Joseph M. Otting will step down from leading the Office of the Comptroller of the Currency roughly half-way through his five year term, the banking regulator said Thursday, one day after it finalized a controversial sweeping change to the rule governing the enforcement of the Community Reinvestment Act.
Lloyds Banking Group treated shareholders tuned into its annual meeting Thursday to the news that dividends they have missed due to COVID-19 may not be lost forever.
British insurer Aviva on Thursday reported a 28% spike in life insurance sales as the industry sees a surge in demand driven by the coronavirus pandemic.
Credit Suisse will make coronavirus antibody tests available to its employees in Switzerland under a pilot program, a spokesperson for the Swiss bank confirmed Thursday as the bank reportedly gears up for a phased return to its offices.
Italian insurance company Assicurazioni Generali on Thursday became the latest insurer to post lower profits for the first quarter as the economic impact of the COVID-19 pandemic starts to come into focus, confirming that its €113 million net profit is way down from last year's first quarter profit of €744 million.
An E*TRADE shareholder is seeking to stall the discount stock broker’s $13 billion merger with Morgan Stanley, alleging in proposed federal class action that its board of directors misled shareholders in its efforts to garner support for the deal.
Insurance companies QBE and Aviva are being targeted in a class-action lawsuit over business interruption policy coverage for coronavirus-related shutdowns that’s brewing in the U.K., attorneys said Wednesday.
HSBC’s asset management division and the International Finance Corporation have raised $474 million for a green bond fund geared towards investing in emerging markets’ real sectors, the banks said Wednesday, as the popularity of socially conscious investing continues to grow.
As the economic fallout from the COVID-19 pandemic in the U.S. becomes more apparent, nearly 15 million credit card accounts and 3 million auto loans were in deferment programs in April numbers released Wednesday by TransUnion show.
Deutsche Bank chairman Paul Achleitner said Wednesday he won’t seek reelection when his term ends in 2022 after facing dogged shareholder criticism for failing to right the bank, which has seen five straight years of losses.
The Commodity Futures Trading Commission has updated its guidance on enforcing civil monetary penalties for the first time in 16 years, as it pursues more misconduct cases both in number and severity, the federal derivatives markets regulator said Wednesday.
Bank of America said Wednesday it issued a $1 billion bond to fund coronavirus relief efforts. The bond is the first of its kind offered by a U.S. commercial bank as analysts see a surge in social bond issuance spurred by the pandemic.
The Office of the Comptroller of the Currency on Wednesday published the final version of a rule overhauling how banks are judged under the Community Reinvestment Act, which the agency described as the most significant change affecting the law in 25 years, without the backing of other federal banking regulators.
The European Central Bank is stepping up its expectations for how banks track and report environmental risk with new guidelines proposed Wednesday that ask lenders to assess the climate-related risks in their business strategy, governance and risk management and disclose them.
JPMorgan Chase is reportedly entering the New Zealand equity capital markets through a new strategic alliance with Craigs Investment Partners, one of the country’s largest investment advisory firms.
Sony said Tuesday that it will spend $3.7 billion to acquire full control of its banking and insurance unit, Sony Financial Holdings Inc., bucking recent criticism that its portfolio of companies is too varied to attract investors.
Former Lloyds Banking Group chief financial officer George Culmer has been promoted to serve as the new chairman of Aviva as the company grapples with questions around structure and COVID-19, the British insurer and asset manager said Tuesday.
JPMorgan Chase & Co. shareholders elected all 10 directors nominated to the board despite pleas from environmental groups and pressure from the New York City Comptroller to oust former ExxonMobil boss Lee Raymond.
Citigroup’s investment banking division has created a new group that will focus on environmental, social and governance factors for clients, the division’s leaders announced Tuesday in a memo to staff as banks face increasing pressure to provide socially responsible investment options.
Santander Consumer USA has agreed to pay out roughly $550 million to end an investigation by 34 attorneys general who claim that the company arranged subprime auto loans for borrowers it knew were likely to default.