Citigroup’s Michael Corbat said he’s worried about potential long-term negative effects after many of his employees spent the vast majority of 2020 working from home.
With COVID-19 cases soaring, a growing number of banks, including JPMorgan Chase, U.S. Bancorp and Capital One, have pushed back target dates for bringing employees back to offices. Some are even allowing them to work from home indefinitely.
Some workers have thrived while working remotely but others miss the social interaction of an office, and the recent surge in coronavirus diagnoses means employers will be facing these challenges well into next year.
Corporate breaches facilitated by employees — often accidentally — rose significantly this year, and banks have been particularly hard hit. Here's why.
“The asset management industry in particular has found it is quite productive to work from home,” says Mary Erdoes, who runs asset and wealth management at JPMorgan Chase.
Fraudsters have increased their attempts to steal data through email scams since much of the financial services sector moved to remote work when the pandemic began.
The credit union regulator has no immediate plans to bring staff and examiners back into the office, but Chairman Rodney Hood said staying remote would remain an option for all staff members during Phase 1 of any return.
Four of the nation's largest banks updated their progress in recent days on return-to-office plans. The takeaway: Most workers won't be back anytime soon.
