Banking

Exclusive news, analysis, and commentary of Wall Street investment banks, as well as other large commercial and regional banks.

Patent Drop

JPMorgan Patent Could Add Guardrails to AI in Banking

Photo via U.S. Patent and Trademark Office

Given that AI systems can’t always be totally accurate, observing when they make mistakes could mitigate a lot of harm.

2 min read
Banking

JPMorgan to Open Nearly 100 Chase Branches in Low-Income Neighborhoods

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JPMorgan Chase announced it will open nearly 100 brick-and-mortar locations in low-income inner-city and small-town American communities.

2 min read
Banking

BofA Bets on Brick-and-Mortar with 165 New Branches by 2026

Photo by Tony Webster via CC BY 2.0

Bank of America is counting on customers putting down their screens and driving over to an actual bank to speak with a human.

1 min read
Banking

German Government Investigates Itself Over UniCredit’s Shock Commerzbank Stake Purchase

Photo by Soenke Rahn via CC BY-SA 4.0

The German government launched an internal probe to figure out how it was blindsided by UniCredit staking a major position in Commerzbank.

1 min read
Banking

Regulators Point the Finger at Banks for Overdraft Fees, Fintech Records

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Two US financial regulators told banks Tuesday to step up protections for consumers: for overdraft fees and tracking fintechs.

1 min read
Banking

Fed Majorly Backtracks on Proposed Bank-Capital Hike

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The proposal to hike holdings for the biggest lenders to buttress market shocks was sliced more than in half.

2 min read
Banking

The EU Wants to Make Its Bankers More Fireable

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The German government is planning to make it easier for companies in the financial sector to fire high-earning employees.

1 min read
Banking

Wells Fargo Sells Most of Its Commercial Real Estate Servicing Business

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Wells Fargo said Tuesday that it will sell most of its commercial mortgage servicing business to Trimont, a global loan services provider.

1 min read
Banking

UBS Quarterly Profit Doubles Market Forecast

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UBS appears to have regained its form, reporting $1.1 billion in net income for the second quarter, doubling analyst estimates.

2 min read
Banking

Canada’s Scotiabank Stakes Out $2.8 Billion in US Lender KeyCorp

Photo by Ryan Sharpe via CC BY-SA 4.0

Canada’s Scotiabank, one of the country’s big six lenders, announced Monday that it bought a 14.9% stake in US regional lender KeyCorp.

1 min read
Banking

US Regulators Investigate Banks’ Responses to Scams on Zelle

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Major US banks are being probed by the Consumer Financial Protection Bureau (CFPB) over how they handle fraud on P2P payments app Zelle.

2 min read
Banking

Big Banks are Falling in Love with Mid-Sized Companies

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Wall Street’s biggest banks are increasingly working with mid-sized companies — much to the chagrin of mid-sized and boutique banks.

2 min read
Banking

Chase, PayPal Digital Ad Gambits Bring New Privacy Worries

Photo by Jan van der Wolf via Pexels

Unlike making a purchase on Amazon or eBay, financial transaction data gives a more complete profile picture.

2 min read
Advisor Upside

Wells Fargo Fires Employees for Pretending to Work

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Wells Fargo said the allegations involved “simulation of keyboard activity” that created the “impression of active work.”

2 min read
Banking

Jamie Dimon Seems Unfazed About JPMorgan’s Tepid China Business

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Despite some business “falling off a cliff” the CEO said other operations “should hopefully grow over time.”

2 min read
Banking

UBS Has Left its Credit Suisse Burden Behind

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Integration costs related to Credit Suisse were just over $1 billion, well below the $3.75 billion in the two previous quarters combined.

1 min read
Banking

UBS Mulls a Massive Cost-Cutting

Photo by Claudio Schwarz via Unsplash

The slow integration of Credit Suisse has only exacerbated existing problems with UBS’s asset management unit.

1 min read
Banking

Chinese Regulators See Regional Banks Headed for SVB-Style Chaos

Image Credit: Getty Images, awdebenharn.

Authorities are concerned about regional banks piling too heavily into longer-yielding government bonds in recent months.

2 min read
Banking

Goldman Sachs Leans On ‘Core Strengths’ to Crush Q1 Earnings

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In the first three months of the year, the investment bank scored a 16% jump in revenue and $4.1 billion in net income, a 28% rise.

2 min read
Banking

Jamie Dimon Sticks to His Cautious Worldview

Photo by Steve Jurvetson via CC BY 2.0

JPMorgan’s CEO sees a lot of potential in the US economy — and plenty of obstacles to overcome.

2 min read