The co-head of the bank’s securities division, 55, was once seen as a possible CEO; the institutions are gobbling up small banks at a record pace, prompting pushback from banks. ... Read full article
Citigroup quietly boosted its minimum wage to $15 an hour in June, joining competitors in awarding raises to rank-and-file staff. ... Read full article
Apple's new credit card isn't just another virtual card in its virtual wallet. It borrows a lot of features from the most successful brands in payments and technology. ... Read full article
The card company is buying the corporate-services businesses of Danish payments provider Nets A/S; the online lender’s stock plunged after it missed second quarter earnings expectations. ... Read full article
The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors. ... Read full article
The firm joins $40 billion “technology megafund” sponsored by SoftBank Group; company says partnerships are taking longer than expected to bear fruit. ... Read full article
The eight "systemically important" banks currently file resolution plans annually, but a pending proposal would require them every two years. ... Read full article
Several wealth management firms, including Marcus by Goldman Sachs and Wealthfront, have launched banking products to complement their investment services. ... Read full article
Finance ministers call for tight regulation of cybercurrencies; Williams says the Fed must “act quickly to lower rates at the first sign of economic distress.” ... Read full article
The company revealed its pretax losses for its forays into consumer and other digital banking services, which began in 2016 with the launch of a consumer deposit franchise and an installment loan product. ... Read full article
Raisin, an online marketplace that aggregates high-yield savings accounts in Europe, aims to launch in the U.S. in the next nine to 12 months. ... Read full article
CEO David Solomon said that Goldman is “absolutely’’ looking at digital currencies and conducting “extensive research’’ on tokenization. ... Read full article
The bank believes its U.S. unit will pass this year’s stress test but Fed restrictions will stay; COO is the second member of CEO’s inner circle to leave. ... Read full article
Customers of Marcus, the consumer lending arm that launched in 2016, defy easy categorization, according to an executive at the Wall Street bank. ... Read full article
Apple Inc. is ramping up a test of a digital-first credit card with Goldman Sachs Group Inc. by expanding its use to tens of thousands of the iPhone maker’s U.S. retail employees. ... Read full article
Goldman Sachs and Citigroup are among global firms postponing the transfer of several billion euros of capital outside the U.K. despite regulatory pressure to complete the move. ... Read full article
The bank is looking to combine several units that invest in income-producing assets; increased scrutiny has led banks to address the risks of climate change. ... Read full article
Both companies want money to be "programmable." But how to go about it is a matter of dispute. ... Read full article
The Goldman Sachs unit that offers savings accounts and makes personal loans says it will cover certain expenses for its customers who elect arbitration. ... Read full article
The digital bank is a whole new line of business for Goldman, meaning there's no risk that it is cannibalizing from the main institution, said Omer Ismail, the head of the bank's U.S. consumer business. ... Read full article
