Commercial banking
The Rhode Island bank has launched a program that allows companies to use interest earned on their deposits to purchase credits. It's a way for companies to address climate change without reducing their own hard-to-abate emissions.
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The megabank made its first-ever disclosures about financed emissions in a report aligned with the Task Force on Climate-related Financial Disclosures. "The complexity of this process only served to highlight the critical need for consistent, verified public reporting of emissions and other climate-related data," the bank stated.
October 6 -
In a report published Tuesday, the nonprofit Finance Watch estimates that the 60 largest global banks have about $1.35 trillion of credit exposures to fossil fuel assets.
October 4
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The industry is largely missing out on a huge segment of the market for financial services.
October 3 -
After investment banking fees fell by 54% last quarter, the nation's largest bank by assets is considering cutting back. "Last year, we had to add a lot of bodies just to execute the huge amount of volume we were executing," Chief Operating Officer Daniel Pinto said Tuesday.
September 13 -
The Mortgage Bankers Association forecast comes as bankers continue keeping an eye on their commercial real estate portfolios, including office buildings. The MBA also noted that many companies have long-term leases on their offices, likely making the hit more gradual.
September 11 -
Lenders are extending credit to corporate suppliers, helping them get paid earlier and keeping goods flowing. But the growth in the sector carries certain risks, too.
September 8 -
Mike Maguire will succeed Daryl Bible as the North Carolina bank's finance chief. Maguire has been in charge of Truist's consumer finance and payments businesses for nearly two years.
September 7 -
The North Carolina bank's insurance subsidiary agreed to pay $3.4 billion to buy BankDirect Capital Finance. The sale reflects opposing strategies by the two companies.
September 6 -
Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.
September 1
