Commercial banks across the US are seeking to hire more bankers to boost their bottom lines by becoming more profitable.
The US Federal Reserve Board is seeking to bring in more than a half a million bankers by 2021 as part of its $1.3 trillion efforts to revive the banking sector.
The bank regulator is also looking at more options to bolster the ranks of its CBA bank teams.
One of the proposals the Fed has floated is for commercial banks to become more profitable by raising fees and selling shares to raise capital.
A recent study by consulting firm Deloitte found that the average fee for commercial bank bankers is 4.2% to 6.3% of a bank’s assets, compared to 2.4% for commercial bankers in other industries.
However, the Federal Reserve says it is looking at a fee of 2% to 3% for bank staff to help the bank become more viable.
The Reserve Bank has also announced plans to increase the amount of capital it is willing to offer banks to boost the value of their loans.
It is now willing to invest $250 billion annually in commercial banks, the first time that has been done in decades.
The Fed says it will also create a program that would give banks more leeway to offer better rates to their customers.
It will be able to raise fees to up to 5.25% for borrowers, and 4.25%-5.5% for investors.
For its part, the US Bankers Association, which represents nearly 500,000 commercial bankers, is asking banks to look at ways to raise funds from investors to boost profitability.
The group has also called for banks to offer a discount to customers who have bought a $10,000 mortgage.
The association said banks should also be willing to lend to people with lower income, including people who don’t have bank accounts, because they could benefit from lower fees.
The industry has faced criticism over its treatment of borrowers.
In 2015, the Consumer Financial Protection Bureau reported that banks had increased fees to 8.4%, up from 4.8% in 2014, despite evidence that they were often not charging customers enough.