The trials of the past year required herculean efforts on the part of bank employees to meet their clients’ needs, and they have taken a toll on many bankers. Jennifer Young discusses TD Bank’s “full well-being approach” to supporting employees. 

Some branches are closing but that doesn’t mean reduced access to banking services, especially in lower-to-moderate-income neighborhoods.

New standards designed for the digital era would strengthen security, prevent fraud and finally give consumers more control over their money.

U.S. dollar Libor will officially come to an end starting this year. With just months to go in the transition effort, banks face a variety of challenges.

In February, consumer credit increased at a seasonally adjusted annual rate of 7.9%. Revolving credit increased at an annual rate of 10.1%, while nonrevolving credit increased at an annual rate of 7.3%.

Customer satisfaction with direct banks—those without a branch network—declined 12 points from last year, falling to 852 on a 1,000-point scale, according to a new survey by J.D. Power. The U.S. Direct Banking Satisfaction Study, now in its fifth year, found that the decline in satisfaction was due in part to historically low interest rates and a tough economic environment.

The Financial Stability Board is in the process of building a “roadmap” to coordinate work being done on climate-related financial risks, FSB Chair and Federal Reserve Vice Chairman for Supervision Randal Quarles wrote in a letter to G-20 finance ministers.

The Federal Reserve issued its final rule codifying that regulatory guidance does not have the force and effect of law, granting much of a joint petition filed by ABA and the Bank Policy Institute that sought a formal rulemaking to ensure that banking organizations would not need to rely on a 2018 interagency statement to clarify the role of guidance.

ABA joined the Bank Policy Institute and the Securities Industry and Financial Markets Association in a letter to the federal banking agencies providing feedback on recent proposed changes to the Call Report. Among other things, the groups raised concerns that several of the new reporting items are duplicative of existing requirements, such as data on sweep deposits that firms already report in the FR 2052a.

The Federal Emergency Management Agency has announced sweeping changes to the National Flood Insurance Program that will fundamentally alter the way it prices insurance and determines an individual property’s flood risk.

In late March, the Consumer Financial Protection Bureau  rescinded seven policy statements that provided temporary flexibilities for financial institutions when serving customers during the COVID-19 pandemic.