Allissa Kline is a Buffalo, New York-based reporter who writes about national and regional banks and commercial and retail banking trends. She joined American Banker in 2020 and previously worked for more than a decade at Buffalo Business First, where she covered banking and finance, insurance and accounting. Kline started her journalism career at the Observer-Dispatch in Utica, New York. She graduated from Colgate University and the S.I. Newhouse School of Public Communications at Syracuse University.
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The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.
May 4 -
About $2.9 billion of the deposits the company obtained from the failed Signature Bank had fled as of last week, and executives are forecasting that number to double. However, they say they're "cautiously optimistic" they can lure some deposits back.
April 28 -
The groups also want regulators to downgrade the Cleveland bank's rating under the Community Reinvestment Act. The demands represent an escalation of a dispute over whether Key fulfilled promises it made under a 2016 community benefits agreement.
April 27 -
The Charlotte, North Carolina, company plans to fold the online consumer lending platform LightStream into its broader consumer business. On top of a recent pullback in bond trading, it may also make further reductions in its mortgage business and occupied real estate.
April 20 -
Executives at the Minneapolis bank responded to a research report that highlighted the decline in a key capital ratio after an acquisition last year. They don't plan to raise capital but aim to generate more of it from earnings in coming quarters.
April 19 -
William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.
April 13 -
Two years ago, the parent company of Silicon Valley Bank promised $11.2 billion in community development support. Activists want First Citizens, which acquired much of the failed bank, to fulfill the commitment.
April 2 -
Lenders had started tightening as early as the fourth quarter in anticipation of a possible recession. Now, the banking crisis is driving community and regional banks in particular to hit the brakes harder, stoking renewed recessions fears.
March 28 -
After a bank run led to Signature Bank's failure, New York Community Bancorp bought much of what was left from the FDIC. The acquirer now faces questions about how it will persuade the remaining depositors to stick around.
March 20 -
Shadows loomed over Credit Suisse and First Republic early Thursday, but the sector outlook brightened after billions of deposits were pledged to the U.S. bank.
March 16
