Brexit

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.

London is battling other cities, which are trying to use the political uncertainty of the U.K.'s exit from the European Union to lure payment startups and other financial technology companies.

Global uncertainty is resulting in more and more people beginning to look at the possible impact such issues have on their wealth and how they can mitigate this risk, writes Nigel Green, founder and CEO of deVere Group.

Between Brexit, Dodd-Frank uncertainty and the mobile revolution, issuers and financial services companies must combine past performance data and forward-looking information to gain insight, writes Henri Wajsblat, director and head of financial services at Anaplan.

Irish authorities have seen a drop in the level and intensity of inquiries from finance firms seeking to set up shop in Dublin after Britain's June election led to the prospect of a softer Brexit, according to a person familiar with the matter.

Deutsche Bank envisions shifting almost half its U.K. positions to the European continent over coming years as the lender's Brexit plans take shape, people briefed on the matter said.

Banks may need to find $30 billion to $50 billion of additional capital to support new European units in the aftermath of a hard Brexit, and some smaller firms may abandon their operations on the Continent altogether as profitability plunges, according to Oliver Wyman Inc.

After posting a second quarter of revenue growth and with plans to return another $2 billion of cash to investors, departing boss Stuart Gulliver’s six-year turnaround of HSBC Holdings might finally be gathering momentum.

Banks planning to shift parts of their operations from London to other European cities because of Brexit will have to increase salaries because of a skills shortage, according to the head of a recruitment company.

Bank of America has picked Dublin to locate its main European Union hub in preparation for Britain quitting the bloc in 2019.

JPMorgan Chase CEO Jamie Dimon said European Union officials could force London-based firms to move substantially more employees abroad than planned if they demand additional banking operations be performed inside the bloc.