Category: News

April 12, 2023

U.S. Bank announced several changes to its executive leadership team today to succeed two leaders who are leaving the company this summer. “We are proud of our longstanding history of attracting, developing and supporting talented leaders who position us for […]

April 7, 2023

After setting three straight monthly records, the number of employed Americans leaped again last month, reaching another all-time high in March. The Labor Department’s Bureau of Labor Statistics says 160,892,000 Americans were employed last month, an increase of 577,000 over […]

April 4, 2023

Recent stress in the banking sector continues to affect the operations and financial positions of banks in the U.S. While executive management teams analyze events and take actions to address the needs of their institutions and customers, there are important […]

March 20, 2023

New York Community Bank subsidiary Flagstar acquired a large segment of Signature Bank for $2.7 billion, NYCB and the Federal Deposit Insurance Corp. announced Sunday. Included in NYCB’s purchase are $38.4 billion in assets, $25 billion in cash, $12.9 billion […]

March 15, 2023

Silicon Valley Bank’s lack of a chief risk officer for much of last year is being examined by the Federal Reserve as part of its probe of the bank’s failure, two people familiar with the matter said. SVB revealed in […]

March 13, 2023

For the ninth consecutive year, U.S. Bank has been named one of the World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. “This award reflects our employees and […]

March 3, 2023

Citi is cutting hundreds of positions, including some in investment banking, mortgage underwriting and technology, Bloomberg and Reuters reported Thursday. The cuts represent less than 1% of the bank’s headcount, people familiar with the matter told the wire services, adding […]

March 1, 2023

The Treasury announced on Wednesday it will form a working group with the Federal Reserve and other agencies to shape global central bank digital currency standards amid ongoing interest in a digital dollar, said Under Secretary for Domestic Finance Nellie […]

February 28, 2023

U.S. Bank announced today that it has added portfolio optimization capabilities to its Pivot client platform, giving collateralized loan obligation (CLO) clients comprehensive insights for faster and more effective trading. Using a set of criteria selected by the client, Pivot […]

February 27, 2023

The Heritage Foundation’s 2023 Index of Economic Freedom, released Monday, offers sobering insights into setbacks to economic freedom across the globe, including, regrettably, here at home. Since its inception in 1995, the index—an annual global study that compares countries’ entrepreneurial […]

February 20, 2023

Digital finance teams know the best way to increase efficiency and produce high-quality information is with AI-powered systems. Chen Amit, the co-founder and CEO of Tipalti, shares the top four benefits of incorporating fintech and automation into the finance function. […]

February 2, 2023

Deutsche Bank is preparing further job cuts to keep costs in check, with the focus likely to be areas outside the trading unit. Meeting expense targets in an inflationary environment will require a redoubling of savings efforts, including job cuts, […]

January 27, 2023

In an internal message shared with Luno employees, Marcus Swanepoel, the company’s co-founder and CEO, cites the global economic downturn and an “even bigger” downturn in the tech sector, as well as a crypto winter “with a series of shocks” […]

January 24, 2023

U.S. Bank announced today that it has received the highest rating, “Outstanding,” for its recent Community Reinvestment Act (CRA) examination from the Office of the Comptroller of the Currency (OCC). The examination period was January 1, 2016, through December 31, […]

January 20, 2023

U.S. Bank announces the hire of Guillaume Mascotto as the company’s head of Sustainable Finance. In this new leadership role, Mascotto will build and lead a new team focused on identifying sustainable finance opportunities across the entire enterprise. Based in […]

January 9, 2023

Goldman declined to comment on the reported cuts, but a source within the bank confirmed to Banking Dive the round of cuts will not exceed 3,200. That figure is lower than the 4,000-employee ceiling Semafor and other news outlets reported […]

December 29, 2022

ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) (“ChoiceOne”) are pleased to recognize the donations ChoiceOne employees have made this year. Through an employee Jean Day program, multiple donations are made to local nonprofits throughout the year and at […]

December 28, 2022

Despite the necessity of driving individualised experiences, the banking industry is struggling to keep up with retailers, media and tech companies in delivering these highly tailored interactions and product offerings to their customers. And considering that millennials and Gen Z […]

December 22, 2022

More than 132 million Americans across the country trust their finances to a credit union. As not-for-profit financial institutions, credit unions have the flexibility to offer members lower rates on loans, fewer fees and higher-yielding returns on their savings. While […]

December 21, 2022

Some JPMorgan Chase shareholders feel a recent progress report on its racial-equity promises lacks clarity and that the audit process to create the report had “several deficiencies.” SOC Investment Group, which suggested the bank conduct a racial-equity audit in 2020, […]