Virginia community bank cuts 12% of its staff


New Peoples Bankshares said the layoffs were necessary because of the coronavirus pandemic and "a changing financial services industry."


Prepping for PPP 2.0, new bankers’ hours, rethinking branch design: Top stories of the week


Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories.


Corbat urges caution; Goldman donates masks


Citigroup CEO says it’s a “fine line” between supporting customers and burdening them with debt; Goldman gives away 600,000 N95 masks it had from prior scares.


Addressing the coronavirus; Wells workers to testify


Wall Street banks make plans to keep workers in Tokyo safe; the employees are bringing their grievances against the bank to Capitol Hill.


HSBC plan sidesteps CEO question; Bloomberg would toughen bank regulations


The overhaul calls for massive job cuts but leaves interim CEO Noel Quinn’s permanent role in limbo; the program would throw out most of Trump’s Dodd-Frank rollbacks.


Bank faces backlash on Tubman card; HSBC to cut costs, workers


Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut.


JPMorgan to slash hundreds of jobs across its consumer unit


JPMorgan Chase plans to dismiss several hundred workers from its consumer unit as the lender seeks to rein in costs, according to people briefed on the matter.


Fed, OCC to propose easing Volcker rule; Visa's fintech interest


The regulators plan to drop the 3% limit on bank investments in venture capital funds; Visa invests in another fintech startup.


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.


Morgan Stanley to cut jobs; big banks making progress on replacing Libor


The Wall Street bank to shed 1,500 spots ahead of an uncertain 2020; smaller and regional banks are lagging behind but expect to increase their focus next year