ESG
Rep. Maxine Waters is adding to the pressure that the North Carolina bank is feeling in connection with a community benefits plan that was mostly expected to benefit communities in California. First Citizens, which bought SVB from the FDIC, has so far been noncommittal.
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Last year, just 31% of the bank's shareholders voted in favor of compensation packages for top executives. Support climbed to 89% this year after JPMorgan vowed not to make any more special one-time awards to Chairman and CEO Jamie Dimon.
May 16 -
The resignation comes after the bank was placed on the state treasurer's list of fossil fuel industry boycotters.
May 5
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The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.
May 4 -
The placement of Wells Fargo, JP Morgan Chase, and Bank of America on the list makes them ineligible for state and local government contracts.
May 4 -
Kaua'i Federal Credit Union in Lihue is launching an "economic resiliency center" for members in the Kapa'a community. It hopes to support minority-owned businesses throughout the area by providing access to housing resources and other funding.
May 3 -
The National Credit Union Administration is seeking the perspective of credit union leaders in areas vulnerable to natural disasters to gauge the true scope of environmental changes and to inform best practices for managing their impact.
May 1 -
At the two big banks, proposed phaseouts of lending for new fossil-fuel exploration drew less shareholder support on Tuesday than they did a year ago. The results were a blow to activists who want big banks to take stronger action to combat climate change.
April 25 -
JPMorgan's board of directors recommended shareholders reject three proposals for the bank to divest from fossil fuels, set new emissions reduction targets and detail 2030 decarbonization plans.
April 5 -
Federal banking regulators should allow banks to receive Community Reinvestment Act credit for making loans to community news organizations.
March 10
