Atlantic Bay Mortgage Group has agreed to buy a majority stake in Virginia Community Bank in a rare instance of a nondepository mortgage company buying a bank, rather than the reverse.
Banks planning to shift parts of their operations from London to other European cities because of Brexit will have to increase salaries because of a skills shortage, according to the head of a recruitment company.
Outside counsel for Wells Fargo accidently sends files on wealthy customers to opposing lawyer in defamation case; White House wants agency’s consumer complaint database to be private.
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.
What's more, loan officers' pay has dropped. At work behind these surprising trends is a blend of economic forces, technological change and pressure on banks to pay entry-level employees better.
Wells Fargo beats out other banks — and by a wide margin — in BrandZ’s ranking of most valuable brands; American bank CEOs make much more than their foreign counterparts.
The refusal by top U.S. banks and credit card companies to respond to investor concerns about gender inequity is in contrast with progress by U.K. banks.
