Mayor Eric Garcetti signed an ordinance Monday that establishes new requirements for banks that want to do business with the city. The rules are thought to be the first of their kind nationally. ... Read full article
An inquiry into the sales practices of more than 40 banks launched in the wake of the Wells scandal found several systemic issues and hundreds of problems at individual institutions. The OCC completed the review in December but is not making the results ... Read full article
Payouts on Wall Street averaged $184,000, following only 2006’s record high; ethics office eying $500 million of real estate loans made to Trump son-in-law. ... Read full article
The departing New York Fed president said Monday that the banking industry should improve its culture, better aligning pay with long-term stability and removing bad actors. ... Read full article
Three additional banks announced bonuses, wage hikes and charitable contributions resulting from the lower corporate tax rate enacted by Congress. ... Read full article
The $50 billion threshold replaced by a formula, but bill must be reconciled with Senate version; Fed, FDIC say the eight big banks still have work to do. ... Read full article
The Trump administration is “sounding a friendlier tone” toward bankers following the Obama chill; credit bureau takes steps to limit the financial damage. ... Read full article
Want employees to feel empowered to make decisions to help customers? Rewarding that behavior is one way to reinforce the message. Here’s how one South Dakota community bank goes about it — in a splashy, Super Bowl-sized way. ... Read full article
A regulatory plan to create new restrictions on banks’ executive compensation practices appears dead – but changes since the financial crisis may have made the proposal largely obsolete anyway. ... Read full article
In March 1998, American Banker reported plans by Norwest Corp. to establish sales quotes and step up cross-selling. Three months later, the Minneapolis bank merged with Wells Fargo. ... Read full article
Texas Capital ties bankers’ bonuses to loan performance instead of volume. The strategy has aided recruitment and helped the bank achieve exceptional loan growth while keeping credit quality respectable. ... Read full article
So-called performance-share units are pushing aside stock options as the preferred long-term incentive pay for bank executives. Many investors and regulators fear that options can encourage reckless conduct and have other shortcomings, though options still ... Read full article
Banks like TD and U.S. Bancorp are suddenly taking public shots from current and former employees critical of their sales practices, a sign that the industry has not put behind it the questions raised months ago by the phony-accounts scandal at Wells. ... Read full article
The embattled bank said that the decision to withhold 2016 bonuses for CEO Tim Sloan and seven other executives was not based on any findings of improper behavior. ... Read full article
The FDIC received eight new bank applications last year, not a lot but the most since the financial crisis; Wells' board is considering dropping bonuses for its top brass. ... Read full article
The bank's board is considering whether to withhold bonuses for CEO Tim Sloan and Chief Financial Officer John Shrewsberry. ... Read full article
