Wealth management

Requiring banks to test themselves is likely to be a waste of time in the current crisis, says a former Senate Banking counsel.

The regulator will provide $4 million in loans and $800,000 in grants so institutions can assist their communities during the pandemic.

They are under less pressure from policymakers to halt repurchase plans, but some have already hit the brakes and others may unofficially do so if the pandemic worsens.

Sen. Sherrod Brown of Ohio, the top Democrat on the Banking Committee, said financial institutions "need to be investing in their communities right now, not investing in their CEOs’ stock portfolios.”

Investors worry the drop in crude prices could spark a rash of defaults; the bank denies it opened accounts without customer permission to meet sales quotas.

Concerns about the economic fallout of coronavirus have mostly focused on supply chain disruptions. But fears are growing that weakening consumer demand could spark a recession.

Elizabeth Duke and James Quigley step down from board; the bank is asking corporations to divulge their exposure and preparations as part of risk assessment.

Fed makes emergency cut, JPMorgan tests contingency plan; the justices appeared divided on whether to give the president power to fire the agency’s director.

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.

David Solomon says he isn't feeling any pressure from Morgan Stanley's latest move.

JPMorgan would consider buying other businesses; collectors would be allowed to pursue debt past the statute of limitations, if they warn borrowers.

The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and was hand-picked by the administration — aims to boost spending and hire more employees.

The Wall Street giant will inherit some $56 billion of low-cost deposits that will allow it to offer more traditional banking products to its wealth management clients.

The all-stock takeover would add E-Trade’s $360 billion of client assets to Morgan Stanley’s $2.7 trillion.

Proposed reforms to the Community Reinvestment Act focus on everything but bank products that promote higher education. It’s time to change that.

Bankers groups are keeping close tabs on a host of legislative and gubernatorial proposals, from prize-linked savings accounts in Iowa to rent control in Massachusetts to a slew of bills modeled after California's recently passed data privacy law.

Depending on one's perspective, the surge in consumer borrowing is either a normal byproduct of a booming economy or a worrisome trend that portends a wave of delinquencies when the next downturn hits.

Mike Weinbach will lead consumer lending as part of a reorganization that will change the responsibilities of three longtime bank executives.

Companies that scored highest in this year’s Best Fintechs to Work For (a ranking compiled by our parent company, Arizent) go beyond the basics of strong pay packages, generous benefits and effective leadership to take a more holistic interest in their employees’ lives, according to the data.

Companies that scored highest in this year’s Best Fintechs to Work For ranking go beyond the basics of strong pay packages, generous benefits and effective leadership to take a more holistic interest in their employees’ lives, according to the data.