The economy is tanking, with massive layoffs and bankruptcies. But the richest sliver of the country continues to do quite well. The latest evidence: Goldman Sachs said it's raking in money on trades.
The dramatic collapse of the U.S. economy is pummeling America's largest banks. Wells Fargo has posted its first quarterly loss since 2008 and JPMorgan Chase has set aside billions to cover bad loans.
In another sign of how the coronavirus crisis is disrupting commerce, banks are running short of nickels, dimes and quarters. The Federal Reserve, which supplies banks, is having to ration change.
Edward Barry and his team worked hard to give their customers a head start. The Small Business Administration is resuming its emergency loan program for small businesses with an extra $320 billion.
In a letter to shareholders, the JPMorgan Chase CEO applauds the government and the Fed for quick work, but says the pandemic will have devastating consequences for the global economy.
Regulators urge consumers not to drain their bank accounts, after reports of large withdrawals by some customers worried about the coronavirus. The FDIC reminds us the accounts are insured.
Graduates of historically black or predominantly Hispanic colleges might be paying more to borrow money because of where they went to school, according to a report from a financial watchdog.
Natural disasters, protests and stark scientific reports are heightening concern over climate change. And companies are under pressure from banks and investors to green their corporate images.
The lawsuit seeks to prevent Deutsche Bank and Capital One from responding to subpoenas from two House panels seeking personal financial documents related to the president, his family and his company.
The House Financial Services Committee is grilling executives from seven banks Wednesday about overdraft fees and executive pay. The hearing comes 10 years after the financial crisis.
Wells Fargo announced Thursday that CEO and President Tim Sloan will step down immediately. The company's general counsel Allen Parker was elected to run the company until a new CEO is selected.
Both Republican and Democratic lawmakers question whether Wells Fargo has changed its culture away from fraud and mismanagement that have led to billions in fines and penalties against the bank.
In Sweden, few people use cash anymore. Most people pay by card, online or with digital apps, and that trend is spurring a new debate on whether going cashless is fair for everyone.
Wells Fargo will pay a civil penalty for allegedly selling residential mortgage loans that included misstated income information, the Justice Department said.
Comptroller of the Currency Joseph Otting is a former bank executive testifying before Congress this week about reshaping some banking rules. He wants big banks to start making small-dollar loans.
The Commonwealth Bank of Australia settled on allegations that it delayed reporting 53,000 transactions over a three-year period, some of which are thought to be tied to drug gangs and terrorism.
The House gave final passage to a bill that would allow banks with up to $250 billion in assets to escape some of the toughest regulations under the 2010 law meant to shore up the financial system.
The only money a Canadian family has recovered from a lost bank draft is the $32 it cost to ship the document. The family's bank, TD Canada Trust, has delayed reissuing the larger sum.
The rule, released by the Consumer Financial Protection Bureau in July, was aimed at "forced arbitration" clauses in consumer agreements with banks and credit card companies.
Federal Reserve Chair Janet Yellen's remarks in Jackson Hole, Wyo., on Friday put her at odds with President Trump. She applauded the post-crisis regulations that he says are hurting businesses.
Wells Fargo is facing another scandal. This time, the bank acknowledges it signed up nearly 500,000 auto-loan customers for insurance they didn't need. Thousands lost their cars to repossession.
