Morgan Stanley

Banks paid out nearly twice as much as they earned in the first quarter; Marilyn Booker, a managing director, said she was fired in December for pushing too hard on a diversity plan.

As they prepare to exit government conservatorship, Fannie Mae and Freddie Mac have enlisted the investment banks to help them boost capital and evaluate market opportunities.

In wealth management and consumer lending, banks are starting to win back clients they had been losing to startups.

Small businesses that took out the loans will soon be applying for forgiveness; U.S. Secretary of State Pompeo and one of HSBC's large investors criticized the bank for buckling to Chinese pressure.

Despite record low mortgage rates, borrowers are having trouble getting loans from wary lenders; the underperforming American unit may be ditched in U.K. bank restructuring.

The comptroller of the currency will be replaced by his COO, Brian P. Brooks, on an acting basis; CEO James Gorman says the economy needs to be on steadier ground first.

"We've proven we can operate with no footprint," said James Gorman, Morgan Stanley's CEO. "Can I see a future where part of every week, certainly part of every month, a lot of our employees will be at home? Absolutely."

Thousands of bankers are set for a reprieve as Citigroup, Wells Fargo and Morgan Stanley joined European lenders in pledging to preserve jobs amid the widespread impact of the coronavirus.

Citigroup and Morgan Stanley told employees not to travel internationally for nonessential business, expanding earlier restrictions in Wall Street's latest responses to the spread of the coronavirus.

With health organizations warning of a global outbreak, banks are starting to assess the risks to their bottom lines.