Savings for the top six U.S. banks from President Donald Trump's signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders.
Goldman Sachs Group Inc.’s comeback quarter for trading was marred by a $1.09 billion legal charge as the firm gets closer to a settlement of the 1MDB scandal.
Marcus and the Apple credit card accounted for 3% of the bank’s profit in the first three quarters of 2019, despite a multibillion-dollar investment in consumer operations; the senator’s plan would make it easier to expunge debt.
Goldman Sachs plans to offer details into its workings to boost its stock value; while challenger banks are prospering, traditional banks still rule the roost.
The bank announced a $750 billion plan to “focus on climate transition and inclusive growth”; the seven biggest banks have passed three years in a row.