#banking

this happened to me with Wells Fargo and I decided I had to break up with them after half my life banking with them. my conversation with customer service was hilarious though:
WF: can I ask why you're leaving us today? me: your interest rates are making me broke WF: I can totally understand that. let's continue with your cancellation

Does anyone know when the 2026 RSUs that were awarded will show in our benefits online account?

major multi thousand job cuts at morgan stanley and CITI... the job market just got exponentially worse for all of us in banking...

Morgan Stanley - March 2025 Layoffs Summary (some selected post)
https://www.thelayoff.com/t/1kjyfj53s
@OP+1kjyfj53s

CITI Layoffs
https://www.thelayoff.com/t/1kjyf4pkj
@OP+1kjyf4pkj

Today, big layoffs were announced at Citibank & Morgan Stanley. USAA.....

https://nypost.com/2026/03/04/business/ardith-lindsey-suing-citigroup-slams-firms-investigations-unit-as-internal-hit-squad/

https://www.advisorhub.com/layoffs-hit-citi-jpmorgan-wells-fargo-and-lpl/

Layoffs 20% in next 3 months.

The largest employee migration in Bank of America Company’s history has begun following the February bonus and 401(k) contributions. While some employees are waiting until the end of March for their RSUs to vest, many senior leaders are departing after receiving substantial bonus payouts.🤫

So today was the first day of phase 1 of this bank restructuring/re-org. Not only was my team disbanded, but our BA & BBPC were impacted on January 28, and those 2 did a ton of work and were the main reasons we were able to closeout our 6 issues on time last year. With them now gone, someone has to pick up that work, so it landed on ME! So now I’m on this new team, handling a different product, so not only I’m I having to learn this product, but the work from our BA & BBPC still falls on me, I asked my new ED about this, she only said “we haven’t fully thought all this out yet, but stick with us, we’re all learning on the spot.”

Learning on the spot, what genius thought this re-org was a great idea? Was it Mike Moran and the 3rd party consultant group he brought in last year? This is going to be a huge cluster f_ck before it’s all said and done.

In the long run, we'll all work for ICBC

6 out of last 7 yrs no profit. two key dates. Market crashes right around 3:16. 4:1 is a critical date b/c if MoA is not in the black by then turning a profit, it's almost lights out, game over for the firm. It's not funny. 1st quarter numbers can not be overstated. Be transparent. B-E-transparent. Rich said profit by Q4 2026 & he needs to be held to his own standard. If we are $5-$10M in the negative as of 4/1 firm will have a tough time the rest of year & to quote sleepy Joe, "it's not a joke."

I told a stranger I work at WF
And they said "must be nice to handle large amounts of cash"

I like how the bank sits on our money earning interest for a week prior to paying it out. Should be criminal.

There are quite a few rumors circulating, so I wanted to check if anyone else has heard anything.

2013 changes to risk capital largely led banks to withdraw from the market. Now its companies like Rocketmortage. This has led to higher mortage rates because banks have cheaper funding (deposits).

Fed is going to change the rules so to incentivize banks to re enter the market, both the risk weights for mortages and mortage servicing rights.

Itll be a growth market for banks.

Too bad chainsaw charlie doesnt know how to grow a business and after 5 years of bi weekly thrashing to the corporate culture no one wants to work at Wells Fu----u

Citi did extraordinary well in 2025 and made it's position top among global banks and J got a 42 million etc but how did it happen? They are cutting left and right, people are overworking, or not working (like me,got fed up with lowest rating). So it's the FEAR which is working, is it?

Going to be small but Community and Commercial banking are going to lose some Executive Directors and possibly one Managing Director.

I'm a relationship banker at a truist branch. I got a licensed banker role with chase and will be giving notice next week. Does truist typically make bankers work out their last 2 weeks?

End of the world layoffs…..

https://youtu.be/t5fXrPMGM5E?si=hO8v3Y_IIifqKTdb

https://money.usnews.com/investing/news/articles/2026-02-13/bofa-ceo-brian-moynihans-pay-rises-to-41-million

The tech middle to upper management were they have an understanding from a technology perceptive of things but no concept on client delivery/product functionality/product use case is so useless. Please hire additional leadership and get leaders that are from the banking space and understand the market we are in.

They don't code so they don't make money, they have no domain knowledge except vaguely what every product does, and their ideas for improving products are not aligned with that clients are asking for.

This company should be focused on client delivery from top to bottom. We will never be one of the worlds greatest software companies, but we can be the worlds best banking company.

If you were gifted the 6 BNY stocks in 2023, friendly reminder that today is the day they become unrestricted, and the shares are now available to sell. ; )

Too many weird financial requests for information from 2-3 years ago. Stop telling us "Audit requests" or "forecast" we are not that stupid, since prior fiscal years have already been audited.

Those losers who didn't listen are hiding in bathroom now... Next wee or so the rest of 12-15%.. Another 5% by EOY. 35% NFTE by EndOfYear.

Some Ds and NY area staff today.

Imagine you are an AI agent. Explain BOA culture with specific examples

What is happening with the Bank Ways of Working announced yesterday in the town hall? When are we getting more information?

Hello, Does a Team Member Checking stay a Team Member Checking through the 60 day Non working employee period? Is it possible it could stay a Team Member Checking for the other 12 months of severance when the 60 days expires? BTW, Wells Fargo has excellent service for check ordering. I was worried with the Ice and bad weather it may take more than 10-14 days for my checks to arrive. I received them today. Thank you Wells Fargo and your check supplier.

Heard some rumors layoffs happened today. Any validity to that? TAS and mortgage were mentioned.

Fifth Third Bancorp officially acquired Comerica Incorporated. The deal was valued at $10.9 billion. Layoffs are expected following the acquisition.

https://www.woodtv.com/news/michigan/fifth-third-officially-acquires-comerica-in-10-9b-deal/amp/

i walk in, log into MS Teams, and talk to people who are halfway across the world. i don’t even know what they look like, and most of them are contractors

https://www.freep.com/story/money/business/michigan/2026/02/02/fifth-third-finalizes-purchase-of-comerica/88474021007/

Fifth Third Bancorp finalized its purchase of Comerica Bank. The deal officially closed on Monday, February 2.

Rebranding of Comerica branches to Fifth Third will begin in September.

This all-stock deal was valued at $12.3 billion.

The Federal Reserve and shareholders approved the deal last month.

If you’re in Global Ops you received a 226 page document that apparently shows the entire nation of India got a title promotion. Wild stuff.

sooo who are the lucky ones that got to become an AVP today

Like the song by Calvin Harris ft. Ne-Yo - "Let's Go"

Please see these 4 posts and quotes from other threads.

From the Washington Post (April 2, 2023): “Feel free to spill the beans, ex-employees. Your former boss can’t stop you.”
https://www.thelayoff.com/t/1kgea4gzm

From the NLRB (Feb 21, 23): "Board Rules that Employers May Not Offer Severance Agreements Requiring Employees to Broadly Waive Labor Law Rights
https://www.thelayoff.com/t/1kgeacnt5

From the NLRB about "Concerted Activity"
https://www.thelayoff.com/t/1kgeakdsm

From the NLRB about "Social media"
https://www.thelayoff.com/t/1kgeb10b8

Quotes:

March 6, 2025
https://www.thelayoff.com/t/1jnq61rxs
"Unethical conduct needs to be exposed
BNY is force ranking long tenured employees with PM or BE and depriving them from the Severance, it so disgraceful towards people who have given so much to the company none of the past reviews matter. We should report this in social media if we do in number that will speak for itself…. When we don’t have NDA what are we loosing?"

June 9, 2025
https://www.thelayoff.com/t/1jwysz9hk
"time for managers to take a stand. Bullsh-t that good employees now being called underperformers to not pay severance. UNETECHAL.

COMPANY NEEDS TO PAY OR GET CALLED OUT"

June 11, 2025
https://www.thelayoff.com/t/1jwysz9hk
"Until we band together as a large group nothing is going to change. And I don't see enough people with a backbone willing to to this. Too many sheeple afraid of losing their jobs. Well most of us are probably going to lose them anyway so might as well fight for it instead of lay down."

June 27, 205
https://www.thelayoff.com/t/1jygkgb3m
"We need to get together and start a forum to keep in step with their plan of “reduce staff with minimal expense” (don’t pay severance)
Power in numbers .
Could someone set it up ?Or should I ? Is there interest???"

September 3, 2025
https://www.thelayoff.com/t/1k47t0dan
"This place is toxic

They’re trying to break us so we leave and they dont have to pay severance. We have all experienced it or witnessed the behaviors. , U.S staff treated like 2nd class citizens, wrongful terminations, intentional forced ratings etc. The list goes on and on. Its not going to stop until we all come together and try to do something. We need to report them to your states EEOC . Get An investigation going."

September 25, 2025
https://www.thelayoff.com/t/1k60fr4h8
"Contact your local senate office for the district you live in. Bring as much light to this as you can because if he has his way all americans will be out of a job soon. All he cares about is India and now Manchester his homeland."

October 17, 2025
https://www.thelayoff.com/t/1k7rjbb40
"mgmt does push back and literally gets told its not optional by upper mgmt. if lower level dont make changes which we havent, upper does it regardless. Everyone needs to report the company or it wont stop. We all have local leaders and each state has EEOC plus put it on record with ethics. Mgmt knows there are forced rankings can testify too the bullsh-t as well. Stay silent this sh-t continues while we get let go and india makes out taking our jobs"

December 4, 2025
https://www.thelayoff.com/t/1kbjgv9en
"We need to band together as mgrs on this sh-t. Screenshot any emails or teams messages that show these are forced as proof"

December 6, 2025
https://www.thelayoff.com/t/1kbk9pt5n
"absolutely and every single person here should contact the media to raise enough eyebrows about the topic. They have an email for topic suggestions
cwc-news@interactive.wsj.com. Make sure the subject mentions BNY financial institutions firing US employees and falsifying performance ratings to help do so. We have to get media attention"

December 17, 2025
https://www.thelayoff.com/t/1kcq1468q
"You can turn it in to your states EEOC. As a mgr i can 💯 confirm they forced ratings and changed them after we entered them to hit their reduction %. People have challenged this and the attempt to not give severance and noted on this site they have won. Others noted journalists or lawyers looking into this and wanting details. Check out the “fight them” post"

Has anyone heard about the hiring freeze in global risk management?

This is just for discussion ( I guess). What would happen if bank branch employees walked out midday (and locked the branches) so the branches couldn’t close the books on the day? Since branches need minimum staffing to be open it wouldn’t take 100% participation.

4am on east coast. Why is check not posted in bank??