The lawmakers are calling on banks to follow the lead of Citigroup and Bank of America in limiting their business with firearms dealers in light of recent mass shootings.
The investment bank has asked Rob Rooney, an executive who wore multiple hats at the company, to focus full time on the data-oriented strategy he has devised for its wealth management, capital markets and other functions.
Mark Begor, a former long-time GE Capital executive, faces lots of challenges as the credit bureau recovers; CEO dismisses “widespread rumors” that the bank wants to replace him.
Wells has helped gun and ammunition companies access $431 million in loans and bonds since the 2012 Sandy Hook shooting. Other financial firms that are active as bookrunners for gunmakers include Morgan Stanley, TD Securities, Bank of America and JPMorgan Chase.
The Japanese cryptocurrency exchange Coincheck says roughly $400 million of the digital currency NEM was stolen. If banks and others are to invest in the digital-asset industry, it will have to do better.
Bank says most of the benefits from tax reform will be used for dividends and buybacks; Michael Loughlin will stay on until his replacement is named later this year.
The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.
The Protocol for Broker Recruiting, signed in 2004, was designed to mitigate lawsuits when advisers left to join a competitor. Recent high-profile defections have raised concerns that the accord could unravel.
