SEC

The nominees, strongly backed by progressive Democrats to lead two key Wall Street watchdogs, signal that the Biden administration is planning tough oversight after four years of light-touch policies under appointees of President Trump.

Several government agencies have made deeper moves into crypto oversight, leaving a trail of angry executives and unresolved political questions. And there's still no sign of a central bank digital currency, leaving the U.S. at risk of falling behind other countries in the race to support faster payment processing.

Joe Biden's presidential transition has barely started but already banks and investment firms are anxious about two names they fear are in the running to lead the Securities and Exchange Commission: Gary Gensler and Preet Bharara.

New rules on shareholder submissions of proxy proposals could help banks fend off demands to disclose more pay data, cut financing to fossil fuels companies and adopt other reforms.

JPMorgan Chase is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter.

Lawmakers should go further than their recent criticism of the Financial Accounting Standards Board's loan-loss rule and just hand over its duties to the Securities and Exchange Commission.

The move is the first time the bank has provided services to digital currency players; the Washington Post and four other heavy hitters want details on PPP and small business disaster loan programs.

The bank agreed to pay $35 million to settle SEC charges it recommended high-risk ETFs to some customers; coronavirus fears continue to batter financial shares.

The 10-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership.

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions.

Outages or disruptions of GPS signals — sometimes malicious, sometimes not — could quickly knock out computers, ATMs and card networks.

The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal.

Several former high-level Wells Fargo executives are under criminal investigation in connection with the bank's fake-accounts scandal and could be indicted as soon as this month.

Regulators' oversight of the industry's switch to a new interest rate benchmark is expected to intensify as a key deadline approaches.

George Cook could have joined Somerset Trust, where his father is CEO. Instead, he founded Honeycomb Credit, a crowdfunding platform that competes with banks.

Many in the space are seeking the creation of a "flexible" supervisory regime that relies on existing authorities and a hands-off approach from state agencies, but such a plan faces an uphill battle.

The Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Commodity Futures Trading Commission and the Securities and Exchange Commission announced Thursday they had joined the Global Financial Innovation Network.

The reforms will result in significant changes to the proprietary trading ban first proposed by former Federal Reserve Chairman Paul Volcker and mandated in the Dodd-Frank Act.

The revised trading rule is seen as a credit negative for the banking industry.

Wall Street watchdogs are poised to take a major step toward overhauling limits on banks’ ability to trade with their own funds, according to people familiar with the effort.