Credit Suisse

JPMorgan, Wells brace for impact; Credit Suisse asked to block bonuses


The two U.S. banks set aside a combined $10 billion for future loan losses, which may not even be enough; a proxy firm says the Swiss bank did not adequately punish former executives for spying scandal.


A blockchain breakthrough at Credit Suisse. Will other banks follow?


An innovative approach to settling trades pioneered by the bank and the tech firm Paxos Trust could start a wave of real-life use of distributed ledgers on Wall Street.


Moynihan’s pay holds steady; cryptocurrency scams flourish


The BofA CEO’s $26.5 million salary was about the same as in 2018; investors hoping for quick riches still fall for cryptocurrency-based Ponzi schemes.


Boardroom war at Credit Suisse; HSBC still looking for CEO


The bank’s top shareholders want the chairman to quit if he won’t support the CEO; HSBC expected to go forward with job cuts while searching for permanent boss.


Fed, OCC to propose easing Volcker rule; Visa's fintech interest


The regulators plan to drop the 3% limit on bank investments in venture capital funds; Visa invests in another fintech startup.


JPM wins a place in China; banks again warned about replacing Libor


The bank is the first U.S. one approved for a majority-owned securities unit in China; the FSB said banks must get serious about replacing the benchmark.


PayPal quits Libra project; HSBC to cut 10,000 employees


The decision is a blow to Facebook's digital currency plans; the reduction is the bank’s “most ambitious attempt to rein in costs in years."


Trader says bank framed him; Government big on housing


Rohan Ramchandani claims in lawsuit Citigroup singled him out to protect itself; three federal agencies now back almost $7 trillion in mortgage debt.


Fannie, Freddie to retain earnings; PayPal wins Chinese payments license


The GSEs will hold onto a combined $45 billion as they start the process of going private; PayPal becomes the first foreign firm to win approval to enter the country’s payments market.


Experimenting with digital currencies; Questioning SOFR


Some countries are toying with digitizing their currencies; NY Fed chief defends SOFR despite recent concerns about repo market volatility.