JPMorgan Chase, Fifth Third, Truist among banks closing early to observe Juneteenth; inside the OCC's effort to extract $37.5M from former Wells Fargo execs; banks are at a loss what to do with record amount of funds; and more from this week's most-read stories.
Before the coronavirus outbreak, financial institutions, wary of robberies, prevented customers from covering their faces. As branches reopen, public health concerns are forcing accommodations.
Digital banking has ramped up during the coronavirus lockdown but customers will seek somewhere to go as cities reopen. A branch could provide that safe haven.
Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected.
The Georgia bank could rely more on drive-through-only branches, trim office space and reassess staffing levels after the coronavirus crisis, according to Kessel Stelling.
It joins a growing list of banks temporarily shuttering branches as the novel coronavirus continues to spread across the country and more Americans stay home. Meanwhile, Citi and rival Wells Fargo became the latest banks to announce plans to pay bonuses to front-line employees.
