More Women Made List of Top-Paid CEOs in 2023, But Numbers Still Small
More women are attaining the top job at companies in the S&P 500, but their numbers are still minuscule compared to their male counterparts.
Big Banks Issue Mixed Profit Reports as JPMorgan Flags ‘Uncertain’ 2024
JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.
Megabank Profits Mostly Fall in Q4 Amid Upbeat CEO Messaging
Three of the nation’s biggest banks said Friday that their profits fell last quarter, as JPMorgan Chase, Bank of America and Citigroup deal with the lingering effects of higher interest rates and the industry costs of last year’s banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank.
Megabank CEOs Warn New Regulations Could Harm the Economy
The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated.
Megabank CEOs Turning Pessimistic on Economy
The outlook for the U.S. economy from Wall Street’s biggest banks is getting gloomier, with many top executives saying they’re preparing for a potential downturn or a recession.
Big Bank Profits Decline as Deal-Making, Mortgages Slow
Four big banks reported noticeable declines in their first-quarter profits Thursday, as the volatile markets and war in Ukraine caused deal-making to dry up while a slowdown in the housing market meant fewer people sought to get a new mortgage or refinance.
Big Bank Profits Soared in 2021
Three of the nation’s biggest banks reported blowout profits for 2021 on Friday, helped by the improving economy and consumers and businesses willing to spend and take on loans.
Bank Profits Soar, Helped By Merger Frenzy, Fewer Bad Loans
Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has helped reduce the number of loans in default or that the bank won’t likely recoup.
Big Bank CEOs Say They’ll Work to Avoid Foreclosures
The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from inflation to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer.
Optimistic Megabanks Start Moving ‘Bad’ Loans Back to ‘Good’
The pandemic and recession aren’t over by a long shot, but megabanks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile.
Feds Fine Citigroup $400M Over Faulty Risk Management
Citigroup has agreed to pay a $400 million fine imposed by U.S. regulators for failing to shore up the bank’s operations.
Citi Picks Jane Fraser as Next CEO, First Woman in that Role
Citigroup announced that Jane Fraser would succeed Michael Corbat as the bank’s next chief executive, making Fraser the first woman to ever lead a Wall Street bank.
House Demands PPP Loan Info from Treasury, Banks
A House subcommittee investigating billions of dollars in coronavirus aid is demanding that the Trump administration and some of the nation’s largest banks turn over detailed information about companies that applied for and received federal loans intended for small businesses.
Megabanks Post Big Profits, but Lower Interest Rates Are a Worry
JPMorgan Chase reported a record annual profit on Tuesday, while Citigroup posted its best results since before the Great Recession.The biggest concern going forward is that lower interest rates will slow down Wall Street’s decade-long profit party.
Report: Google to Offer Bank Accounts in Citibank Partnership
Traditional bankers’ fears of Big Tech companies jumping into the banking sector could be starting to come true.
What Happens to Your Mortgage Disclosures After Closing?
About 54,000 mortgage borrowers recently had their financial data exposed to identity thieves trolling around on the Internet. Borrowers had no hint that they were vulnerable, and many may still not know that a breach occurred.
Citi Avoids Fine for Overcharging Interest to Credit Card Customers
The Consumer Financial Protection Bureau will not penalize Citigroup for overcharging credit card customers provided the bank returns $335 million to the 1.75 million borrower accounts that are due refunds.
Wells Fargo Jumps into Credit Card Rewards Race
Wells Fargo & Co. introduced a new credit card rewards program on Monday, aiming to stand out against other benefit-heavy cards and gain more of a foothold in a market where it has lagged rivals.
HSBC to Pay $100M to End Libor Rigging Lawsuit
HSBC Holdings Plc has agreed to pay $100 million to end private U.S. litigation accusing it of conspiring to manipulate the Libor benchmark interest rate, becoming the fourth major bank to settle.
Citigroup Taking Steps to Provide Gender and Ethnicity Wage Data
Citigroup and Arjuna Capital said in a statement yesterday that Citi is taking steps to provide gender and ethnicity wage data in an effort to help closing the pay gap, making it the first U.S. bank to respond to shareholder concerns.
