The FDIC is investigating Blackrock, Vanguard, and State Street over their large investment stakes in major US banks.
The total reflects big banks’ increasing use of alternative financial institutions that are using the funds for riskier bets.
As the world of high finance ushers in an era of AI, the SEC has begun investigating how investment advisory firms use the technology.
Top bosses from eight major financial institutions appeared before a Senate committee to give their opinion on looming banking reforms.
Watchdogs have been badgering Wells Fargo about its lackadaisical approach to monitoring and preventing financial crimes.
Of the roughly 4,400 operating banks in the US, nearly half of all banking profits in the third quarter came from just four.