BMO Harris Bank in Chicago recently became the first financial institution to offer a Mastercard that allows transgender and nonbinary people to use their preferred names. Members of that community often experience disproportionate financial hardship, in part because of employment discrimination.
Last year, CEO Darryl White said his goal was for U.S. operations to account for one-third of the bank's earnings in three to five years. It was a matter of months before the goal was reached.
The Canadian parent of BMO Harris Bank in Chicago has named Johannson group head of North American personal banking, an extension of similar executive duties she holds in the U.S.
Regions Financial said Thursday that it will not renew its contract with GreenSky — a move analysts say could prompt other banks to re-examine their lending arrangements with the fintech.
The Chicago bank's new partnership with AutoGravity mirrors others struck this year by JPMorgan Chase and U.S. Bank with providers of mobile apps that bundle the car-buying and lending processes.
The Atlanta-based consumer lender, which partners with both retailers and banks, cited a higher-than-expected cost of funds as one reason for its less rosy forecast.
