Practice management

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 lawsuit filed by the Philadelphia company's CEO claims an opposing board faction lacks a quorum. Hill seeks to bar the group from reinstalling founder Harry Madonna.

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.

The Silicon Valley fintech expects to make $1.5 billion in auto loans this year after implementing key elements needed to achieve scale, said CEO David Girouard. The expansion comes as the automotive market continues to boom.

A clash among FDIC board members has intensified a debate about whether regulators should take a tougher look at large M&A deals. House Financial Services Chair Maxine Waters added to the frenzy by calling for a moratorium on approving big acquisitions.

Business and regulatory pressures were already weighing on aging executives before the onset of the pandemic led many to delay retirement plans. Now as the crisis eases, an increasing number are finally stepping down.

In a semiannual report on trouble spots in the banking sector, the Office of the Comptroller of the Currency raised concerns that banks are taking on too much risk in pursuit of earnings growth.

The two companies will integrate platforms to streamline sales in the single-family, build-to-rent property market.

The chair of the Federal Reserve said the backlash over the personal financial transactions of two Fed bank presidents — made when they were privy to discussions about the central bank’s coronavirus response — demonstrated that internal guidelines can be bolstered to avoid the appearance of conflicts.

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.