The bank elevated three senior executives who could be possible successors to CEO Sergio Ermotti; the move to a new rate benchmark won’t trigger a “tax event.”
Politics not considered, a spokesman said in response to Dudley’s call for the Fed to stop enabling trade war; the agency lifts a two-year hiring freeze.
An economic downturn is likely to force industry consolidation; the legit firms only offer borrowers things they can get for free, while others are scams.
While bank stocks flounder, their bonds are seen as a haven against a possible recession; the senator asks bank about overdraft fees on closed accounts.
The FDIC and the OCC relax the rule restricting proprietary trading; home buyers with bad credit, lots of debt, or employment issues are again getting loans.
The power couple wants to help turn Acorns Grow from a niche app into a megabank; with many floating-rate loans, regionals’ profits drop as yields slip.
