Organization Root Tag

The San Francisco-based bank is proactively managing its loan portfolio and working with borrowers to restructure terms with the goal of helping clients and minimizing risk, CEO Charlie Scharf said.

Carrie Tolstedt, the longtime head of retail banking at Wells, is resolving legal problems tied to her role in the bank's phony-accounts scandal. Earlier this year, she agreed to plead guilty to a criminal charge as part of a deal that calls for up to 16 months behind bars.

Wells Fargo & Co. has hired Credit Suisse Group's Jill Ford as head of its equity capital markets business.

The banking goliath is continuing to execute its four-pillar technology investment strategy, CIO Lori Beer said at its investor day.

Comerica's shoddy handling of its Treasury contract to manage Social Security and veterans benefits — including outsourcing fraud claims to a vendor in Pakistan — is emblematic of how the banking industry treats the poor.

A muted dealmaking environment has dented revenues across Wall Street.

The longtime executive and former Trump Administration official will rejoin Goldman colleagues at merchant bank BDT & MSD Partners.

A Comerica Bank executive admitted to major failures in its handling of the Treasury Department's Direct Express program, including data and resolved fraud disputes sent to a vendor's office in Lahore, Pakistan, a "serious" contract violation.

As he updated RBC shareholders on a disappointing quarter, CEO Dave McKay cited the U.S. banking crisis and gridlock over the debt ceiling.

JPMorgan Chase notifies about 1,000 First Republic Bank employees that they aren't being given jobs — even temporarily — following its takeover of the failed lender.

According to the bank, Cecile de Jongh, the wife of former USVI Governor John de Jongh, was Epstein's "primary conduit for spreading money and influence throughout the USVI government." 

Two former top bank regulators argue that efforts to eliminate risk from the business of banking is a fool's errand, and say it is time to refocus banks' managers and boards on the business of managing it.

The San Francisco-based bank — which regulators seized and sold to JPMorgan Chase early this month — was paying dozens of employees more than $10 million apiece annually in the heyday before its collapse.

With billions of dollars at stake, financial institutions weighed in on the Consumer Financial Protection Bureau's proposal to cut credit card late fees to $8, claiming, in part, that small banks and credit unions will suffer economic harm if the plan goes into effect as proposed. 

The justices ruled this week that a lower court should have ordered the FDIC to reconsider its lifetime ban of a Michigan banker instead of deferring to the agency's judgment. The decision could make financial regulators more hesitant to take certain enforcement actions, experts predict.

The Federal Reserve Board governor said secular increases to the currency supply limits how much the central bank can shrink its holdings.

Citi was unable to reach a deal despite more than a year of talks with a long list of suitors for its consumer, small-business and middle-market banking divisions across Mexico.

During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.

The Consumer Financial Protection Bureau alleged in 2020 that Citizens failed to investigate certain fraud claims and billing disputes. A key allegation was that the bank required customers to provide a notarized affidavit to support a fraud claim.

After First Citizens acquired SVB in March, HSBC poached 42 bankers, misusing SVB's confidential, proprietary and trade secret information to execute their scheme, according to a complaint filed Monday in federal court in Northern California.