Organization Root Tag

The Detroit-based firm said the job cuts will occur across divisions and aren't isolated to a single line of business.

U.S. Bancorp and Truist picked literal names for their virtual assistants to avoid confusing customers, while Fifth Third and Regions created characters called "Jeanie" and "Reggie" to put clients at ease. Other companies are trying to split the difference.

Citing Silicon Valley Bank as an example of being ill prepared, Federal Reserve Vice Chair for Supervision Michael Barr says the central bank can only serve as lender of last resort if banks are "ready and able" to borrow.

Anthony Viggiano and three classmates once won a competition about which team could best tackle dilemmas they'd face as financial professionals. He's now accused by federal prosecutors of being at the center of an insider trading scheme. 

Making the Consumer Financial Protection Bureau's funding subject to congressional appropriations would bring some much-needed accountability to a runaway regulator.

The U.S. Commodity Futures Trading Commission  ordered Goldman to pay a $30 million penalty for failing to "diligently" supervise its swap dealer activities and for failures relating to swap date reporting and so-called pre-trade mid-market marks. 

The high court will hear oral arguments on Oct. 3 on whether the Consumer Financial Protection Bureau's funding violates the Appropriations clause. A key issue is whether parameters can be placed around Congress' authority over the federal purse strings.

The bank has already axed 5,000 jobs this year, costing $400 million in severance in the second quarter alone. This next phase will be more about eliminating the executive roles that sit two or three layers below the CEO.

With the firm's $75 million settlement this week with the US Virgin Islands, the echoes from the bank's association with the convicted sex offender continue to reverberate.

The former employee is accused of shuffling information to two friends.

Cash remains king, but some credit card customers prefer giving their rewards to nonprofits, so the Minneapolis banking giant has made it a year-round option where it's matching donations dollar for dollar.

The wealth and asset management team, led by Kristine Garrett, saw a 34% year-over-year boost in total revenue for its business line, up to $626.6  million.  

In addition to her work as global head of Citigroup's Citi Private Bank, Liu also co-leads the bank's Asian affinity network.

The JPMorgan Chase CEO's comments contrast with the consensus view after 5.25 percentage points of hikes that lifted the benchmark rate to 5.5% — the highest level in 22 years. Money markets are pricing in cuts from next year.

Each of the 11 Federal Home Loan banks will be sent a supervisory letter and an advisory bulletin on bank credit risk from their regulator the Federal Housing Finance Agency, according to a report from the FHFA's Office of Inspector General.

Deutsche Bank AG's DWS asset management arm agreed to pay a total of $25 million to settle Securities and Exchange Commission probes into alleged greenwashing and anti-money laundering lapses.

Barry Sommers, the wealth management chief CEO Charlie Scharf brought in, is expanding after fixing up the unit; "Five years from now the independent channel will be our biggest channel."

In their latest economic forecasts, 12 of 19 Fed officials said they expect to raise rates once more this year. 

Federal Reserve Board Gov. Lisa Cook said artificial intelligence holds great promise for the economy, but stressed the importance of human choice in decision making, both financial and otherwise.

Recordkeeping lapses lead to fines as looming government shutdown threatens SEC workload.