Organization Root Tag

Jane Fraser defended Citigroup's recently announced organizational overhaul and specific performance targets, saying the plan is different from prior restructurings because it's designed to fundamentally change how the company operates.

JPMorgan Chase now tops Wells Fargo in third-party servicing, origination volume and on-balance-sheet home loans, according to company filings.

Under the proposals, banks with at least $100 billion in assets would have to boost the amount of capital set aside by an estimated 16%.

As false credit-card disputes spike, the networks have updated policies to provide merchants and issuers with more data to combat false chargebacks.

Net income — which analysts estimated would fall 22% — rose slightly, the New York-based firm said Friday.

The San Francisco-based bank reported $13.1 billion in net interest income in the third quarter, up 8.3% from a year earlier, and raised its full-year guidance. Noninterest expenses rose more than expected, though, totaling $13.1 billion in the quarter.

Net interest income was $22.9 billion in the third quarter, above analysts' expectations. The biggest U.S. bank says it now expects to generate $88.5 billion from the revenue source this year.

The Consumer Financial Protection Bureau and the Justice Department warned banks and other lenders that credit applicants cannot be rejected due to their immigration status.

Regulators should consider whether additional investor protections are needed for the fast-growing market, Caroline Crenshaw, an SEC commissioner, said in a speech Wednesday.

Former Barclays boss Jes Staley has been banned from the U.K. financial services industry after "recklessly" misleading regulators and the bank about his relationship with the late financier and sex offender Jeffrey Epstein.

Banco Santander Chairman Ana Botin said she's is always looking at potential smaller acquisitions, responding to a report that the Spanish lender had been approached about a possible bid for Metro Bank Holdings.

In search of new revenue streams, the card network has researched companies' working-capital and cash-flow headaches to see where it could play a bigger role.

The proposals appear "somewhat bizarrely" to be a response to the problems at U.S. regional banks in March, according to Citigroup Chairman John C. Dugan.

Goldman is offloading the lending platform less than two years after acquiring it as part of a broader retreat from the mass market.

The Federal Reserve is expected to pause at its September meeting. Jeff Timlin, a managing partner at Sage Advisory, will join us on Sept. 21 to provide analysis of the meeting.

The Consumer Financial Protection Bureau alleged in a lawsuit that the nonbank lender violated a 2019 consent order and submitted incorrect information in 2020.

The biggest laggard among the US banking giants, BofA's investments earn less than its closest rivals, and the stock is the group's worst performer by far.

In spite of rising borrowing costs, the US economy has shown surprising resilience. The labor market added 336,000 jobs in September, according to fresh data published Friday.

"The inflation rate is still too high, the level of inflation remains high, but at least we're seeing progress on it," Mester said Friday during an interview with CNN International.

Mary Callahan Erdoes, CEO of asset and wealth management at the megabank, says recent advancements in remote connectivity will lead to a "much better Wall Street than many of us grew up in." She urges women not to let newfound flexibility go away.