The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal.
The country's biggest bank is leaning more on fee income to offset rate pressures, expanding in selected U.S. cities and laying the groundwork for operations in China that CEO Jamie Dimon hopes will endure “for 100 years.”
The bank is investing in a new authentication platform because password-based security systems have too many weaknesses, says Juan Francisco Losa, BBVA’s global head of security architecture.
In a letter to the agency's inspector general, the 15 lawmakers pointed to specific cases where they said the bureau departed from legal standards in deciding not to require restitution.
Lawmakers advanced legislation that would require banking regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts.
