The new Center for Climate-Aligned Finance will help financial institutions navigate the various challenges involved in the shift to renewable energy — as lenders, power consumers and corporate citizens. Its backers include JPMorgan and Bank of America.
The company has established a fund that will provide capital, technical assistance and long-term recovery support to small businesses, especially minority-owned companies. The other megabanks are expected to donate their fees, also.
The Wall Street firm is jumping into a market dominated by a handful of big U.S. banks, betting that superior technology can lure companies with complex cash-management needs.
Wells Fargo is pulling back from student lending as the surge in coronavirus cases threatens to further disrupt higher education and the broader U.S. economy.
Supreme Court says the president has the power to remove the director at will; the bank is the only one of the six largest U.S. banks to say they will cut their dividend next quarter.
Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention.
Titi Cole was recruited away from Wells Fargo to join Citi as head of global operations and fraud prevention. She’ll report to Jane Fraser, the CEO of global consumer banking.
The payments company is buying Finicity, which powers platforms for Rocket Mortgage and others; the small N.J.-based lender to fintechs is the fourth largest PPP provider.
