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Wall Street’s dramatic year ends with flat bonuses for traders
Rewards jumped as the Covid-19 pandemic spurred trading and deals in 2020, eventually setting off a war for talent. They then collapsed last year as rising interest rates put a damper on client activity — a malaise that stretched through 2023.
JPMorgan among winners as Latin American wealth flocks to Miami
Wealth under management in Miami from Mexico clients alone increased by roughly 10% this year at JPMorgan, with similar gains coming from Argentina, Chile, Peru and several other Latin American nations.
Not so fast, state AGs. Banks don’t owe you automatic data access
Federal banking agencies should disregard a demand by state attorneys general that national banks be instructed to provide investigators with bank records outside of a court proceeding.
Cevian takes $1.3 billion UBS stake saying bank undervalued
The Stockholm-based firm announced Tuesday that it has amassed a stake of about 1.3% in the Swiss bank over the course of this year, making it one of the lender’s biggest shareholders.
How generative AI is upending tech at big payment companies
Visa, Mastercard and Global Payments discuss impacts on customer service, web content, security and more.
Navy Federal faces lawsuit, allegations of racial bias in mortgage lending
The lawsuit accuses Navy Federal of violating the Fair Housing Act and the Equal Credit Opportunity Act after a report from CNN found that the lender approved a lower percentage of Black and Latino mortgage applicants.