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JPMorgan Chase will cut thousands of jobs over the next year as it seeks to contain expenses and sells businesses, said a person with knowledge of the plans.
May 28 -
Toronto-Dominion Bank scrapped plans to open some U.S. branches and will combine other locations as part of a restructuring that cost Canada's second-largest lender C$228 million ($183 million), Chief Financial Officer Colleen Johnston said.
May 28 -
Banks with more than $1 billion of assets are now required to report overdraft income in their call reports. Data released Wednesday reveals which banks rely most heavily on revenue from overdrafts and which could be most vulnerable to looming changes in overdraft regulations.
May 28
Wells Fargo will lay off 89 workers at its legal-order processing group in Philadelphia.
The affected workers received their notices on May 14, said company spokesman Jim Baum. The layoffs will become effective July 13,
Wells Fargo in December sent a notice to 120 workers informing them their work was moving to Charlotte, N.C. The contacted workers were given the opportunity to move to Charlotte with the job, based on certain criteria, or apply for other positions.
The legal-order processing group handles legal requests from third parties including the Internal Revenue Service, state and federal agencies and private law firms. The group was based in Wells Fargo's location in the Old City neighborhood of Philadelphia, at Fifth and Market streets.