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. ... Read full article
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. ... Read full article
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. ... Read full article
The regulators plan to drop the 3% limit on bank investments in venture capital funds; Visa invests in another fintech startup. ... Read full article
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. ... Read full article
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." ... Read full article
Rohan Ramchandani claims in lawsuit Citigroup singled him out to protect itself; three federal agencies now back almost $7 trillion in mortgage debt. ... Read full article
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. ... Read full article
Some countries are toying with digitizing their currencies; NY Fed chief defends SOFR despite recent concerns about repo market volatility. ... Read full article
Pockets of job growth — in technology and compliance as well as from branch openings in new cities — are offsetting some of the dramatic cuts elsewhere at the world’s largest lenders. ... Read full article
Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit. ... Read full article
The two U.S. banks and Barclays have agreed to pay $91 million to settle claims that traders colluded to manipulate rates over a six-year span. ... Read full article
State Street, BNY Mellon, UBS and Credit Suisse are among the banks that have created a company to bring their idea of a utility settlement coin to life. ... Read full article
The Fed and FDIC found fault with resolution plans filed by four of the largest foreign lenders, though none of the shortcomings were severe enough to warrant rejecting the "living wills." ... Read full article
The two agencies seek to end the acrimony with the companies they regulate; the government is trying to make it easier for the wounded Deutsche Bank to merge with rival Commerzbank. ... Read full article
In public, finance industry leaders have bailed on a key Saudi Arabian investment conference next week. Behind the scenes, dealmakers bringing in the hard cash are fretting — and still going. ... Read full article
The chief executive officers of HSBC and Credit Suisse became the latest top bankers to abandon an investment conference in Saudi Arabia as pressure grows on the kingdom amid allegations it killed a dissident journalist. ... Read full article
Major banks including Goldman Sachs, Bank of America, Credit Suisse and JPMorgan Chase must face allegations that they conspired to prevent the "antiquated" stock loan market from evolving into a transparent electronic exchange. ... Read full article
Stock options offered employees during the financial crisis are now worth $3 billion; the JPM CEO says he talked with Jeff Bezos about a job two decades ago. ... Read full article
The New York-based online lender is turning to two European banks to fund loan growth in its overseas markets. ... Read full article
