North Carolina’s banks are doing well in an economy that has improved since the financial crisis, but they are also challenged to grow their profits as regulations drive up their operating costs, according to Peter Gwaltney, the new president of the NC Bankers Association.
Wells Fargo has promoted an executive in Charlotte to lead its acquisition and divestiture activities, a position previously held by an executive based in San Francisco, where Wells Fargo is headquartered.
The San Francisco-based lender has shuttered nearly 100 data centers over the past six years, a move that has helped reduced the company’s greenhouse gas emissions, the head of the lender’s data center strategy wrote in a recent blog post.
The Charlotte bank is betting that consumers getting used to visiting with health care providers and talking to tech support workers via video also will be comfortable buying a mortgage using the technology.
For decades, American Express was the undisputed credit card of choice among corporate road warriors, the wealthy and the well-traveled, who lived by the company’s slogan, “Don’t leave home without it.” But changing consumer habits, extremely aggressive competition and increased pushback from its merchants are putting heavy pressure on AmEx.
A mortgage company co-owned by a former Carolina Panthers player broke ground Monday on new headquarters in Indian Land, and will move jobs from Charlotte and elsewhere in exchange for incentives from South Carolina.
The Securities and Exchange Commission has denied Bank of America’s request to exclude a shareholder proposal from this year’s proxy that calls on the Charlotte bank to explore ways to break itself up.
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