The Latest

The New York megabank is considering splitting its institutional clients group division into three parts following the upcoming departure of top executive Paco Ybarra, the Financial Times reported. The heads of the three segments would report directly to CEO Jane Fraser.

Two-thirds of business executives expect to pursue merger-and-acquisition deals over the next 12 months, according to a new EY survey. That's good news for larger banks with M&A advisory operations.

As consumers' cushion shrinks, they are becoming more dependent on their paychecks to maintain their standard of living. Economists are split on whether wage growth is strong enough to fill the gap.

Goldman Sachs Group is exploring a sale of an investment-advisory business it bought four years ago, undoing another signature deal under CEO David Solomon's ill-fated push to manage money for a broader set of customers.

John Paul Dillon pleaded guilty to nearly $1 million in fraud related to COVID-19 emergency small-business programs, including the Payroll Protection Program and the Economic Injury Disaster Loan Program and a fraudulent loan application for a mortgage.

The longtime payments executive plans to maintain the company's alternative pricing as a way to address the growing criticisms of interchange.

The Office of the Comptroller of the Currency granted federally chartered banks permission Monday to close branches in California, Nevada and Arizona affected by Tropical Storm Hilary.

Congress must act to ban nonbanks from issuing stablecoins. The products are virtually equivalent to bank deposits, and should be regulated as such.

Key data points have shown price and wage pressures continue to dissipate, which should bolster the case for an end to rate increases, but strong labor-market activity may keep policymakers uneasy.

Tighter credit standards and lower demand for business loans could make it harder for the Fed to achieve the soft landing it's seeking. Still, bankers are cautiously optimistic, noting that some businesses are using their savings to invest at a time when borrowing costs are high.