They've been raking in money thanks to the strong stock market, companies' appetite for debt and initial public offerings.
But if we're in for a double-dip recession, they'll need to set aside billions more than they currently have on hand.
Quarterly earnings for big banks like Citigroup and JPMorgan Chase are beating expectations thanks to a soaring stock market.
At the end of the first quarter of this year, U.S. consumers were a record $14.3 trillion in debt.
For eight hours, only smaller banks were able to process applications.
Reforms after the financial crisis haven't brought dramatic change.
For the first time since the financial crisis, the CEOs of the largest US banks testified to the House Financial Services Committee. James Gorman of Morgan Stanley, Jamie Dimon of JPMorgan Chase and Bank of America’s Brian Moynihan asked Congress to lower the high capital requirements. They say the rules, put in after the financial crisis, […]
The two sides will meet soon in federal appeals court.
Goldman Sachs reported quarterly profits today, beating analyst expectations. As is often the case on Wall Street, the ups were no match for the downs — like heavy legal expenses and weak trading results. But the big news for the bank was that a successor has been named to replace storied Goldman CEO, Lloyd Blankfein, who […]
With Fed giving Wells Fargo good marks on its financials, the bank tries to look beyond recent scandals
Wells Fargo has seen its share of bad headlines recently … from news it opened fake accounts, to a payout of $1 billion to settle claims of improper mortgage and auto lending practices. But there was a bright spot for the bank last week when it passed the Federal Reserve’s annual stress test, that measures […]