Category: News

September 28, 2022

If your bank has not modernized its fairness practices, the old ways of doing fair lending compliance may no longer keep you safe. Here are three factors that make this moment in time uniquely risky for lenders when it comes […]

September 26, 2022

First National Bank, the largest subsidiary of F.N.B. Corporation ( NYSE: FNB), announced today that it has again been named a Greater Pittsburgh Top Workplace by the Pittsburgh Post-Gazette. FNB, which was the highest-ranking bank in the large company category, […]

September 13, 2022

Overall, the card company expects spending to rise over 2019 pre-pandemic levels this holiday season, despite the uncertain economic environment, including inflation and higher interest rates. Indeed, Mastercard expects total retail sales, excluding auto, to jump 18.8% over the 2019 […]

September 13, 2022

One set of attributes for effective bank directors, especially as community banks navigate a changing and uncertain operating environment, are curiosity and inquisitiveness. Providing meaningful board oversight sometimes comes down to directors asking executives the right questions, according to experts […]

September 7, 2022

Bank of America will release a revamped office-return policy in the next six to eight weeks, CEO Brian Moynihan told an audience Tuesday at a banking conference in New York. “We’ll have more flexibility than we did, on paper, before,” […]

September 7, 2022

Butterfield will acquire Credit Suisse Trust’s (CST) business in Guernsey, Singapore and the Bahamas while Gasser is set to snap up CST’s Liechtenstein business. Credit Suisse head of investment solutions and sustainability, Michael Strobaek, says the firm regularly reviews its […]

August 30, 2022

U.S. Bank and Opendorse today announced a strategic collaboration that will bring financial literacy education to thousands of student-athletes navigating the emerging landscape of name, image and likeness. Through a first-of-its-kind collaboration, 80,000+ athletes on the Opendorse platform will have […]

August 16, 2022

Financial services companies should set “stretching targets” for appointing people from working class backgrounds to senior positions, a UK government-sponsored report said on Thursday [Aug. 11]. The finance industry is already making efforts to appoint more women, Black and ethnic […]

August 8, 2022

Even as the labor market cools, the need for tech talent remains particularly acute. The problem for banks is that they compete not just with other banks, credit unions and financial technology companies for data scientists, software engineers and product […]

August 2, 2022

Wells Fargo defended its 2020 diverse slate policy Monday by citing its own hiring statistics. External hiring volume in the bank’s U.S. roles increased 17% in 2021, compared with 2020, Wells Fargo said. At the same time, the bank’s external […]

July 29, 2022

The closures are the latest in a long line of branch closures as high street banks grapple with changing customer behaviours and the shift to mobile and digital-first banking. Lloyds Banking Group says it has 19.1 million online banking customers […]

July 7, 2022

Each American bank has an opportunity to stay ahead of the regulatory environment by adopting and building open banking systems that serve both its customers and the bank itself. That’s according to experts who discussed the subject at American Banker’s […]

July 6, 2022

President Joe Biden claims that his release of oil from the U.S. Strategic Petroleum Reserves (SPR) is helping reduce the price at the pump in America, but more than five million barrels of the oil released from the reserve went […]

July 6, 2022

Central banks around the world are gripped in an uncharacteristic frenzy. Almost every central bank is at least setting up “commissions” to look into the luring and jarring prospect of redefining their national currency. A few countries simply embraced Bitcoin […]

July 5, 2022

In January 2022, Openpay had decided to withdraw from the UK market and had also appointed US investment bank Keefe, Bruyette & Woods (KBW) as corporate advisors to assist with the search for potential investors. “However, given the current macroeconomic […]

July 1, 2022

With Daxsen Bank, the firm intends to reduce operational and transactional costs to “revolutionise” the country’s banking sector. “This is intended to be a digital bank that will open accounts at no cost and improve banking operations through the management […]

June 28, 2022

With the new licence now in hand, Kroo can offer depositors protection through the Financial Services Compensation Scheme (FSCS) for up to £85,000. Founded in 2016, Kroo offers its 23,000 customers a current account with overdraft facilities along with socially […]

June 27, 2022

J.P. Morgan Asset Management today announced the hire of Daniel Yem as a Senior Investment Specialist to support the firm’s Retirement Solutions team. Mr. Yem will be based in New York and reports to Daniel Oldroyd, Head of Target Date […]

June 17, 2022

Contractionary monetary policy is the process whereby a central bank deploys various tools to lower inflation and the general level of economic activity. Central banks do so through a combination of interest rate hikes, raising the reserve requirements for commercial […]

June 16, 2022

Morgan Lewis partner Michael Kraut and his family were moving briskly through the San Diego airport to catch a flight home from vacation early this year when Kraut received an email from a U.S. Bank lawyer asking him to review […]