Person Root Tag

No one liked it when interest interest rates hit 21% in the early 1980s, but the actions of the Federal Reserve under Paul Volcker helped save the U.S. economy from true catastrophe. That kind of leadership is lacking in today’s Washington.

Citigroup has been pulling back retail operations from broad swaths of the globe, but its commercial banking business is finding new regions for expansion.

Citigroup awarded Chief Executive Jane Fraser $22.5 million for her work in 2021 after she assumed the top job in February and helped guide the bank through regulatory hurdles.

Axis Bank is nearing a deal to buy Citigroup’s India retail banking business, a transaction that could be valued at about $2.5 billion, people familiar with the matter said.

Wells Fargo’s stock took off last year amid signs that Charlie Scharf is making progress in his efforts to turn the lender around.

DBS Group Holdings agreed to buy Citigroup’s consumer banking assets in Taiwan, as Southeast Asia’s largest lender pushes ahead with plans to boost its regional presence.

Customers are ramping up borrowing just as interest rates are poised to rise. That combination “sets us up nicely for 2022,” says CEO Brian Moynihan.

Shares fell sharply Friday after the company said spending increased 14% in the fourth quarter and will climb by another 8% in 2022. But CEO Jamie Dimon said the investments in marketing, technology and talent are necessary to ward off threats from traditional banks and upstart fintechs.

After Federal Deposit Insurance Corp. Chair Jelena McWilliams’ resignation, a Democrat on the board will temporarily run the agency. But it's still unclear who will call the shots over the long run and how policymaking will be affected by the FDIC's leftward shift.

With nearly $20 billion of exposure in the world’s second-largest economy, JPMorgan Chase has a lot riding on maintaining cordial relations with a government that’s sensitive about anything that might be construed as questioning its legitimacy.