Will Citigroup CEO Jane Fraser’s push to centralize control pay off?
Fraser has a plan to reduce the number of management layers at Citi, shrink its workforce, speed up decision-making and give herself more control of the bank’s five core businesses. “It’s going to make some of our people very uncomfortable,” she said.
Consumers are expected to keep the U.S. out of recession, Moynihan says
Bank of America CEO Brian Moynihan said that consumer activity has slowed throughout the year, but should remain strong enough to position the economy for growth later in 2024.
Goldman Sachs joins consortium for securities position reporting
The bank has joined with four other financial giants — including Barclays, BNP Paribas and HSBC — to launch Endoxa, which will enable the firms to use technology to standardize their approaches to compliance.
Why U.S. Bank committed to charitable-cause card rewards
Cash remains king, but some credit card customers prefer giving their rewards to nonprofits, so the Minneapolis banking giant has made it a year-round option where it's matching donations dollar for dollar.