Why banks may still face pain on deposit costs next year
Bank CEOs are eyeing a near-term peak in deposit costs as the Fed perhaps moves closer to cutting interest rates. But the pressures they’ve faced this year as depositors ask for more compensation may not die down right away.
Sprout settlement rejected by judge who finds executive in contempt
The magistrate ordered a fine and possible detainment for a former company president now working for another lender.
FDIC hires Cleary Gottlieb to investigate workplace misconduct
The Federal Deposit Insurance Corp. said Monday it has hired Cleary Gottlieb Steen & Hamilton to conduct an independent review of its workplace culture amid allegations of rampant sexual harassment in the workplace.
Citi explores new deal structures in battered CO2 offsets market
Citi is among an increasing number of global banks that’s now building out desks to finance carbon offset projects, trade credits and advise corporate buyers in the hope of latching on to growth in a market that may reach $1 trillion.
How lenders are adapting new tech to strengthen underwriting activity
Leaders at the helms of organizations like Georgia United Credit Union, BayPort Credit Union, Blend Labs and more are adapting products such as “soft check” credit scoring, artificial intelligence-powered bots to streamline application reviewal and more.
Goldman reshuffles private credit in bid to double assets
The revamp will see Greg Olafson become global head of private credit from his current role as co-president of alternatives.
Buy now/pay later lenders face holiday risk tests
A tightening economy plus an aggressive start to fourth quarter shopping will put firms’ underwriting decisions under the microscope as regulators’ concerns mount.
Press Release: Special Committee of the FDIC Board Selects Cleary Gottlieb Steen & Hamilton LLP to Conduct Independent Review
PRESS RELEASE | DECEMBER 11, 2023 Special Committee of the FDIC Board Selects Cleary Gottlieb Steen & Hamilton LLP to Conduct Independent Review WASHINGTON – The Special Committee of the Federal Deposit Insurance Corporation (FDIC) Board of Directors established to oversee an independent third-party review of the agency’s workplace culture issued the following statement today: “The […]
Bank of America promotes 334 to managing director, 8% fewer than last year
More than half of those elevated to the senior role were women or people of color, marking the fourth consecutive year that historically underrepresented groups made up the majority of the class.
What the next generation of wealth management clients want, with Bank of America’s Katy Knox
What do younger clients want from wealth managers? Katy Knox, president of Bank of America’s Private Bank, sits down with American Banker Editor-in-Chief Chana Schoenberger to discuss the future of high-net-worth investing and what clients are looking for now.