Citi puts pay-equity analysis on hold amid cuts to its workforce
The megabank, which is eliminating about 5,000 jobs in a first round of restructuring, said that it’s paused its annual review of racial and gender pay gaps. Citi will conduct a 2023 review sometime later this year, a source said.
Powell: Fed will start slowing balance sheet runoff ‘fairly soon’
Federal Reserve Chair Jerome Powell said at the Federal Open Market Committee press conference Wednesday that a slower pace of reduction could help the central bank avoid shrinking its holdings further without disrupting the banking system.
Key looks to offload risk in deal with Blackstone
The Cleveland-based regional bank is shedding credit risk in a partnership with the private equity giant Blackstone. It’s the latest tie-up between asset managers and regional banks that are looking to free up balance-sheet capacity.
Are U.S. banks ready for a major ACH outage?
In a simulation exercise hosted by the Global Resilience Federation on Tuesday, banks and credit unions tested their ability to withstand an industrywide wiperware attack.
Organizations lost billions to fraudsters
Companies lose an estimated 5% of their revenue each year due to fraud, according to a report from the Association of Certified Fraud Examiners.
Supply takes center stage in Washington’s housing push
Policy experts say the mix of proposals put forth by the White House could ease the nation’s housing shortage, but success will be neither quick nor assured.
ABA, Postal Inspectors in partnership to combat uptick in check fraud
The American Bankers Association and U.S. Postal Inspection Service have launched a public awareness campaign on ways to protect checks sent in the mail.
McDonald’s investigates payments outage, dLocal shuffles C-suite
The fast-food chain is analyzing the cause of an issue that affected payments in multiple countries. Separately, dLocal, a payments processor in Uraguay, is making changes at the top.
Unions are coming for bank branches. Yours could be next on the list.
In the wake of multiple successes in 2023, the labor movement in the U.S. is continuing its efforts to expand. Recent successful union elections at Wells Fargo branches should be a wake-up call to the industry.
5 regulatory issues to watch in banking this year
How the FDIC, the Federal Reserve and other regulators are working to keep banks in compliance through 2024.