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.
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 public.
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.
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.
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.
The Trump administration is “sounding a friendlier tone” toward bankers following the Obama chill; credit bureau takes steps to limit the financial damage.
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.
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.
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.
