May 1, 2023
“Regulators took possession of First Republic on Monday, resulting in the third failure of an American bank since March, after a last-ditch effort to persuade rival lenders to keep the ailing bank afloat failed. JPMorgan Chase , already the largest… Continue Reading…
April 18, 2023
“Bank of America BAC +2.88% ‘s first-quarter earnings topped expectations, continuing a trend at peer banks earlier this month. The bank’s profit rose 15% to $8.2 billion, or 94 cents a share, topping expectations that it would earn 81 cents… Continue Reading…
April 18, 2023
“Goldman Sachs posted first-quarter profit on Tuesday that missed analysts’ expectations for revenue after taking a $470 million hit tied to the sale of consumer loans. Here’s what the company reported: The bank said earnings fell 18% to $3.23 billion,… Continue Reading…
April 5, 2023
“The Justice Department on Tuesday criminally charged Charlie Javice, founder of college financial planning platform Frank, with defrauding JPMorgan Chase out of $175 million. Javice, 31, is accused of “falsely and dramatically” inflating the number of customers Frank actually had… Continue Reading…
April 4, 2023
“Credit Suisse Chairman Axel Lehmann on Tuesday told shareholders he was “truly sorry” for the collapse that led to the bank’s controversial takeover by UBS… A police presence was established early Tuesday at the venue, as protesters and shareholders began… Continue Reading…
March 29, 2023
“Finance Minister Chrystia Freeland is planning to raise billions of dollars from banks and insurance companies by changing the tax rules for dividends they get from Canadian firms… In a measure that officials billed as closing a loophole, Canada will… Continue Reading…
March 29, 2023
“Credit Suisse, the collapsed Swiss bank taken over by UBS Group in a hastily arranged bailout earlier this month, may bring with it a fresh set of regulatory and legal problems for its new owner. For years, the bank has… Continue Reading…
March 28, 2023
“In less than a week, the U.S. banking system has suffered two of the largest collapses in American history. Regulators shut down Silicon Valley Bank on Friday after customers rushed to withdraw their money as fears rose about the bank’s… Continue Reading…
March 28, 2023
“Odds of the US economy backsliding into a recession are higher now than a month ago after steady interest-rate hikes by the Federal Reserve and growing risks of tighter credit conditions in the wake of several bank failures… The probability… Continue Reading…
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