Corporate governance

In the wake of Hurricane Ida, the latest storm to batter the Gulf Coast, John Hairston is grappling with the consequences of a warming planet. He suggests that it's imperative for banks and their regulators to be part of the solution.

Alastair Borthwick, the president of global commercial banking, will succeed Paul Donofrio, who is transitioning to a new role as head of sustainable finance. The company also appointed three women to its executive leadership team.

Fitch says it will be weighing failures of management standards and practices at banks more heavily when considering possible downgrades. ESG advocates are cheering the development.

Citigroup said a full review conducted after the lender mistakenly sent $900 million to a group of investment firms concluded the bank didn’t need to claw back any pay from executives.

UMB Financial’s success in aviation financing has boosted fee income, and the Missouri company has opened an office in Dublin — a hub for airplane sales and leases that could get busier as the airline industry restructures.

The company, poised to complete its purchase of Radius Bank, will enjoy new cross-selling opportunities, gain additional sources of fee income and capital as well as benefit from greater regulatory clarity, CEO Scott Sanborn says.

The Federal Reserve is credited with containing damage to the financial system from the coronavirus pandemic, but experts say the limits of the central bank’s power to prop up the economy will likely become more apparent in the new year.

The former FDIC chief oversaw the resolution of hundreds of failed banks during the financial crisis and knows how to build relationships with regulators. Those skills could be crucial in helping Fannie exit federal control.

One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship.

Wells Fargo is exploring a sale of its corporate-trust unit that could fetch more than $1 billion and is considering whether to find a buyer for its student loan portfolio, according to people familiar with the matter.

Apollo Global Management Inc. board members are investigating co-founder Leon Black’s ties to disgraced financier Jeffrey Epstein after more information emerged this month about their longtime business dealings.

Goldman Sachs Group shuffled its business lines and announced a raft of management changes, carving out new divisions aligned with a strategy pivot unveiled earlier this year.

For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse.

As home loans surge and lenders look to expand, they're doing a cost-benefit analysis on the possibility of opening more commercial locations.

The company said it had cut 20 positions and found a way to shed 35,000 square feet of office space by the end of 2020.

Periods of significant loan defaults are tough on banks and force unpleasant choices. Here are steps to evaluate collateral in such uncertain times.

The OCC and FDIC are holding off on easing debt limits in response to the coronavirus pandemic, leaving billions of dollars locked up at banking subsidiaries that could be used for lending amid the deepening economic crisis.

Nonbank financial firms spent years lobbying against tougher regulation and stricter capital requirements, arguing they didn't pose a risk to the financial system. Now, many of those companies say they are in desperate need of a bailout.

The actions include cutting the federal funds rate to between 0% and 0.25% and other steps to ease economic stress from the spread of the coronavirus.

The North Carolina company will hold onto the loans after the Fed's decision to slash interest rates.