News Topic: Bank stocks

They are under less pressure from policymakers to halt repurchase plans, but some have already hit the brakes and others may unofficially do so if the pandemic worsens. ... Read full article

Sen. Sherrod Brown of Ohio, the top Democrat on the Banking Committee, said financial institutions "need to be investing in their communities right now, not investing in their CEOs’ stock portfolios.” ... Read full article

Investors worry the drop in crude prices could spark a rash of defaults; the bank denies it opened accounts without customer permission to meet sales quotas. ... Read full article

Concerns about the economic fallout of coronavirus have mostly focused on supply chain disruptions. But fears are growing that weakening consumer demand could spark a recession. ... Read full article

Elizabeth Duke and James Quigley step down from board; the bank is asking corporations to divulge their exposure and preparations as part of risk assessment. ... Read full article

Fed makes emergency cut, JPMorgan tests contingency plan; the justices appeared divided on whether to give the president power to fire the agency’s director. ... Read full article

The bank agreed to pay $35 million to settle SEC charges it recommended high-risk ETFs to some customers; coronavirus fears continue to batter financial shares. ... Read full article

JPMorgan would consider buying other businesses; collectors would be allowed to pursue debt past the statute of limitations, if they warn borrowers. ... Read full article

The bank is offering big bonuses to hire new financial advisors; recent share repurchases have raised the cost of future rebuys. ... Read full article

A fifth of U.S. banks may lack the stock multiples it takes to pursue acquisitions, so they're looking for other ways to improve results and deploy capital. ... Read full article

The credit card lender has seen problem loans spike since it introduced a feature that lets at-risk customers restructure loans through its online and mobile channels. ... Read full article

Moynihan says the bank’s consumer market share could be doubled; retail terminals would connect customer’s hand print with their card information. ... Read full article

Despite the weaker-than-expected results, interim CEO Thomas Gibbons pledged to continue spending heavily on tech upgrades aimed at cutting costs, improving efficiency and developing innovative products. ... Read full article

Estimates for 2020 are for a combined profit drop of $10 billion as global interest rates remain stubbornly low and geopolitical tensions stay high. ... Read full article

Goldman Sachs plans to offer details into its workings to boost its stock value; while challenger banks are prospering, traditional banks still rule the roost. ... Read full article

Net interest margin pressure, modest loan growth and limited operating leverage could weigh on bank stocks in 2020, UBS analysts said. ... Read full article

The fresh optimism is starting to outweigh some of the worries hanging over the sector heading into the new year. ... Read full article

Warren Buffett's Berkshire Hathaway is seeking permission from the Federal Reserve to potentially increase its stake in Bank of America to more than 10%, a level that often triggers a regulatory review. ... Read full article