Jordan Stutts is a New York-based reporter covering national and regional banks and how the finance industry impacts society. Before joining American Banker, Jordan covered private equity at PEI Media. His journalism career began at Qcitymetro, a local news publication based in Charlotte, North Carolina.
The $369 billion directed toward climate preparedness in the Inflation Reduction Act is expected to reverberate through the economy for years to come and could supercharge private investment in the nation's clean energy sector.
Bank of America is moving three months early on its most recent plan to raise its hourly base pay. “Until the labor market eases, the weight of wage growth is going to be strong,” CEO Brian Moynihan said during a CNBC interview.
The San Francisco bank is following the lead of other U.S. megabanks by providing shorter-term targets ahead of 2050 climate pledges.