The Salt Lake City company, which connects small-business owners with lenders like JPMorgan and BofA, plans to use the funds to expand its partnerships and customer base.
Major U.S. banks shaved about $21 billion from their tax bills last year — almost double the IRS’s annual budget — as the industry benefited more than many others from the Republican tax overhaul.
The bank said it will hold back bonuses to its former CEO and others as it probes the 1MDB scandal; the House is looking into the bank’s loans to Trump's firm.
As the consumer lender announced its seventh consecutive profitable quarter, its CEO bragged that his company is better positioned than the likes of Goldman Sachs and LendingClub.
Wells says it's made progress but needs to do more to rebuild trust with customers and regulators; despite rate hikes by the Fed, big banks continue to effectively pay nothing in interest to savings customers.
In letters to the Treasury secretary and CEOs of the largest banks, the Massachusetts Democrat questioned why Mnuchin was trying to quell liquidity fears that had not previously been mentioned by regulators.
Goldman Sachs Group Inc., owner of one of Wall Street’s top deal-making franchises, leaned on that business last quarter to overcome an industrywide downturn in fixed-income trading.
