State Street is said to lay off 15% of senior managers


New CEO Ronald O'Hanley is pushing to reduce expenses, automate more functions and simplify the organizational structure.


Updated GSE plan, CECL change, Wells layoffs: Top stories of the week


Moelis submits a revised Fannie/Freddie blueprint; FASB considering a plan to have banks break out charge-offs and recoveries on year-by-year basis; Wells Fargo layoffs begin with 1,000 jobs in mortgage and tech; and more from this week's most-read stories.


Wells Fargo layoffs begin with 1,000 mortgage, tech jobs


Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.


Chase Bank to cut 400 mortgage jobs


JPMorgan Chase is eliminating 400 positions in its mortgage banking unit, the latest lender to trim staff as a result of lower-than-expected demand in 2018.


USAA to cut 265 jobs in its real estate and mortgage lending divisions


USAA will be eliminating 265 home sales and lending positions, but it already has offered nearly 100 of the affected workers different jobs within its mortgage unit.


Wells Fargo to cut up to 26,000 jobs within three years


The cuts are part of a broader effort to trim expenses by roughly $3 billion a year by 2020.


Wells Fargo to cut over 600 mortgage employees on lower volume


Wells Fargo & Co. is cutting 638 mortgage employees as the nation’s largest home lender contends with a slowdown in the business.


Layoffs at JPM; SEC rejects nine bitcoin ETFs


The 100 dismissals in asset management follow job cuts in other divisions; the agency cites the lack of protections against fraud and market manipulation.


More job cuts planned for Banc of California


Banc of California in Santa Ana will cut roughly 9% of its workforce as it looks to trim $15 million in expenses.


HomeStreet cutting more mortgage jobs, closing 18 lending centers


The Seattle company is firing 127 people, or a tenth of its mortgage staff, after enduring months of slow activity.