Commercial banking

Pressure mounts on U.S. bank regulators to stress test for climate change

09/20/20

Lenders should be subjected to tough reviews of their readiness for economic threats posed by severe weather, required to disclose risks lurking in their portfolios and perhaps forced to set aside extra capital, a government study recently recommended.

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Why some banks are aggressively cutting costs and others aren’t

09/15/20

Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies and hold off on moves like branch closings to better gauge which changes in consumer behavior will stick.

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JPMorgan adds consumer bank CEO Duckett to leadership team

09/15/20

JPMorgan Chase added a half dozen executives, including Thasunda Brown Duckett, to its operating committee in the biggest expansion of its top leadership group in years.

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Citi using Revlon snafu to fix risk management

09/14/20

Citigroup will establish new internal oversight guidelines, spend more on technology and take other steps to upgrade risk systems, CFO Mark Mason said at an industry conference in discussing the aftermath of the bank’s mistaken $900 million payment.

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No easing into the job for Citi’s Fraser

09/10/20

When Jane Fraser takes the reins of Citigroup in February, she will have to tackle the company’s cards slump, lagging performance metrics and challenges presented by employees’ return to the office.

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JPMorgan finds some workers improperly pocketed COVID relief funds

09/09/20

The bank discovered the actions, all of which were tied to the SBA's Economic Injury Disaster Loan program, after noticing that suspicious amounts of money had been deposited into checking accounts owned by bank employees, according to a person with knowledge of the matter.

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Citi promotes Carla Hassan to chief marketing officer

09/09/20

Citigroup named Hassan to the new role as part of a move to combine its marketing and branding divisions.

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M&T's new fintech unit rolls out first product

09/09/20

The bank's innovation group has developed a software tool for law firms. It hopes the project will help it speed products to market and attract top technology talent.

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N.C. bank turns to Black colleges to broaden recruitment

09/02/20

Piedmont Federal Savings is working with historically Black colleges and universities to hire and train prospective commercial lenders and managers who better reflect the community it serves.

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Will Citi snafu bring fresh scrutiny to custodial banks?

08/25/20

Citigroup’s $900 million payment blunder in a usually sleepy part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.

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