Analyzing executive compensation trends
American Banker’s Allissa Kline speaks with Shaun Bisman and Kelly Malafis of Compensation Advisory Partners about the latest trends in bank CEO pay and what to expect for the rest of the year.
Credit unions report a record-setting plunge in savings balances
The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.
‘Passionate’ fight: SBA, IG clash over depth of PPP fraud
Isabella Guzman, the administrator of the Small Business Administration, skipped a congressional hearing called to discuss the wide disparity in the level of fraud calculated by her staff and a parallel examination conducted by SBA’s Office of the Inspector General.
Gensler’s crypto onslaught will eventually be halted by the courts
The SEC chairman’s power grab is driving the crypto industry out of the U.S. Eventually, the courts will find that he has exceeded his authority.
What GTCR sees in Worldpay
The private-equity firm plans to focus on innovation and acquisitions when it takes a controlling stake of the payments processor.
Citi gets boost from credit cards as borrowers start to struggle
Higher interest rates and larger card balances set the stage for an 11% jump in revenue from U.S. personal banking in the second quarter. That blunted the impact of a 78% surge in write-offs tied to consumer loans.
Wells Fargo lifts net interest income guidance on rate hikes
Executives now see Wells Fargo’s NII rising roughly 14% for the full year, more than the 10% jump they had earlier projected.
JPMorgan notches record revenue on rates, First Republic deal
JPMorgan Chase’s revenue soared to a record in the second quarter, boosted by the Federal Reserve’s interest rate hikes and its acquisition of First Republic Bank.
What the end of admission preferences means for banks, credit unions
The Supreme Court’s ruling on affirmative action in higher education has opened the door to challenges of diversity initiatives in the financial services sector, legal experts say. Internship programs for minority students could face scrutiny, as could efforts to increase workforce diversity.
CPFB and 11 states sue boot camp operator over income-share agreements
The lawsuit against Prehired involves a relatively new product that consumer advocates say is akin to a student loan — and should be subject to far more protections.