Consumer banking
Carrie Tolstedt, scheduled to be sentenced Friday for her role in the company's phony-accounts scandal, has already paid for her crime and should receive three years probation, her attorneys argue in a sentencing memo. Prosecutors have recommended a year in prison.
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Fraser has a plan to reduce the number of management layers at Citi, shrink its workforce, speed up decision-making and give herself more control of the bank's five core businesses. "It's going to make some of our people very uncomfortable," she said.
September 13 -
Lenders either write down portions of soured credits or charge them off altogether to remove them from their balance sheets. Banks also set aside reserves to cover potential future bad loans. This allowance creates a buffer for lenders to absorb losses.
September 13
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Following New York Community Bancorp's acquisition of Flagstar, the company is ditching the regional bank brands that it long used. CEO Thomas Cangemi calls Flagstar a "neutral" but "patriotic" name that underscores the firm's nationwide expansion strategy.
September 13 -
Recent Arizent research shows that having appealing digital spaces is one of the most important factors for customer experience at banks.
September 12 -
After taking incremental steps to bolster its wealth management business, the Rhode Island bank is preparing to roll out a broader strategy focused on high-net-worth clients.
September 11 -
The avoidance of one of the harsher economic scenarios is good news for banks, which are also contending with tighter profit margins and increasing competition for customers. But loan growth and credit quality could be at risk.
September 11 -
Artificial intelligence is on the cusp of solving some of the most chronic problems facing bank managers. They need to embrace it.
September 7 -
The New York-based company announced the launch of a health care lending unit after capitalizing on recent bank failures to add seven deposit-focused banking groups this spring and summer.
September 6 -
As the Latino population in the U.S. expands, so does the business case for banks and credit unions that want to tailor services for this audience.
September 6
