Wells Fargo & Co. has repaid another $5.4 million to about 450 military service members whose vehicles it repossessed illegally, the U.S. Department of Justice said on Tuesday.
Capital One Financial will stop issuing mortgage and home equity loans and cut some 1,100 jobs amid rising interest rates that have pushed away borrowers and slowed loan growth at many U.S. regional banks.
Sales of new U.S. single-family homes unexpectedly rose in September, hitting their highest level in nearly 10 years, offering hope that the housing market was regaining speed after appearing to stall recent months.
U.S. prosecutors have said that Mark Johnson, formerly head of HSBC’s global foreign exchange cash trading desk, schemed to ramp up the price of British pounds before executing a trade for Cairn, making millions for HSBC at Cairn’s expense.
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.
U.S. homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the South, suggesting that housing probably remained a drag on economic growth in the third quarter.
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.
Goldman Sachs Group Inc. is betting it can get its money-making mojo back by pitching creative deals to big, complex clients, marking a return to its investment banking roots as trading revenue slows.
U.S. employment fell in September for the first time in seven years as Hurricanes Harvey and Irma delayed hiring and left displaced workers temporarily unemployed, the latest indication that the storms undercut economic activity in the third quarter.
The budget deficit is proving to be a major obstacle to the tax reform plan being offered by President Donald Trump and top congressional Republicans, with one leading Senate hawk saying a week after the plan was introduced that any enlarging of the fiscal gap could kill his support.
Commerzbank, Bank of Montreal, Erste Group Bank and CaixaBank have joined an initiative launched by UBS Group and IBM Corp. aimed at building blockchain-based technology to support trade finance transactions.
U.S. lawmakers will question the former head of Equifax Inc. at a Tuesday hearing that could shed light on how hackers accessed the personal data of more than 140 million consumers.
Contracts to buy previously owned homes fell more than expected in August to their lowest level in about 1-1/2 years as the housing market continues to be sapped by a shortage of inventory that is also pushing up home prices.
Financial Industry Regulatory Authority said on Monday it ordered Wall Street investment bank and securities brokerage Morgan Stanley to pay $13 million in fines and restitution to clients for inadequately supervising certain short-term trades.
American International Group Inc. said on Monday it would reorganize into three new business units and will no longer have Commercial and Consumer businesses.
General Electric Co. is nearing a deal to sell its industrial solutions unit to Swiss engineering company ABB Ltd. in a deal valued at $2.5 billion to $3 billion, Bloomberg reported, citing people with knowledge of the matter.
Before a sales scandal upended its reputation, Wells Fargo & Co. was something of a proud outsider in Washington and on Wall Street compared to its big bank peers.
U.S. homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by persistent weakness in the volatile multifamily home segment.
Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers.