Huntington Bancshares has hired Shawn Lough, a veteran Truist Financial banker and West Point graduate, to help guide the sales strategy and goals of its consumer and business banking operation. It also expanded the duties of Digital Director Mark Sheehan to include deposits.

Most of the companies announcing cuts declined to disclose how many workers they terminated, although publicly traded giants revealed their moves would save them tens of millions of dollars this year.

The San Francisco megabank plans to reinstate guidance that drew scrutiny following revelations that women and nonwhite candidates were interviewed for jobs that had been reserved for someone else.

A bank club led by Morgan Stanley has posted the steepest discount on a leveraged loan so far this year as Wall Street institutions struggle to lock down buyers for risky debt amid mounting recession fears. 

The Tokyo-based company has named Masatoshi Komoriya executive chairman of the board of directors for MUFG Americas Holdings Corp. and its U.S. banking subsidiary. He begins his new role on June 30 while retaining existing executive duties.

Industry leaders suggested they’ve "never felt so worried at a time when everything feels so good otherwise," said Chris Herbert, managing director of the Joint Center for Housing Studies of Harvard University.

Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.

Wells Fargo, U.S. Bancorp, Truist Financial and PNC Financial were among the banks that said they are raising their prime lending rates from 4.0% to 4.75%.

Citigroup and Bank of America have teamed up with five other banks to form Octaura Holdings, an electronic trading platform for syndicated loans and collateralized loan obligations.

Wyndham Capital, Open Mortgage and reverse mortgage lender American Advisors Group eliminated jobs this week.

The American Bankers Association’s credit conditions index fell sharply, as economists foresaw dampening loan demand. The weaker outlook lines up with major bank CEOs’ increased worries over a possible recession.

Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.

Some firms are undergoing their second or third rounds of terminations since the beginning of the year.

Executives at banks north of the border pointed this week to several potential U.S. economic snags, including inflation, the possibility of a housing market correction and soaring energy prices.

Corrigan thrived on crisis situations, a colleague said. He received plenty of practice in 25 years at the Fed and another two decades at Goldman Sachs.

Only about 31% of the bank’s shareholders voted Tuesday in favor of a nonbinding “say on pay” resolution. The harsh verdict followed a one-time award of $52.6 million in stock options to keep Chairman and CEO Jamie Dimon on the job for five more years.

Completion of U.S. Bancorp’s $8 billion acquisition of MUFG Union Bank, originally slated for June, has been pushed to the second half of 2022, the seller’s parent company says.

GradFin offers advisory services to Americans who want assistance with their student loans. The acquisition is part of the Cleveland bank’s strategy of adding niche digital businesses.

In a recent survey, just over half of community bankers expressed concern that the central bank will harm the U.S. economy by raising rates too fast in its quest to contain inflation.

The bank didn’t disclose which specific employees, or how many, were impacted by the announcement.