‘Downtown is ripe for some major growth’ — exclusive conversation with Bank of America market president 

(Courtesy of Jacksonville Business News)   Enlarge Greg Smith, Bank of America market president. Bank of America market president Greg Smith sees more opportunities for downtown growth now that major projects are starting. "Downtown is ripe for some major growth," Smith told the Business Journal. "There are a lot of things coming out of the … Continue reading ‘Downtown is ripe for some major growth’ — exclusive conversation with Bank of America market president 

US banks to get more freedom to offer unsecured loans 

Courtesy of Jacksonville Business Journal   Banks have historically shied away from providing unsecured loans to cash-strapped consumers, complaining that tough rules on underwriting — and the negative publicity of providing loans with very high effective annual interest rates — made the business more trouble than it was worth. The Trump administration plans to loosen … Continue reading US banks to get more freedom to offer unsecured loans 

Citigroup moving toward ‘national digital bank’: CFO

(Courtesy of Reuters) Citigroup Inc (C.N) is laying the foundation, through a growing network of mobile banking tools, to support the launch of a national digital consumer bank sometime within the next three years, its chief financial officer said on Tuesday. “I am not making an announcement right now, but I would be really disappointed … Continue reading Citigroup moving toward ‘national digital bank’: CFO

Shift in Jacksonville’s financial industry also a shift away from…

(Courtesy of Jacksonville Business News) The economic recovery has not brought back all the banking jobs of old, but it has produced 4,800 new high-paid positions since 2011 as more and more financial companies set up shop or expand their operations in Jacksonville. The city aims to attract financial sector jobs with incentives, taking advantage … Continue reading Shift in Jacksonville’s financial industry also a shift away from…

Wells Fargo shuttering hundreds of branches as customers embrace mobile banking

(Courtesy of Jacksonville Business Journal) Wells Fargo plans to close 450 of its almost 6,000 branches nationwide as it cuts costs and adjusts to more customers banking outside a branch. The bank, led by CEO Tim Sloan, said it cut 93 branches in the first half of this year, with more than half of those … Continue reading Wells Fargo shuttering hundreds of branches as customers embrace mobile banking