JPMorgan Chase denied a report in the German magazine WirtschaftsWoche that it's interested in acquiring a stake in Deutsche Bank, after the lender's share price slumped.
Deutsche Bank's U.S. business was put on a Federal Reserve list of problem banks and added to a group of troubled lenders monitored by the FDIC, according to a person familiar with the matter.
Deutsche Bank Chief Executive Officer Christian Sewing said the lender is committed to the U.S., seeking to dispel "rumors" to the contrary as the firm cuts back in some businesses there.
Banks feeling the pressure in commerical lending from lightly-regulated, cash-flush competitors; financial institutions take "an increasingly militarized approach" to fighting cybercrime.
The German banking giant isn’t targeting a specific level of cuts in the U.S. and the final figure will depend on each business line’s decisions, a source said. The U.S. makes up about one-tenth of its global workforce.
Ryan, McConnell say they have a deal on a bipartisan Dodd-Frank rollback; New York won more than $5 billion in settlements from big banks under the former AG.
