Organization Root Tag

The company is considering whether to cut 51 roles across its wealth business in London as the division's new chief looks for ways to boost the returns generated by the unit, according to a memo to staff seen by Bloomberg

The bureau is threatening to change its stance and classify EWA programs as loans. This is unwise and will harm consumers.

CEO Alex Chriss told analysts the company's AI-heavy product rollouts won't improve financial results in the near-term.

"Some difference of views has emerged" between the Dutch banking regulator and two U.S. counterparts — the OCC and FDIC, bunq told American Banker.

Legal documents contradict what the former Barclay's CEO told the bank's board about the pair's relationship, as well as a U.K. regulatory probe that found no evidence of contact after October 2015. 

Beyond Citadel, recipients of stock tips described in legal documents — without being named — include people at block-trading specialist CaaS Capital Management, Segantii Capital Management and Evolution Capital Management, according to people with knowledge of the matter.

The British lender has named the company veteran its global head of leveraged finance as it seeks to capture more business from the giants of private equity. 

Bankers during recent earnings reports predicted lower deposit costs as 2024 wears on. But with inflation still elevated and the jobs market strong, the Federal Reserve probably won't begin lowering rates — and thus easing the drag on lenders' profits — until May at the earliest.

A clash over pay playing out in contract negotiations between the Consumer Financial Protection Bureau and its employee union occur as the Supreme Court is considering whether the agency must get its funding from Congress.

The North Carolina bank agreed to offload Sterling Capital Management to Guardian Capital Group in Toronto. It's the latest step in the effort to simplify Truist.

PayPal hopes to demonstrate its coin's utility by using it to take a stake in a company called Mesh.

Some of private credit's biggest lenders argue such trading would undermine this advantage by forcing them to constantly value the assets on a marked-to-market basis, rather than at their discretion, inviting volatility.

The Financial Crimes Enforcement Network issued an alert Thursday on avoiding business relationships with sanctioned Israeli settler groups in the West Bank, an effort that comes as the White House is pushing sanctions on foreign actors involved in destabilizing the region.

The Birmingham, Alabama bank cut down its workforce across divisions as higher interest rates put pressure on its business.

With tougher capital requirements looming, a number of regionals including U.S. Bancorp, Huntington and Santander are using these new instruments to share risk with nonbank investors and lighten their capital load. Experts point out the pros and cons.

Banks can choose to only receive transactions instantly, and it's the most popular choice. Simply preferring to get paid faster isn't the reason.

The Treasury Department's Financial Crimes Enforcement Network fined a New York credit union employee $100,000 Wednesday in connection with a scheme to launder $1 billion using armored trucks and the credit union's Fed master account.

The Office of the Comptroller of the Currency fined City National Bank $65 million for a litany of risk management problems, including inadequate management of third-party risks and fraud risk management.

Deutsche Bank plans to cut 3,500 jobs over the coming years as Chief Executive Officer Christian Sewing seeks to make good on a pledge to lift profitability and return more money to shareholders.

An increase in deposits in recent months is prompting banks to seek out high-quality fixed-income assets to deploy money, market watchers say. The return of Wall Street buyers has pushed spreads well below year-end levels, jump-starting CLO creation and ginning up demand for loans.