#banking

This is the worst bank ive come across. Everyone agree?

Sen. Elizabeth Warren is about to take the controls of the Senate Banking Committee, giving her the kind of expansive authority over the financial industry she has long sought

https://www.housingwire.com/articles/warren-senate-banking-chair/

Wells Fargo has announced further job cuts, impacting 173 positions in Iowa and Virginia. These layoffs are part of a larger trend at the financial institution, which has reduced its workforce by over 10,000 employees in the first nine months of 2026. The company's actions come despite reporting strong earnings and revenue growth in the third quarter. These reductions are aimed at streamlining operations and focusing on future growth areas. Wells Fargo will provide severance and transition assistance to affected employees.

https://www.thestreet.com/employment/wells-fargo-announces-more-layoffs-as-workforce-shrinks-by-over-10000

Northpointe Bank has announced significant permanent layoffs affecting 338 employees. These job reductions will impact staff across three of the bank's locations. The company's Grand Rapids headquarters and its 28th Street branch are among the affected sites. This decision marks a substantial workforce reduction for the financial institution. The exact reasons for these widespread layoffs were not detailed in the announcement.

Grand Rapids, Michigan

https://www.wzzm13.com/video/news/local/northpointe-bank-announces-permanent-layoffs-for-338-employees/69-df5e1a3c-e8f0-41c7-b328-cb30939545b7

Does anyone know why on fms there are such low volumes recently? Should we be worried about layoffs?

As banks' compliance teams face a growing deluge of alerts, they need to distinguish suspicious from legitimate behavior quickly and confidently. Chartis Research has again named SAS a Category Leader in its AML Transaction Monitoring Solutions, 2026: Quadrant Update.

In Chartis' latest evaluation of the industry's 49 foremost providers of anti-money laundering solutions, SAS® Anti-Money Laundering on SAS® Viya® earned best-in-class ratings in four of the report's seven capability assessments.

Chartis also recognized SAS' advanced capabilities in workflow automation; solution packaging and deployment; and speed, volume and performance.

JPMorgan Chase has announced an additional 91 layoffs at its Jersey City location. This latest action brings the total job cuts disclosed in the area this year to 632. The company states these adjustments are part of regular business management and staffing reviews. JPMorgan Chase emphasizes its commitment to New Jersey, noting over 12,500 employees and numerous open positions. The firm is actively working to redeploy affected employees.

Jersey City, New Jersey

https://www.nj.com/business/2026/11/nj-bank-announces-more-layoffs-as-job-cuts-top-630-this-year.html

$35,000 at 4% earns ~$1,400 a year. In a non-interest checking account: nothing. At the national average savings rate (0.38%), $20,000 earns just $76 a year.

Source: FinanceBuzz, Sep 2026.

I was a VP and received $800 - $1000 bonus during my tenure here. Im now at a new bank and my bonuses are huge! Was $800 - $1000 the norm for bonuses?

Anyone else struggling to get info on ACH payments? The payments area keeps losing staff and no one can answer questions

SCOOP: Major U.S. banks are detecting unauthorized third-party AI agents inside customer accounts, including some attempting to take actions that appear to be independent of user instructions, sources told Axios.

The findings have alarmed banking executives, who are racing to restrict access to their systems as AI moves at a velocity faster than financial institutions can respond, multiple industry and bank executives told Axios.

Several banks are now preparing for worst-case and even “day after” scenarios, including how to rapidly secure or restore customer accounts if things go wrong, the people said.

Several bank executives told Axios they're struggling to distinguish between human users and AI agents. One executive said banks also struggle to determine whether agents are authorized by customers or potentially operating without their permission, more akin to rogue agent behavior.

https://www.axios.com/2026/10/22/ai-agents-banks-unauthorized-accounts-access

So with the next report that they run on November 1st, will these be the weeks that are included?

Week 1: Oct 25 - Oct 31
Week 2: Oct 18 - Oct 24
Week 3: Oct 11 - Oct 17
Week 4: Oct 4 - Oct 10
Week 5: Sep 27 - Oct 3
Week 6: Sep 20 - Sep 26

The keyword is “rolling”. A rolling six-week period is a continuous, moving window of six weeks, where the oldest week drops off as a new week is added, often used for tracking attendance or compliance. This differs from a fixed six-week block because the period is constantly updating.

Can someone please explain this mo--nic “ Commercial Banking “ platform led by CW …? This sht show hasn’t done anything commercial in 30 years… these mindless roadshows with flag wavers and bo--y li---rs… come on folks…! Trollers and drones please join in…!

Is there an end in sight?

The head of the Office of the Comptroller of the Currency (OCC) declared Wednesday that his agency uncovered "irrefutable evidence that the nation's largest banks have denied, debanked and discriminated against customers and lawful businesses," including over political views.

Comptroller of the Currency Jonathan Gould made the remark after the OCC said it investigated debanking activities at the nine largest banks it supervises: JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank, TD Bank and BMO Bank. The practice of debanking is the denial, restriction or closure of an individual’s or organization’s access to banking services.

The 47-page OCC report found that in February 2021, under the Biden administration, "a payment processor owned by one bank closed the account of a merchant that sold merchandise promoting President Trump and the Make America Great Again (MAGA) brand." And two years later, "one bank declined to provide financial services to a public education organization due to its partisan leanings — namely, the organization’s political arm’s endorsement of solely Democratic candidates."

https://www.foxbusiness.com/politics/us-regulator-accuses-nations-largest-banks-debanking-customers-over-political-views

News of BAC's $1.2B loss hit the wires two nights ago. Did this news rattle operations at BNY? BNY has a large operating presence when it comes to sanctions screening. Senior Management, along with Heads of Compliance and Sanctions Operations, must have taken note of what happened as this is the third largest penalty ever imposed on any business with sanctions/money laundering violations. Operations, particularly with sanctions-oriented processes involving FinCEN and OFAC, have continually experienced losses in personnel from various US sites. Many knowledgeable employees in departments associated with Compliance and Operations, have been let go. The replacements are coming from offshore sites, primarily India. Hiring is cheap but the overall work is, and always has been, below average. Management shouldn't shrug off this fine as nothing. They should focus on happened to BAC and ensure it doesn't happen to them.

Reminder: WF may be bad; Citicorp and BoA have their own big problems too. Most large banks straddle the edge between lowering headcount and getting a compliance fine. Sometimes they fall off.

AS of current price today 10/13 BNY is down $10.43 per share or 6.9% over past 3 months (7/13 to 10/13). same period of time JPM up $00.69. I don't think the negative trend is sector related.

Curious to know what bonuses look like for everyone at Citi. I was a VP, and my first year I received no bonus at all. In the years that followed, my annual bonuses typically ranged from $800 to $1,000.

I’m interested to hear what others have received, particularly those at the VP level. Were my bonuses unusually low, or was this pretty standard across the bank?

I haven't seen any change since the new CEO came on board... This place is a sinking ship and now I don't hold any hope now. In my view a takeover is inevitable.

What is your thoughtful guess of whick bank will take over Truist?

Actually I think citi makes a lot of sense.

By American bankers association. Thoughts? Unbelievable

I’m new to thia bank and trying to understand how the risk organization is structured here.

On my current project, I’m the only Product person, but I have six different risk people reaching out to me—often asking very similar questions with what seem to be overlapping responsibilities.

I’m genuinely trying to understand the rationale. If I’m the sole Product person supporting the program, why isn’t there one primary Risk lead who owns the overall program and coordinates the different risk functions?

Coming from other banking organizations, this setup feels very different. I’m curious if anyone else has experienced this or can explain why banks structure Risk this way. Is there a specific regulatory or organizational reason for having so many separate Risk contacts?

And honestly, from the outside, it can feel like a pretty cushy setup when one Product person is coordinating with six different Risk people.

Wells Fargo & Co. has hired JPMorgan Chase & Co. investment banker David Harkin to advise on technology deals, according to a person familiar with the matter.

Harkin, who had been co-head of Internet investment banking at JPMorgan, will be based in San Francisco and report to Brian Gudofsky, Wells Fargo’s head of TMT Investment Banking. Harkin will be a managing director and co-head of technology alongside Tej Shah.

https://www.bloomberg.com/news/articles/2026-09-29/wells-fargo-hires-jpmorgan-s-david-harkin-to-co-lead-tech-deals

Source: my director

Our bank paid for these 3 clowns to be recognized. It’s not earned, it’s paid off recognition. These 3 witches are making our lives miserable.

When someone asked which bank is horrible? The reply was almost always Wells Fargo. Now it appears Truist has unseated them as the worst bank. 99% of people seem to say Truist when asked that question. Does this ring true in your area?

You can't get high quality for pennies on the dollar. You can't. What you get is so bad that it's dragging the bank down and costing us much more than it's saving. That's just the facts.

So Robin the face of banking AI is seeing a 10% share price drop over the last 3 weeks despite being such a grandiose pioneer and spokesperson for AI. Meanwhile, the markets are all up on AI and so are other banks.
Are the lead weight lies finally bringing this down?
There are likely very angry calls from the warlord to the People’s team leadership to adjust headcount ….

Bank of America expands apprenticeship program with 1,000 new hires | Fox Business https://share.google/lCADGQtJ2JJue55jc

This is what they do- force out the high paying or tenured employees and bring in apprentices and pay them so much less

anyone else hear talk about us getting a call center for the debit card program?

Truist Financial Corporation is selling its near-prime auto loan portfolio for over $5 billion. This strategic move has resulted in the closure of its auto loan subsidiary's office in Arlington, Texas. More than 200 full-time employees at this location will be laid off as a consequence. The company is providing support to affected employees, including severance and job search assistance. This decision aligns with the new CEO's strategy to streamline operations and focus on core strengths.

Arlington, Texas

https://www.dallasnews.com/business/jobs/article/truist-auto-loan-exit-triggers-205-arlington-22434850.php

Just saying!
All major contracts have been renewed!
Bank of America is going to become Bank of India 🤡

Anyone know anything about what’s happening in wealth management? Seems like teams are being thinned out and not being replaced
this seems to be more for bank side and tech but I just found this page

The Office of the Comptroller of the Currency has begun a new series of layoffs. Federal employee union representatives confirmed the job cuts. Reduction-in-force notices were distributed to employees on Wednesday. The exact number of affected staff and their departments remain undisclosed. Previous staff reduction plans included a buyout offer.

Washington, D.C.

https://news.bloomberglaw.com/banking-law/national-bank-regulator-begins-new-round-of-layoffs-union-says

Bank of America's chief executive stated that artificial intelligence tools have generated $800 million in benefits. These AI solutions are helping the bank grow without increasing its workforce. This development aligns with a broader industry trend of leveraging technology for efficiency. Other financial institutions are also exploring similar AI applications. The bank is focused on using AI to enhance its operations and financial performance.

Charlotte, North Carolina

https://www.bizjournals.com/charlotte/news/2026/09/16/bank-of-america-ai-avoid-layoffs-brian-moynihan.html