[ad_1] Federal Reserve Chair Jerome Powell fist-bumps former Treasury Secretary Steven Mnuchin after a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, D.C., on Dec. 2, 2020. Greg Nash | Reuters The $1 billion-plus …
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Some NYCB deposits may be a flight risk after Moody’s downgrades ratings again
[ad_1] A sign is pictured above a branch of New York Community Bank in Yonkers, New York, on Jan. 31, 2024. Mike Segar | Reuters Regional lender New York Community Bank may have to pay more to retain deposits after one of the company’s key ratings was slashed for the second …
Read More »Capital One’s acquisition has $1.4 billion breakup fee if rival bid emerges, but none if regulators kill deal
[ad_1] Capital One headquarters in McLean, Virginia on February 20, 2024. Brendan Smialowski | AFP | Getty Images Capital One‘s blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such fee if U.S. regulators kill the deal, …
Read More »Shopping online at 2 a.m.? That’s a red flag for buy now, pay later lender Affirm
[ad_1] A young man holds a credit card and uses a laptop for online shopping. Diy13 | Istock | Getty Images Americans shopping online after midnight often make riskier transactions and are more likely to default on their loans, according to Affirm Chief Financial Officer Michael Linford. The fintech firm …
Read More »Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year
[ad_1] Pedestrians pass a JPMorgan Chase bank branch in New York. Michael Nagle | Bloomberg | Getty Images The three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways for customers to avoid the …
Read More »JPMorgan Chase shuffles top leaders as race to succeed Jamie Dimon drags on
[ad_1] Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC JPMorgan Chase on Thursday said several executives considered front-runners to one day take over for CEO Jamie …
Read More »Citigroup is cutting 10% of its workforce in CEO Jane Fraser’s corporate overhaul
[ad_1] Jane Fraser, Citi, at WEF, Davos, Jan. 17, 2023. Adam Galica | CNBC Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and stock price. About 20,000 employees will be let go over the “medium term,” New York-based Citigroup …
Read More »Citigroup posts $1.8 billion fourth-quarter loss after litany of charges
[ad_1] Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year’s regional banking crisis and CEO Jane Fraser’s corporate overhaul. All told, the charges — so massive the bank preannounced their effect this week — hit quarterly earnings by $4.66 …
Read More »JPMorgan Chase says profit falls after regulatory fee from regional banking rescues
[ad_1] Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images JPMorgan Chase reported fourth-quarter earnings before the opening …
Read More »Citigroup to close global distressed-debt business as part of CEO Jane Fraser’s overhaul
[ad_1] A trader works underneath a monitor displaying Citigroup Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on June 3, 2016. Michael Nagle | Bloomberg | Getty Images Citigroup is shuttering another Wall Street business as CEO Jane Fraser pushes ahead with …
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