Banks
In split decision, court clears Trump to restart CFPB mass firings
The entrance to the Consumer Financial Protection Bureau (CFPB) headquarters is seen during a protest on Feb. 10, 2025 in Washington, DC. Anna Moneymaker | Getty Images A divided federal appeals court on Friday cleared U.S. President Donald Trump to resume mass firings at the Consumer Financial Protection Bureau, ruling that a lower court had […]
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New York AG James sues Zelle parent company for alleged fraud
Key Points New York Attorney General Letitia James sued the parent company of payment network Zelle for allegedly enabling fraud. James alleged that the company knew about ongoing fraud between 2017 and 2023 and did not take actionable steps to resolve it. The lawsuit follows a similar one by the Consumer Financial Protection Bureau that […]
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Trump tells Goldman Sachs CEO David Solomon to replace economist over tariff predictions
FILE PHOTO: DJ D-SOL performs during the ‘Safe & Sound’ Drive-In Concert Fundraiser Presented by JAJA Tequila and In The Know Experiences In Partnership with Bumble at Nova’s Ark Project on July 25, 2020 in Water Mill, New York. Kevin Mazur | Getty Images President Donald Trump on Tuesday said that Goldman Sachs CEO David […]
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How dealmaking king Goldman Sachs aims to dominate another corner of Wall Street
Goldman Sachs has long been considered the king of Wall Street dealmaking. Now, the bank is increasing its focus on another target: managing money for wealthy clients and institutions. Investment banking services, like underwriting initial public offerings (IPO) and advising mergers and acquisitions (M & A), have long been Goldman’s bread and butter. In fact, […]
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AI is already impacting the labor market, starting with young tech workers, Goldman economist says
A screen displays the the company logo for Goldman Sachs on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 7, 2025. Brendan McDermid | Reuters Changes to the American labor market brought on by the arrival of generative AI are already showing up in employment data, according to […]
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Trump says JPMorgan Chase, Bank of America rejected him as a bank customer
watch now VIDEO6:2406:24 President Trump says JPMorgan Chase and Bank of America rejected him as a customer Squawk Box President Donald Trump said Tuesday that the two largest U.S. banks rejected him as a customer, reviving claims that conservative customers were being unfairly denied accounts. JPMorgan Chase informed him that he had 20 days to […]
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Top UK court to rule on car finance mega-scandal — with billions at stake
Key Points Britain’s top court is poised to deliver a highly anticipated judgment on the country’s multi-billion-pound car finance debacle. The crisis has drawn comparisons to Britain’s Payment Protection Insurance scandal, which was estimated to have cost lenders more than £50 billion ($66.1 billion). Notably, analysts at RBC Capital Markets slashed their estimates for how much […]
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JPMorgan marks 1,000th branch opening since 2018 expansion plans
A new JPMorgan Chase branch in Charlotte, North Carolina. Courtesy: JPMorgan Chase JPMorgan Chase has built 1,000 new branches in seven years. That’s more locations than most of its competitors operate in total. The bank is marking the milestone opening in Charlotte, North Carolina, on Thursday where Chairman and CEO Jamie Dimon is attending a […]
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Why Revolut’s journey to become a UK bank is taking so long
Key Points Revolut was granted a banking license with restrictions in July 2024 from the U.K.’s Prudential Regulation Authority (PRA). A year on, the fintech giant is still in a “mobilization” phase which limits the amount of customer deposits it can hold. Analysts say there are a number of reasons why Revolut’s authorization process is taking […]
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UBS posts better-than-expected quarterly profit
A logo of Swiss banking giant UBS in Zurich, on March 23, 2023. Fabrice Coffrini | Afp | Getty Images Swiss banking titan UBS on Wednesday beat expectations on the bottom line, as group invested assets soared on the back of increases in the lender’s global wealth management and corporate units. Net profitable attributable to […]
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