Brexit

Laplanche agrees to a three-year securities industry ban and a small fine to settle SEC fraud charges on loan sales; analysts are expecting a "tepid" quarter as some trading activity suffers.

London-based digital payment provider Revolut has applied for an e-money license in Luxembourg in case the Brexit impact creates legal complications.

John Gerspach is scheduled to leave next March after 10 years and be succeeded by Mark Mason; ING will pay nearly $900 million for failing to stop money laundering by clients.

The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation.

Anand Selva, a longtime Asia hand, will head up U.S. consumer banking; several startups are backed by traditional card issuer veterans, such as former Citi CEO Vikram Pandit.

Mastercard's strong performance is dampened by threats from trade disputes and Brexit, both of which could cause the company pain in the future.

Brexit's implications for the U.K.'s technology industry are deepening political fractures, with no clear answer as to how startups fintechs and challenger banks can operate in the U.K. after it leaves the European Union.

Technology can help an organization scale internationally and help finance departments shift their focus from managing the details of supplier payment processing to delivering valuable guidance to the business, writes Chen Amit, CEO of Tipalti.

The U.K.’s Rural Payments Agency has long been renowned for its inefficiencies in processing timely and accurate financial support payments to farmers across the country. But now industry figures expect Brexit will lead to an improvement in performance due to a loosening of the EU-driven bureaucratic regulations.

The Swiss bank allegedly hired Chinese officials’ friends and relatives to win business; JPM asked “several dozen” employees to consider moving from London.

JPMorgan Chase, which employs about 10,000 people in London, has asked "several dozen" employees to relocate across the European Union before the U.K. formally leaves the bloc in March next year.

Banks stocks have declined as the yield curve shrinks; the companies will offer a co-branded small-business card.

TransferWise is the first nonbank to become a member of the U.K.’s Faster Payments service (FPS), but with Brexit on the horizon, it has to make sure it is similarly invested in other markets.

So far, U.K. fintechs' options range from relocating to other countries to finding ways to offset negative effects by attempting to “Brexit-proof” their businesses. The latter option can still be a substantial undertaking.

Deutsche Bank on Wednesday became the first large bank to announce a wholesale relocation of client business out of the U.K., but B of A has extended the lease on its London headquarters, and Northern Trust is searching for a new lease in the city.

Jamie Dimon said his bank could cut more than 4,000 jobs from its U.K. workforce if a suitable deal isn't reached in Britain's exit from the European Union.

Wells, Fifth Third, others plan to raise pay after tax reform; Joseph Otting backs a federal banking charter for online lenders.

The $50 billion threshold replaced by a formula, but bill must be reconciled with Senate version; Fed, FDIC say the eight big banks still have work to do.

While the Bank of America chief says he is encouraged by progress on tax reform, he cautioned that it remains politically and fiscally tough to accomplish, and that the wrong moves on immigration could offset some of the gains from tax cuts.

With talks about Brexit largely deadlocked, banks have begun putting their contingency plans into action. The focus: Frankfurt.