The head of the six largest banks take flak from both Democrats and Republicans at Senate hearing; the rising price of digital assets is enabling them to poach senior mainstream executives.

The move follows the bank’s $911 million loss in the Archegos Capital fiasco; the bank will hold a 51% share in a wealth management joint venture with a Chinese bank.

Faryar Shirzad will be the crypto exchange’s chief policy officer as it seeks to schmooze regulators; however, CEO Noel Quinn says he does favor central bank digital currencies.

Credit card outstandings have dropped 17% since the fourth quarter of 2019; rising prices, low inventory have put a crimp in sales of existing homes recently.

Small businesses are desperately trying to borrow what’s left in the fund from overwhelmed banks; lenders would be required to disclose their risks from climate change.

The crash came after China’s central bank warned financial institutions about accepting digital currencies as payment; ComplyAdvantage uses machine learning to ferret out potential risks.

Co-leaders Marianne Lake and Jennifer Piepszak are now seen as the main potential successors to CEO Jamie Dimon; the pay raise, from $20 currently, would take effect by 2025.

The executive faces a tall order in meeting loan balance and deposit goals at the online consumer bank; Warren Buffett’s firm sold 99% of its leading stake in the bank in the first quarter.

Wells Fargo analyst predicts 200,000 reductions in the next 10 years, mostly in branches and call centers; many say the regulators are overreaching.

Earnings jump 24-fold as revenue surges by nearly 10 times, boosted by digital currency rally; online banks cater to people who say they’re not served well by mainstream lenders.