Banks

JPMorgan Chase CEO Jamie Dimon says the coronavirus pandemic will have devastating consequences for the global economy.

Economy

Jamie Dimon Warns 'A Bad Recession' Is Coming

10:04am April 07, 2020

by Jim Zarroli

In a letter to shareholders, the JPMorgan Chase CEO applauds the government and the Fed for quick work, but says the pandemic will have devastating consequences for the global economy.

A woman wearing gloves pays for her purchase at a supermarket in Los Angeles. Bank regulators are urging consumers not to hoard cash, after reports of large withdrawals by some customers worried about the coronavirus.

Economy

Don't Dash For Cash: Authorities Say There's No Need To Empty The ATM

8:09pm March 26, 2020

by Scott Horsley

Regulators urge consumers not to drain their bank accounts, after reports of large withdrawals by some customers worried about the coronavirus. The FDIC reminds us the accounts are insured.

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The Student Borrower Protection Center, a watchdog group, says one lender seems to charge higher rates to graduates of historically black colleges.

Graduates Of Historically Black Colleges May Be Paying More For Loans: Watchdog Group

11:27am February 05, 2020

by Chris Arnold

Graduates of historically black or predominantly Hispanic colleges might be paying more to borrow money because of where they went to school, according to a report from a financial watchdog.

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Bernadette Demientieff of the Gwich'in Steering Committee participates in a December 2017 event in Washington, D.C., at which advocates pushed Congress to protect the Arctic National Wildlife Refuge from oil development.

As Climate Warnings Grow Dire, Energy Companies Face A 'New Frontier Of Threats'

4:18pm December 02, 2019

by Avery Ellfeldt

Natural disasters, protests and stark scientific reports are heightening concern over climate change. And companies are under pressure from banks and investors to green their corporate images.

President Trump is suing Deutsche Bank, as well as Capital One, in attempt to block the banks from responding to subpoenas from two House panels seeking personal financial documents related to the president, his family and his company.

Politics & Government

Trump Sues 2 Banks To Block Democrats From Investigating His Finances

5:11pm April 30, 2019

by Jim Zarroli

The lawsuit seeks to prevent Deutsche Bank and Capital One from responding to subpoenas from two House panels seeking personal financial documents related to the president, his family and his company.

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Citigroup Chief Executive Officer Michael Corbat (from left), JPMorgan Chase CEO Jamie Dimon and other top bank executives are sworn in before testifying before the House Financial Services Committee on Wednesday.

How'd You Feel If Your Boss Made $486 For Every Dollar You Make?

5:48pm April 10, 2019

by Jim Zarroli

Citigroup's CEO received $24 million in compensation last year, while the median employee pay at the bank was just under $50,000. Executive pay was one of the issues at a House hearing Wednesday.

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Wells Fargo CEO Timothy Sloan is questioned by the House Financial Services Committee earlier this month. He will step down immediately, the company announced Thursday.

Economy

Wells Fargo CEO Quits In Wake Of Consumer Financial Scandals

5:11pm March 28, 2019

by Jennifer Liberto

Wells Fargo announced Thursday that CEO and President Tim Sloan will step down immediately. The company's general counsel Allen Parker was elected to run the company until a new CEO is selected.

Wells Fargo CEO Timothy Sloan faced hours of questioning Tuesday from both Republicans and Democrats on the House Financial Services Committee.

Politics & Government

CEO Says Wells Fargo Has Transformed After Scandals; Lawmakers Are Skeptical

5:52pm March 12, 2019

by Daniella Cheslow

Both Republican and Democratic lawmakers question whether Wells Fargo has changed its culture away from fraud and mismanagement that have led to billions in fines and penalties against the bank.

The Urban Deli cafe in Stockholm no longer accepts cash for any transactions. Going cashless is a growing trend throughout Sweden that some are beginning to question.

Economy

Sweden's Cashless Experiment: Is It Too Much Too Fast?

8:07pm February 11, 2019

by Maddy Savage

In Sweden, few people use cash anymore. Most people pay by card, online or with digital apps, and that trend is spurring a new debate on whether going cashless is fair for everyone.

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Wells Fargo will pay a $2.09 billion civil penalty for allegedly selling residential mortgage loans that included misstated income information, the Justice Department said.

National

Wells Fargo To Pay $2 Billion Penalty Over Bad Information Used To Sell Mortgages

3:32pm August 01, 2018

by Avie Schneider

Wells Fargo will pay a civil penalty for allegedly selling residential mortgage loans that included misstated income information, the Justice Department said.