Raymond, the former Exxon Mobil boss who has been on the bank's board for more than three decades, notified JPMorgan Chase of his intention to resign effective Dec. 31, according to a regulatory filing. ... Read full article
Moore led development of Bank of America's virtual assistant, Erica, and was American Banker's Digital Banker of the Year in 2017. ... Read full article
Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies. ... Read full article
The Swiss charges follow several recent scandals at the bank; the filing by the largest cryptocurrency exchange follows by one day bitcoin climbing past a record $21,000. ... Read full article
While banks are reporting steady declines in deferrals, hard-hit borrowers such as airlines, commercial real estate developers and hotel operators will almost certainly struggle to regain their footing. ... Read full article
Starting in 2022, hundreds of newly eligible institutions will be able to raise funds from investors. Bankers argued that the change will further blur the line between the two industries. ... Read full article
President and Chief Operating Officer Kevin Blair will take the helm in April at the company’s annual shareholders meeting while Kessel Stelling will transition to a new role as executive chairman. ... Read full article
The agency said it may exempt certain institutions from having to file suspicious activity reports if they have “innovative solutions intended to meet Bank Secrecy Act requirements more efficiently and effectively." But in those circumstances, law ... Read full article
Incoming administration officials, especially Treasury Secretary-designate Janet Yellen, are expected to push for stress tests, public disclosures and other requirements aimed at gauging banks' climate exposure and minimizing the threat of global ... Read full article
dd ... Read full article
Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift. ... Read full article
The latest monthly Trends Report from CUNA Mutual Group showed October's year-over-year membership growth rate was the slowest since the fall of 2014. ... Read full article
The Federal Reserve has already agreed to shut down emergency credit programs funded by the Coronavirus Aid, Relief and Economic Security Act, but Sen. Pat Toomey, R-Pa., and others want Congress to ensure the central bank cannot revive them. ... Read full article
Credit union trade groups said the regulator’s spending plan indicates the agency isn't listening to feedback and needs to make further cuts while providing more support for de novos. ... Read full article
The San Francisco-based bank will keep most employees working from home for at least a month longer than last announced. ... Read full article
The proposal builds on guidance that the agency gave to Fannie Mae and Freddie Mac earlier this year. ... Read full article
The company adds to a growing list of banks shutting branches to invest in technology offerings. ... Read full article
The Detroit automaker says it will stick to car loans and steer clear of mortgage lending if regulators approve its application to establish an industrial bank. ... Read full article
The digital currency soared another 9% Wednesday, climbing past $21,000; the bank made the first move on the asset manager, won by Morgan Stanley, and eventually offered more money. ... Read full article
First Technology FCU, led by a former banker, stands ready to raise fresh capital by issuing subordinated debt. But first it must wait for a rule change from the National Credit Union Administration that's drawing fierce opposition from the banking ... Read full article
