Morning scan

Moynihan’s pay holds steady; cryptocurrency scams flourish


The BofA CEO’s $26.5 million salary was about the same as in 2018; investors hoping for quick riches still fall for cryptocurrency-based Ponzi schemes.


Credit Suisse CEO leaves; Fannie, Freddie to buy SOFR mortgages


Tidjane Thiam submits his resignation; the two agencies said they will soon start accepting mortgages tied to the new rate and drop Libor by yearend.


Boardroom war at Credit Suisse; HSBC still looking for CEO


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.


Fed bars another Goldman banker for 1MDB; SEC readies major crypto suit


The bank’s former Asia investment banking co-chief is its third executive to be so punished; the agency says Telegram’s digital coin is a security.


Goldman, Amazon may offer loans; banks plan to tighten underwriting


The bank would make small-business loans on the online retailer’s platform; Fed survey says banks worry about increasing delinquencies, especially in subprime.


Wells paying up to recruit brokers; Will JPM’s stock buybacks slow?


The bank is offering big bonuses to hire new financial advisors; recent share repurchases have raised the cost of future rebuys.


Fed votes to ease Volcker restriction; Truist reports a setback


Banks would be allowed to own stakes in venture capital funds; the combined BB&T-SunTrust isn’t realizing cost savings as fast as it projected.


Goldman’s investor day disappoints; Fed on hold


The bank raised its return-on-equity goals, based mostly on cost cuts and its core trading business; the Fed did raise the rate it pays on bank reserves.


U.K. overdraft plans draw scrutiny; Deutsche to delay pay raises


The country’s banks plan to raise overdraft rates to 40%, which has regulator watching; starting this year pay increases won’t be retroactive to Jan. 1.


Fed, OCC to propose easing Volcker rule; Visa's fintech interest


The regulators plan to drop the 3% limit on bank investments in venture capital funds; Visa invests in another fintech startup.