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Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

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%.

Also, MISMO names new president, Mr. Cooper appoints chief officers, Cenlar, Dovenmuehle add to servicing teams and Fairway goes in on reverse lending.

The company counts nearly 2,000 employees on LinkedIn, and operates two wholesale divisions alongside the impacted retail channel.

The San Francisco bank said the move is designed to "foster closer alignment with the shareholder experience and signal commitment to the bank and all of its stakeholders." The company's stock price has fallen 89% this year, and government officials have reportedly been working with industry leaders on a rescue deal.

Harold Lewis, the former president and chief operating officer of the organization now known as Mr. Cooper, will fill the same role at the company he's joining.

Current president Terry Schmidt will replace her on July 1, while COO David Neyland also receives a promotion.

The mega-lenders headcount was 5,194 at the end of the fourth quarter

Benefits like paternity leave are more widely available in the field but there's further to go, industry stakeholders say.

More than half of pandemic gains have been erased, but how the mix of stronger than expected overall employment and other developments will affect rates remains uncertain.