Wells Fargo’s profits jump 47% amid dealmaking rebound
The megabank saw $5.1 billion in profits in its fourth quarter, as higher fees from investment banking and wealth management offset weaker interest income on loans.
JPMorgan Chase earnings lap analyst expectations
The $4 trillion-asset bank saw its investment banking business surge, while other products held steady.
JPMorgan returns to the office. Will other banks follow?
It’s not just JPMorgan Chase. Across the industry, banks are rethinking their remote-work policies — but experts say it won’t be easy to turn back the clock.
FDIC’s Gruenberg warns of risks associated with ‘innovation’
In what is likely his final speech before resigning as chair of the Federal Deposit Insurance Corp., Martin Gruenberg warned that novel products and services heralded as “innovation” often lead to financial crises without appropriate attention to market and supervisory fundamentals.
OCC fines three former Wells Fargo executives a combined $18.5 million
The Office of the Comptroller of the Currency issued fines amounting to $18.5 million to three former Wells Fargo executives in response to unsafe sales practices from 2013 to 2016.
Home Loan Banks gain flexibility under FHFA liquidity rule
The finalized rule adds flexibility to the capital rules applied to the Federal Home Loan Banks to help them extend credit to their members.
UPDATE: Speech: FDIC Chairman Martin J. Gruenberg at the Brookings Institution: Three Financial Crises and Lessons for the Future
SPEECH | JANUARY 14, 2025 (Updated to Correct Date) FDIC Chairman Martin J. Gruenberg at the Brookings Institution: Three Financial Crises and Lessons for the Future I would like to thank the Brookings Institution, and my friend Aaron Klein, for giving me the opportunity to speak to you today. For better or worse, over the […]
JPMorgan’s first female COO doesn’t want Dimon’s job
The largest U.S. bank by assets has elevated Jennifer Piepszak to chief operating officer, in preparation for Daniel Pinto’s retirement in 2026. But Piepszak is not interested in being CEO, the company said.
6 things banks look for in gen AI models and companies
At banks like Citi and SouthState, generative AI models are put through additional rounds of testing before they make it into the pilot stage.
More loan sales, M&A on the table as banks address CRE challenges
Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.