Mike Cagney’s eventual successor will have to decide whether to continue his focus on rapid growth. Also on the table are strategic decisions about when to go public and whether to pursue a bank charter.
The Michigan company said the branch closures will save it $20 million a year. It also plans to devote fewer resources to indirect auto, where returns have trailed other lending categories.
Thirty-six lawmakers signed a bipartisan letter Tuesday calling for an investigation into the sale of stock by Equifax executives between a data breach at the firm and when it was disclosed.
JPMorgan Chase CEO Jamie Dimon predicted Tuesday that the market for bitcoin is on the verge of crashing, saying it was even worse than the infamous Dutch Tulip bubble.
A New Jersey politician has downplayed his Goldman Sachs career. The move shows that bankers have a ways to go rebuilding credibility with voters, though factors such as party affiliation, location and the type of banking career also matter.
A mismatch of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.
Tim Sloan told investors Tuesday that Wells could uncover more examples of financial harm to its customers as part of its ongoing review of its sales practices.
A new documentary airing on PBS Tuesday raises questions about why prosecutors targeted a small bank after the financial crisis and left bigger institutions untouched.
Index points to steady if slightly slower growth in the month. A key question: Do readings in delinquencies and loan rejections point to a turn in consumer credit?
