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.
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.
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."
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.
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.
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.
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.
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.
