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.
Bristol County Savings Bank, based in Taunton, gave a $10,000 grant to the city-run Taunton Teen Empowerment Program, which runs personal development workshops for teens to learn life skills and build confidence. See who else gave back.
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.
Lawrence-based Merrimack Valley Credit Union donated $30,000 to Emmaus Inc. in Haverhill, a nonprofit that provides emergency shelter and affordable housing to families and individuals facing homelessness. See who else gave back
Bank of America must pay around $150 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent.
Several of America’s biggest banks say they’re setting aside hundreds of millions of dollars each to cover potential loan losses in the event of a recession this year.
Wells Fargo plans to reduce the size of its mortgage business, making changes that the bank said would see its home lending business focus on bank customers and minority communities.
Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle a laundry list of charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts.
Somerville-based Naveo Credit Union employees dressed up in costumes on Monday, October 31 and raised over $160 for The Leukemia & Lymphoma Society during their Costumed for a Cure event.
The coming months could see more job losses as lenders adjust to the new economic environment. But some Massachusetts lenders don’t see layoffs on their horizon thanks to decisions made when the refinance boom began two years ago.
A New York City-based investment firm has purchased a large luxury resort overlooking Pleasant Bay in Harwich.
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.
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 Office of the Comptroller of the Currency has assessed a $250 million civil money penalty against Wells Fargo Bank and issued a new enforcement action with the bank for deficiencies in its home lending program.
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.
Wells Fargo CEO Charles Scharf apologized Wednesday for comments he made suggesting it is difficult to find qualified Black executives in the financial industry.
A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday.
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.
