Banks managed the retirement plan assets of 11% of small
The study of more than 1,100 businesses with fewer than 100
Banks received low rankings compared with their mutual fund and
Compiled by Cheryl Winokur
The Federal Reserve Friday issued a set of proposed changes to its stress testing program for the largest banks that would disclose the central bank's back-end stress testing models, a move that the Fed had long opposed out of fear of making the tests easier for banks to pass.
Robert Hartheimer's arrest comes at a time when the bank is trying to recover from a consent order and the Synapse mess.
Boston-based Eastern Bankshares is focused on organic growth, but it would "evaluate the opportunity" for M&A if a deal presents itself, its CEO said Friday. The comments came four days after an activist investor criticized the bank's recent M&A transactions.
There are regulatory and technology efforts to reform international payments, but it's a multifaceted, long process. Swift, The Federal Reserve, and fintechs like Wise and Revolut are pushing potential solutions. Here's what banks need to know.
The Bureau of Labor Statistics released its latest Consumer Price Index reading Friday morning, showing inflation rose by 0.3% in September, slightly below August's pace. The report also found core inflation steady at 3.0%, even as shelter costs eased and gasoline prices spiked.
Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.
