Citigroup said its board changed the way the lender calculates performance pay for executives after receiving some complaints.
Executives can earn more than 100 percent of their annual performance-based compensation only if shareholder returns are positive, the New York-based bank said Wednesday in a regulatory filing. The change is designed to ensure that executives don't receive a bigger bonus than initially awarded when the bank's total return is negative over a three-year period.
Banks such as TD, Wells Fargo and Bank of America drew attention this year for money-laundering issues. That's one of several top regulatory news items in 2024.
The Federal Reserve is poised to make several key decisions during the year ahead that will impact monetary policy both in the near term and for years to come.
From embedded finance to artificial intelligence to real-time processing, there are plenty of sources of competition and opportunity in the new year.
The integration of J.P. Morgan's Fusion platform with FactSet aims to give buy-side clients the same level of analytics available to the sell side.
The Treasury Department extended deadlines for businesses to file beneficial ownership information after a court lifted a nationwide injunction on the reporting requirements.
On her way out the door, SBA Administrator Isabel Casillas Guzman issues licenses to four more nondepository lenders.
