Magazine article American Banker

Morning Scan: Big Banks Take on Gender Gap; Debating Good Governance

Magazine article American Banker

Morning Scan: Big Banks Take on Gender Gap; Debating Good Governance

Article excerpt

Byline: Sarah Todd

Wall Street Journal

Big banks are ramping up efforts to retain and promote women leaders, the paper reports. The article takes a look at initiatives including a Citigroup symposium that brought together 50 senior women to discuss ways to improve gender diversity and Morgan Stanley's attempt to get more male managers involved in its development program for women at the vice president level. Whether these programs will successfully propel more women into the C-suite remains to be seen, as many are relatively new.

Many smaller retailers are in for an unhappy surprise in the aftermath of Thursday's deadline for compliance with a new chip-card policy, according to the paper. Liability for credit- and debit-card fraud will shift on Thursday from banks to merchants who have neglected to install equipment compatible with chip cards. Just 19% of merchants will have upgraded their payment terminals by the end of the year, according to consulting firm Mercator Advisory Group.

The Consumer Financial Protection Bureau is exploring new regulations for student-loan servicers in an effort to avoid the kinds of problems that led to the mortgage crisis. Potential new requirements could require servicers to reduce some borrowers' monthly payments and to alter their payment processing practices.

New mortgage disclosure requirements go into effect Oct. 3, and some lenders worry the adjustment period will mean "delayed closings, frustrated borrowers and confused real-estate professionals," according to the paper.

Bank of America's investment-banking units are laying off 200 employees in an effort to compensate for lower profits, the paper reports. …

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