The New York bank says it acted appropriately in withholding the collateral on a loan to a developer that First Foundation Bank later refinanced. First Foundation’s CEO begs to differ.
The bank may end its venture with First Data to work on its own; State Street and BNY Mellon's fee revenue from investor clients and stock prices are down.
Bank of America investors on Wednesday voted against pressing the company to disclose more insightful data about disparities between men's and women's salaries. Shareholders at Wells and Bank of New York Mellon recently rejected similar measures.
Bank of New York Mellon's clients shifted more of their deposits to higher-rate products. It was one of several trends that hurt the custody bank's bottom line.
The bank had told employees in November that it was reviewing their ability to work from home, but its CEO now says he had decided “hit pause on implementing any changes."
The Securities and Exchange Commission rejected the banks' arguments that the proposals amounted to shareholder micromanagement and that they have made ample disclosures.
Arjuna Capital is filing shareholder proposals with 11 financial and tech companies to uncover median gender pay gaps, which it said would determine if more women are concentrated in lower-paying jobs.
