A profile of New York's superintendent of banking offers insight into her thinking on hot regulatory issues; the women behind the machine learning at Morgan Stanley and UBS see a future with better advice; plus, Jane Austen and the new Doctor Who.
In a sign of broader competition ahead, bigger banks are raising the interest they pay on deposits held by business customers. The big question is how hard will it be for banks to maintain margins and to stave off consumer demands for better rates.
The Pittsburgh bank is developing new products, simplifying old ones and modernizing its workplace based on detailed feedback from consumers, small businesses and employees in an attempt to create a bank they all like better.
The bank's Costco card portfolio boosted profits (again), as did internal growth from store-branded cards from Home Depot and Best Buy. Citi’s card business is avoiding — for now — the pain in the retail sector.
While trading results reported Friday were worse than the firm had warned, 2Q earnings set a record and the company said it will increase loans this year at double the rate analysts expected.
What's more, loan officers' pay has dropped. At work behind these surprising trends is a blend of economic forces, technological change and pressure on banks to pay entry-level employees better.
The bank received conditional court approval to create a settlement fund of at least $142 million to cover 11 class actions filed after its fake-accounts scandal.
Energy sensors will let JPMorgan Chase master-control everything from office temperatures to sprinkler systems in an attempt to preserve the scale of its branch network but lower the costs.
