Bank job cuts expected to top 60,000 globally in 2020


Led by HSBC, European banks account for the largest share of the announced reductions, according to a Bloomberg analysis.


Fed corrects stress test error for Morgan Stanley, Goldman Sachs


The central bank said it had miscalculated the loss rates for certain public welfare investments, which led to incorrect capital requirements for the two companies.


Big banks hire 19,000 with pandemic boosting demand for services


Eight of the top 15 firms increased headcount this year through June, while only four reduced it.


HSBC promotes Lowthian to head of U.S. compliance


Longtime executive Christine Lowthian had been serving as interim chief compliance officer at HSBC Bank USA since April.


Software for detecting financial crime is in high demand. Here’s why.


Banks' fear of big penalties, the changing tactics of nimble criminals and a greater openness among regulators to new approaches are among the factors driving big investments.


HSBC plans to double mobile bank users in cost-cutting drive


HSBC is planning to shift services away from its branches in a push to make more of its customers migrate to its digital and mobile channels as it embarks on a massive cost and jobs cutting program.


HSBC resuscitates plan to cut 35,000 jobs to boost growth


The bank joins rivals such as Deutsche Bank AG and UniCredit SpA in forging ahead with job cuts that were put on hold at the outset of the pandemic.


FDIC eyeing bank dividends; Morgan Stanley sued by former diversity head


Banks paid out nearly twice as much as they earned in the first quarter; Marilyn Booker, a managing director, said she was fired in December for pushing too hard on a diversity plan.


Bank stocks slump on Fed forecast; Quicken going public


Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering.


PPP moves to stage two; HSBC chided for 'kowtowing' to Beijing


Small businesses that took out the loans will soon be applying for forgiveness; U.S. Secretary of State Pompeo and one of HSBC's large investors criticized the bank for buckling to Chinese pressure.