A House Financial Services Committee hearing featuring seven large-bank CEOs tackled a host of contentious subjects, as Republicans and Democrats sparred over whether such institutions are simply too big.
Hundreds of thousands of jobs have disappeared on Wall Street since the 2008 financial crisis and some of the biggest banks haven't stopped cutting. Still, some firms managed to reverse the trend and are slowly boosting staff levels.
Citigroup earned the lone "A" on an investment firm's scorecard that measures companies' commitments to closing the pay gap between men and women. Goldman Sachs was one of four banks to receive an "F."
The flagship division is on course to miss next year’s financial projections; Investors may be using SOFR swaps as a hedge against expected volatility.
Letters to eight bank CEOs from the Idaho senator were a rebuttal to calls by some Democrats for financial institutions to cut ties with firearms manufacturers, prison companies and others.
Billions of dollars in investments are pouring into digital payments, but the hefty numbers obscure a regulatory and competitive squeeze that could shut banks out of the profits for good.
