Fed bars another Goldman banker for 1MDB; SEC readies major crypto suit
The bank’s former Asia investment banking co-chief is its third executive to be so punished; the agency says Telegram’s digital coin is a security. ... Read full article
News Topic: ESG
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U.K. overdraft plans draw scrutiny; Deutsche to delay pay raises
The country’s banks plan to raise overdraft rates to 40%, which has regulator watching; starting this year pay increases won’t be retroactive to Jan. 1. ... Read full article
Citi slightly improves raw pay gap numbers
In the year since it voluntarily disclosed its own data, Citigroup has shown an improvement in its median pay for female and minority employees, the firm said Wednesday. ... Read full article
Goldman’s small reveal on consumer unit; Warren proposes bankruptcy reform
Marcus and the Apple credit card accounted for 3% of the bank’s profit in the first three quarters of 2019, despite a multibillion-dollar investment in consumer operations; the senator’s plan would make it easier to expunge debt. ... Read full article
What will drive bank lending
Population shifts and the explosion of e-commerce will upend commercial real estate lending while heightened demand for clean energy, not to mention pressure from investors, will diminish banks’ enthusiasm for fossil-fuel financing. ... Read full article
Goldman’s green goal; Biggest U.K. banks ace stress test
The bank announced a $750 billion plan to “focus on climate transition and inclusive growth”; the seven biggest banks have passed three years in a row. ... Read full article
Credit card issuers bulk up; Diversity still a challenge for banks
Issuers have started adding metal to their credit cards; banks have been “slow” to add diversity in executive ranks, filings suggest. ... Read full article
Bank of the West, fintech OpenInvest partner on socially conscious investing
Software creates a portfolio for bank customers that could be designed to support, say, efficient energy sources or refugees and avoid investments clients consider objectionable. ... Read full article
‘What’s needed is a wholesale change in the culture’
Bruce Cahan, a lecturer at Stanford University who teaches ethics, explains the link between ethical principles and profitability for financial services firms. ... Read full article
Bank of the West's sustainable investment push
CEO Nandita Bakhshi explains how the bank is investing in renewable energy, female entrepreneurs and underserved consumers. ... Read full article
Michael Jantzi, CEO, Sustainalytics (full session)
ESG goes mainstream ... Read full article
Banks pivot toward greener finance in climate action push
Financial institutions are beginning to get on board with the global fight against climate change, but they are still trailing pension funds and insurance companies in putting these concerns into action. ... Read full article
Gender-lens investing is coming into its own
With all the attention around more women running for office, women's marches, and the #MeToo movement, there is growing demand for investment options that support women too, says Veris' Luisamarie Ruiz Carlile. ... Read full article
Myth busting's part of the job in impact investing
Do impact investments — which are made with the intention of fostering social or environmental benefits — underperform? Those involved in the sector answer with a resounding "no." ... Read full article
Motif gets political with values-based investing tool
The firm built a product to match the current moment, which is political, says CEO Hardeep Walia. ... Read full article
Can bank divestment stop the Dakota Access Pipeline?
Activists are pressuring banks involved in financing the controversial Dakota Access pipeline to abandon the project by threatening to withdraw their money and sever business ties. Can that tactic change how banks approach lending – and what does it mean ... Read full article