Wells customers phished, Fed caps dividends, Citi’s new ops chief: Top stories of the week


Wells Fargo customers targeted with phishing attacks using calendar invites; Fed freezes stock buybacks, caps dividends after stress test results; Citigroup names Titi Cole its head of global operations and fraud prevention.


Dimon counsels against bank stock buybacks; Texas banks call off merger


The JPMorgan CEO says the recovery has to start first, and future buybacks won’t be as big as before; Texas Capital Bancshares and Independent Bank blame the coronanvirus market impact.


Otting makes it official; Morgan Stanley's Gorman: Hold the stock buybacks


The comptroller of the currency will be replaced by his COO, Brian P. Brooks, on an acting basis; CEO James Gorman says the economy needs to be on steadier ground first.


After big banks suspend stock buybacks, will regionals follow suit?


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.


Eight giant U.S. banks to suspend stock buybacks through June


The banks — including JPMorgan Chase, Bank of America, Wells Fargo and Citigroup — agreed to stop buying back their own shares through the second quarter, saying they will focus on supporting clients and the nation during the coronavirus pandemic.


Senator urges banks to stop stock buybacks during coronavirus outbreak


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.”


Fed finalizes new capital buffer ahead of 2020 stress tests


The rule establishes a measure of capital adequacy meant to simplify how banks are assessed in the Comprehensive Capital Analysis and Review program.


Wells paying up to recruit brokers; Will JPM’s stock buybacks slow?


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


Goldman may change its focus; Credit Suisse revamps investment bank team


Goldman may abandon its revenue goal; in an attempt to boost revenue, Credit Suisse picks new leaders for its investment banking and capital markets unit.


Payday loans for employees; Deutsche Bank CEO pledges big stock buy


A growing number of companies, led by Walmart, are offering payroll advance loans to their workers; Christian Sewing said he will invest 15% of his net earnings in the German bank’s struggling shares.