New technologies are poised to sweep through investment banks, relieving many rank-and-file employees of roughly a third of their current workload, according to McKinsey & Co.
Clearing services, assets under custody and administration and other parts of the trust bank's operations rose in the second quarter, all good news as it shifts leadership from Gerald Hassell to former Visa CEO Charlie Scharf.
The Supreme Court recently granted certiorari in PEM Entities LLC v. Levin, in which it will decide whether federal or a state law should apply when a debt claim held by a debtor’s insider is sought to be recharacterized in bankruptcy as a capital contribution and treated as equity. The case raises important questions about the extent to which the commencement of a proceeding under the U.S.
Citigroup is expanding its payments partnership to allow its card members to use their ThankYou rewards points for purchases at PayPal checkout in the U.S.
Acting Comptroller Keith Noreika says his agency is prepared to defend its authority to grant banking licenses to fintech firms; lawmakers hopeful they can block anti-arbitration rule before it takes effect.
