less annually, while higher-paid employees will receive a stock award, according to a memo to staff from CEO Brian Moynihan. ... Read full article
Consumer banking may do better this year, while the investment banking boom is unlikely to repeat; several prominent investors likely took losses betting on Fannie, Freddie privatization. ... Read full article
The JPMorgan Chase CEO's total compensation went unchanged at $31.5 million for his work in 2020, a year in which a global pandemic roiled the economy and caused banks to set aside billions to cover future bad loans. ... Read full article
The new administration is wasting no time assembling a team of regulatory appointees and urging agencies to pause pending rules. ... Read full article
The Connecticut company said it will take several years to shut down the locations, which are located in Stop & Shop stores. About 80% of the branches are within five miles of traditional locations. ... Read full article
The Green Bay, Wisc., company will consider both inside and outside candidates to replace Flynn, who plans to step by the end of the year. ... Read full article
Citigroup, one of the few companies to offer a frank assessment of the difference in wages it pays to men and women, has made gradual progress toward narrowing that gap. ... Read full article
Greg Carmichael said lightly regulated challenger banks pose a long-term threat to traditional banks, echoing comments JPMorgan Chase’s Jamie Dimon made last week. ... Read full article
The Cleveland company will launch the service in March to broaden relationships its Laurel Road student loan refinancing unit has built with health care professionals. ... Read full article
The bank's nonaccrual loans have been soaring as the pandemic continues to roil the hospitality sector. M&T executives said they've been working with borrowers to keep them out of foreclosure. ... Read full article
Liang, a senior fellow at the Brookings Institution, would take a position that has been vacant since 2014. ... Read full article
Consumers have largely kept up with their payments during the pandemic, but Discover chief Roger Hochschild says he expects defaults to rise as structural changes in the economy lead to more layoffs of white-collar workers. ... Read full article
The investments, part of a post-merger effort to wring out more profits, include new commercial and mortgage lending platforms. ... Read full article
Southern Bancorp, which recently raised $35 million in capital, agreed to acquire DeWitt First Bankshares, the parent of Arkansas County Bank. ... Read full article
Michael Barr helped write the 2010 Dodd-Frank Act while serving under Treasury Secretary Timothy Geithner. ... Read full article
Dave Uejio, who served as chief of staff to ex-Director Richard Cordray, was named by the Biden administration to lead the Consumer Financial Protection Bureau until the Senate confirms Rohit Chopra for the permanent job. ... Read full article
Sandy Spring Bancorp also plans to shrink its network as more customers move to digital channels. ... Read full article
The fast-growing buy now/pay later industry is drawing scrutiny from legislators and regulators who fear it could become predatory. ... Read full article
