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Citigroup employees, on edge over layoffs, told they can work remotely until the new year
Jane Fraser, CEO of Citigroup, testifies during a Senate Banking Committee hearing at the Hart Senate Office Building on December 06, 2023 in Washington, DC. Win Mcnamee | Getty Images Citigroup told most of its employees that they can work remotely the final two weeks of December, CNBC has learned. Workers can log in remotely […]
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Regulators caught Wells Fargo, other banks in probe over mortgage pricing discrimination
People pass by a Wells Fargo bank on May 17, 2023 in New York City. Spencer Platt | Getty Images Wells Fargo was snared in an industrywide probe into mortgage bankers’ use of loan discounts last year, CNBC has learned. The discounts, known as pricing exceptions, are used by mortgage personnel to help secure deals […]
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Wall Street CEOs say proposed banking rules will hurt small businesses, low-income Americans
(L-R) Brian Moynihan, Chairman and CEO of Bank of America; Jamie Dimon, Chairman and CEO of JPMorgan Chase; and Jane Fraser, CEO of Citigroup; testify during a Senate Banking Committee hearing at the Hart Senate Office Building on December 06, 2023 in Washington, DC. Win Mcnamee | Getty Images Wall Street CEOs on Wednesday pushed […]
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Wells Fargo CEO warns of severance costs of nearly $1 billion in fourth quarter as layoffs loom
Charlie Scharf, CEO, Wells Fargo, speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. Patrick T. Fallon | Afp | Getty Images Wells Fargo CEO Charlie Scharf said Tuesday that low staff turnover means […]
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Jamie Dimon says JPMorgan Chase would exit China if ordered to
Chairman and C.E.O. of JPMorgan Chase & Co. Jaime Dimon speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty Images JPMorgan Chase CEO Jamie Dimon said Wednesday that his bank would exit China if the U.S. government ordered him to. “If the […]
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These regional banks are at greatest risk of being taken over by rivals, according to KBW
A customer enters Comerica Inc. Bank headquarters in Dallas, Texas. Cooper Neill | Bloomberg | Getty Images A trio of regional banks face increasing pressure on returns and profitability that makes them potential targets for acquisition by a larger rival, according to KBW analysts. Banks with between $80 billion and $120 billion in assets are […]
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Goldman Sachs paid pro golfer Patrick Cantlay more than $1 million annually, sources say
Patrick Cantlay of the United States plays his shot from the 18th tee during the final round of the Workday Charity Open on July 12, 2020 at Muirfield Village Golf Club in Dublin, Ohio. Sam Greenwood | Getty Images Goldman Sachs paid professional golfer Patrick Cantlay more than $1 million annually in a sponsorship deal […]
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Citigroup considers deep job cuts for CEO Jane Fraser’s overhaul, called ‘Project Bora Bora’
CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC. Alex Wong | Getty Images When Citigroup CEO Jane Fraser announced in September that her sweeping corporate overhaul would result in an undisclosed number […]
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Amazon to unveil buy now, pay later option from Affirm for small business owners
Alain Jocard | AFP | Getty Images Amazon is unveiling its first buy now, pay later checkout option for the millions of small business owners that use its online store, CNBC learned exclusively. The tech giant plans to announce Thursday that its partnership with Affirm is expanding to include Amazon Business, the e-commerce platform that […]
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JPMorgan Chase stock slips after bank says CEO Jamie Dimon is selling 1 million shares
JPMorgan Chase CEO Jamie Dimon will begin to sell one million shares of the bank he runs next year, the company said Friday in a filing. The plan sparked concern that Dimon, 67, could be contemplating retirement. Dimon is arguably the country’s top banker. He has led JPMorgan since 2005, helping build it into the […]
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