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.
Analysts are watching both Vice President Kamala Harris and former President Donald Trump for potential regulatory picks, as well as how strongly Trump advocates for policies like tariffs and deportations that could impact the economy, inflation and bankers' prospects.
Leaders at financial institutions said borrower demand should pick back up, if slowly, following Tuesday's vote.
The Consumer Financial Protection Bureau will soon have to defend its interpretive buy now/pay later rule in court following an industry advocacy group lawsuit. Here's what's at stake.
Potential new Senate Finance Committee Chair Sen. Mike Crapo, R-Idaho, has suggested a potential workaround to offset the cost of extending the Tax Cuts and Jobs Act.
Few banks are listening to what their customers are saying on Reddit, but the site can help them spot customer complaints and develop content that dispels misinformation.
Sens. Elizabeth Warren and John Hickenlooper say recent data suggests there is "no need for restrictive interest rates" and easier monetary policy is necessary to lower housing costs.
