With banks continuing to announce post-tax reform initiatives to share savings with customers, employees and communities, ABA is refreshing daily its page at aba.com/EnergizingTheEconomy documenting these efforts.
Following the historic tax reform law’s enactment, banks of all sizes continue to increase frontline employee wages, provide employee bonuses, invest in new technology and make additional charitable contributions.
As the new year begins and a historic tax reform law takes effect, banks continue to unveil wage increases, bonuses and increases in charitable contributions.
With the signing of the tax reform bill last week came a flurry of announcements from banks of all sizes about how they plan to pass on the savings they will see from corporate tax cuts to their employees, customers and communities.
Seattle-based Washington Federal has announced that it will increase wages for certain employees, make investments in technology and increase its funding for charitable causes with the savings it will see as a result of the tax reform bill, which was passed yesterday.
A new survey of bank executives indicates that the competition for talented employees is likely to continue in the near term.
Wells Fargo CEO Tim Sloan appeared before the Senate Banking Committee today to provide an update on the steps the bank has taken over the past year to mitigate damages resulting from unauthorized accounts that were opened by Wells Fargo employees to meet sales goals.
As public companies prepare to begin making Dodd-Frank Act mandated disclosures of the pay ratio between their CEOs and a median employee, the Securities and Exchange Commission is issuing guidance to facilitate compliance.
In the wake of a federal judge invalidating the Obama administration’s overtime rule, ABA offered comments on overtime issues to the Department of Labor, which is seeking feedback as part of a Trump administration effort to reduce regulatory burdens on businesses.
Examiners at the Consumer Financial Protection Bureau and the OCC remain intensely focused on incentive compensation and sales practices, particularly at banks with more than $20 billion in assets, according to senior officials speaking at ABA’s Government Relations Summit this morning.