News Topic: HSBC

The overhaul calls for massive job cuts but leaves interim CEO Noel Quinn’s permanent role in limbo; the program would throw out most of Trump’s Dodd-Frank rollbacks. ... Read full article

The bank still plans to open branches on the West Coast even as it trims its overall U.S. footprint by 30%. ... Read full article

The bank's announcement that it will slash about 35,000 staff and take $7.3 billion of charges prompted its stock to tumble and renewed questions about the bank's direction and lack of a permanent CEO. ... Read full article

Black-owned OneUnited is getting grief for its depiction of the abolitionist on a debit card; the bank plans $4.5 billion in cost cuts, with 35,000 jobs cut. ... Read full article

Authorities looking into Barclays CEO’s dealings with Jeffrey Epstein; controversial pick Judy Shelton, critics charge, would jeopardize Fed independence. ... Read full article

The bank’s top shareholders want the chairman to quit if he won’t support the CEO; HSBC expected to go forward with job cuts while searching for permanent boss. ... Read full article

With mobile banking on the rise, New York City is joining a trend that's already sweeping the rest of the country. Fewer bank branches. Smaller bank branches. ... Read full article

The effort is part of a push by interim Chief Executive Officer Noel Quinn to cut costs at Europe’s largest lender by assets. ... Read full article

The central bank gave the seven banks passing grades on their stress tests but said that they will need to start holding more high-quality capital to guard against a potential economic downturn. ... Read full article

The $26 billion all-stock deal has the OK of the boards from both companies; the administration says it will move on privatization without federal backing. ... Read full article

The payments company has loaned $5.5 billion to 275,000 small businesses, thanks to a data-driven process free from human interaction. ... Read full article

The charter may provide greater confidence for digital currency investors; bank expects to make large-scale job cuts in its global banking and markets unit. ... Read full article

Division is making progress, helped by a rise in branded credit cards; about 200 bankers in agriculture and energy lending let go in recent months. ... Read full article

Santander Consumer is planning to attract online deposits via a national platform that could rival Goldman Sachs’s Marcus; HSBC is now in retrenchment mode after aiming for growth. ... Read full article

Consumer banking is expected to offset the banks’ underperforming Wall Street units; the defections of Visa, Mastercard and Stripe threaten the cyrpto project’s viability before it starts. ... Read full article

Europe would feel the brunt of the reductions, which would affect about 4% of the bank's global workforce. ... Read full article

The decision is a blow to Facebook's digital currency plans; the reduction is the bank’s “most ambitious attempt to rein in costs in years." ... Read full article

HSBC's shortlist for its next chief executive officer includes Stephen Bird, Citigroup's head of global consumer banking, and RSA Insurance Group CEO Stephen Hester, Britain's Sunday Times newspaper reported. ... Read full article