William Tirrell, the former head of regulatory reporting at the bank's Merrill Lynch unit, negligently caused the firm to violate securities rules but will pay no penalty, the SEC says.
Bank of America plans to provide a premium package that includes speaking directly to analysts, attending conferences and meeting senior executives of major companies and policymakers.
Following short-term disruptions from Harvey, Texas bankers expect a long-term lift to the local economy; Buffett’s company officially becomes the bank’s largest shareholder.
Dubbed Intelligent Receivables and created in partnership with a fintech company called HighRadius, the service seeks to help companies match incoming payments with invoices.
Credit card issuers have been trying to outdo each other to offer the best rewards program. And it shows, as customer satisfaction rates with many (but not all) of their banks have never been higher in a yearly J.D. Power study. But they may not last forever.
JPMorgan CEO Dimon says banks are putting Silicon Valley to shame … in terms of diversity; Uber’s plan to replace its CEO with a woman seems to be sputtering; and Yellen’s potential successors also are all men.
The largest banks are approving small-business loan applications at the fastest rate since the recession, a sign that that they are willing to assume more risk and taking seriously the threat of competition from online lenders.