JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.
Three of the nation’s biggest banks said Friday that their profits fall last quarter, as JPMorgan Chase, Bank of America and Citigroup deal with the lingering effects of higher interest rates and the industry costs of last year’s banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank.
The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated.
Four big banks reported noticeable declines in their first-quarter profits Thursday, as the volatile markets and war in Ukraine caused deal-making to dry up while a slowdown in the housing market meant fewer people sought to get a new mortgage or refinance.
Three of the nation’s biggest banks reported blowout profits for 2021 on Friday, helped by the improving economy and consumers and businesses willing to spend and take on loans.
Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has helped reduce the number of loans in default or that the bank won’t likely recoup.
The chief executives of the nation’s largest banks went in front of Congress for a second day Thursday, facing questions ranging from inflation to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer.
Two weeks ago five of the nation’s largest banks did an about-face, asking shareholders to vote against proposals calling for third-party racial equity audits. But here’s the truth: What you don’t measure, you can’t manage.
The pandemic and recession aren’t over by a long shot, but megabanks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile.
Citigroup has agreed to pay a $400 million fine imposed by U.S. regulators for failing to shore up the bank’s operations.
Citigroup announced that Jane Fraser would succeed Michael Corbat as the bank’s next chief executive, making Fraser the first woman to ever lead a Wall Street bank.
A House subcommittee investigating billions of dollars in coronavirus aid is demanding that the Trump administration and some of the nation’s largest banks turn over detailed information about companies that applied for and received federal loans intended for small businesses.
A veteran of three of the largest banks on Wall Street will start next week as the commissioner of the Department of Revenue.
The parent company of Fidelity Investments had announced the spin-off of Akoya as an independent company that will be jointly owned by Fidelity, The Clearing House Payments Co. and 11 of its member banks.
Traditional bankers’ fears of Big Tech companies jumping into the banking sector could be starting to come true.
Citigroup and Arjuna Capital said in a statement yesterday that Citi is taking steps to provide gender and ethnicity wage data in an effort to help closing the pay gap, making it the first U.S. bank to respond to shareholder concerns.
As Goldman Sachs Group Inc. has unveiled more details about its strategy and financial targets to satisfy investor demands, Wall Street’s attention has turned to a business so small and new that there may not be much to disclose.
Morgan Stanley posted a much higher than expected quarterly profit on Tuesday as record revenue from its wealth management business helped offset the blow from a slump in trading activity.
Citigroup Inc. reported a higher quarterly profit as it kept costs lower, recorded a large gain from an asset sale and had a smaller-than-expected decline in trading revenue.
Global banks have said they could move thousands of jobs out of Britain to prepare for Brexit, the country’s planned exit from the European Union.
