A tax that banks successfully opposed throughout the Obama administration was endorsed by the president on the campaign trail and is supported by many prominent Democrats in Congress as a means of funding government spending.
Roddy has worked at JPMorgan for more than two decades. He replaces Rob Holmes, who recently left the company to join Texas Capital Bancshares as CEO and president.
The architects of two major loan deals featuring Black banks, one involving multiple lenders and a pro sports franchise and another backed by Citigroup, say more transactions like these are in the works.
A defense spending package includes a measure requiring new businesses to report their beneficial owners directly to the Financial Crimes Enforcement Network, shifting the burden away from banks.
Citigroup appointed Elissar Farah Antonios as the first woman to run its Middle East and North Africa operations, among the U.S. bank’s fastest-growing businesses in emerging markets.
In November, the Sierra Club singled out Bank of America as "the only major U.S. bank not to rule out financing for the destruction of the Arctic refuge" after its five biggest competitors updated their policies this year.
The Toronto company says it will begin by gathering data on the greenhouse gas emissions of borrowers — a critical first step toward stress testing for climate events.
The global bank has rolled out cash-flow forecasting tools as financial institutions race to meet urgent demands from commercial customers trying to navigate uncertain times.
