Tracy Atkinson joins Citizens Financial’s board, Toast cuts workers
Ex-State Street exec joins Citizens Financial’s board, payment software firm Toast will cut workers, Visa rolls out enhanced digital wallet tools and more in the weekly banking news roundup.
City National reports layoffs amid focus on controlling costs
The Los Angeles-based bank said that it’s eliminating roles across its footprint. The job cuts follow a year in which expenses soared and losses piled up.
Banks piling back into everything from mortgage debt to CLOs
Amid an upturn in deposits, banks are searching for ways to put this new cash to work. The traditional option — boosting lending — is hard to do right now. That’s left banks to park more money in high-quality securities that they believe will boost returns without heaping on too much credit risk.
Press Release: Agencies Issue 2023 Shared National Credit Program Report
PRESS RELEASE | FEBRUARY 16, 2024 AGENCIES ISSUE 2023 SHARED NATIONAL CREDIT PROGRAM REPORT WASHINGTON — Federal bank regulatory agencies today reported in the 2023 Shared National Credit (SNC) report that credit quality associated with large, syndicated bank loans remains moderate. However, the agencies noted declining credit quality trends due to the pressure of higher interest […]
New York bank settles wage dispute with a $5.8 million payout
Community Bank System in Syracuse faced claims it failed to properly pay some branch-level employees, making it one of a growing number of banks forced to confront compensation-related disputes in recent months.
Goldman boosts CEO Solomon’s pay 24% after firm’s profit slumps 24%
His pay jump was greater than every other major U.S. bank CEO whose compensation has been disclosed.
Hometown Financial near Boston strikes seventh M&A deal in past decade
Buying North Shore Bancorp in Peabody, Massachusetts, would give Hometown nearly $6 billion of assets and a higher profile in New England.
Fed’s Barr says supervisors have stepped-up vigilance since SVB
Federal Reserve Vice Chair for Supervision Michael Barr said Friday Fed supervisors continue to draw on lessons learned from last March’s bank failures — like the need for heightened scrutiny — in addressing risks banks currently face including firm asset growth, liquidity pressures and plummeting commercial real estate values.
Private credit cuts pricing to fend off Wall Street deal grab
The rivalry between upstart direct lenders and the likes of Goldman Sachs and Morgan Stanley is driving interest rate margins to new lows.
How to apply for the Most Powerful Women in Banking and Finance: Next 2024
Call for submissions for women 40 years and younger who are rising stars at their bank or financial institution.