Laura Alix

Business lines south of the border, led by a diversified commercial banking unit, contributed more than 40% of total earnings at Bank of Montreal over the past 12 months. Company executives now see an opportunity in selling wealth management services to commercial clients.

Though the Providence, Rhode Island, bank is in the midst of three deals, CEO Bruce Van Saun said it remains on the lookout for other nonbank purchases that could help boost fee income and generate cross-selling opportunities.

More than 70% of U.S. bank workers expect their employers to allow some flexibility about where and when they do their jobs, according to a new survey from Arizent. The findings suggest that to attract and retain talent, banks will have to continue work-from-home arrangements that became standard during the pandemic.

Last year, many banks made big, splashy pledges to advance racial equity. Now some of those banks are seeking to hold executives accountable for those efforts through their paychecks.

Unsecured personal lending has fallen as many consumers have stashed away cash and paid down credit card balances during the pandemic. The trend probably won’t reverse course anytime soon.

Efforts to diversify boardrooms have taken on new urgency this year as racial unrest called attention to income inequality and pressure mounted on banks and other publicly traded companies to do something about it.

Several companies said this week they’re slashing expenses as the economy limps along. Others would prefer to keep investing in new technologies to better gauge which changes in consumer behavior will stick.

Institutions large and small are either creating new positions or elevating existing diversity heads to C-suite roles. Will the moves help banks improve equality within their ranks and better serve their communities?

The funds will be used to support housing, job training and aid for small businesses in communities that have been disproportionately affected by the pandemic.

While many institutions are taking protective steps, others want to stay open to promote public confidence in the banking system.

The bank has been slashing expenses, but executives acknowledged they remain high. Between having to hire thousands of compliance employees and waiting on the next CEO to be named, investments in new technology or other long-term growth are limited.

The interim CEO told analysts Tuesday that the company remains committed to hiring an outsider who isn't connected to its scandals of recent years.

Judging by day one on social media, you’d think the new Truist brand was a flop. But marketing and branding experts say the name has a lot going for it. What matters most will be how the two banks advocate for the name.

The technology provider to financial advisers is partnering with Advisor Credit Exchange to help them connect their clients with banks and nonbanks for consumer and business loans.

The stars aligned for the two longtime rivals to join forces, and some observers speculate that other regional banks will need to strike similar partnerships if they hope to remain competitive. But others say such deals are rare because they're hard to pull off.