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2020 was a challenging year for banks. The impact of COVID on the economy as well as changes to accounting for loan loss provisions were evident in weaker financial and stock price performance in 2020 for many banks and yet CEO compensation increased. Learn from experienced executive compensation consultants about the challenges Compensation Committees faced in 2020, why pay levels increased relative to 2019, what were common COVID-related compensation changes, and what changes were made for 2021 incentive plan design.

The program, announced last October, looks to provide services to minority-owned banks and credit unions so they can increase homeownership rates in their communities.

Housing experts and advocates disagree on the biggest factor in advancing the Black homeownership rate — and that's part of the problem.

“Our goal is by after Labor Day to effectively be back to where we were in January of 2020,” Chief Executive Brian Moynihan said.

Also, MBA adds to its advocacy team, Grandbridge builds out its originations network, Bravo Capital gets new underwriting leadership and more industry changes.

The former senior vice president and credit officer takes over the role that Andrew Bon Salle left at the end of 2020.

Nonprofits connecting Historically Black Colleges and Universities to mortgage career education courses seek to increase the number of Black professionals in the field, who in turn may help to increase homeownership among underserved populations.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.

Estimates suggest the government-sponsored enterprises did encourage increased lending to this demographic last year but ran into challenges related to the pandemic's impact and their own fluctuating business models.

The programs from the trade group are aimed at helping the bank improve its employee representation and workplace culture.