Browsing: Banking

Bank of America’s Community Development Banking division has delivered a record $7.8 billion in financing for affordable housing and economic development initiatives in 2023. This investment includes $6.2 billion for affordable housing development, $1.1 billion for community facilities, and $500 million for small businesses in low-to-moderate income communities, with plans to increase financing to $8.5 billion in 2024.

Barclays Bank has resolved a significant online banking outage that temporarily prevented customers from accessing their digital banking services. The bank confirmed that all services are now ‘back up and running’ after several hours of disruption that affected mobile and online platforms.

Bank of America’s Community Development Banking division has delivered $7.8 billion in financing to support affordable housing and economic development in underserved communities across America. The financing includes $5.3 billion for affordable housing developments and $2.5 billion for community facilities, with the bank planning to increase its target to $8.5 billion next year.

Veteran banker James Brixey is set to become the new CEO of Brownwood Banking, bringing his successful leadership approach from Katy Financial Services. Brixey plans to implement digital transformation initiatives while maintaining community-focused services to help the regional bank thrive amid industry challenges.

Former President Trump has indicated he is considering implementing significant sanctions and tariffs on Russia as a strategy to end the war in Ukraine. These potential economic measures could have substantial impacts on global markets, particularly affecting the banking sector, as financial institutions prepare for possible new sanctions regimes and resulting market volatility.

Former President Trump has indicated he is considering implementing significant sanctions and tariffs on Russia as a strategy to end the war in Ukraine. These potential economic measures could have substantial impacts on global markets, particularly affecting the banking sector, as financial institutions prepare for possible new sanctions regimes and resulting market volatility.