With Blankfein retiring, the JPM chief will be the last crisis-era big bank CEO still in charge; earnings and big payouts are boosting bank equity prices.
The charge calls into question the speed of the turnaround under CEO Brian Duperreault; the payout will be the Scottish bank’s first since the financial crisis.
The $2.1 billion settlement is likely to be the last of the big toxic mortgage cases from the financial crisis; the move pressures rivals to lower prices.
Stock options offered employees during the financial crisis are now worth $3 billion; the JPM CEO says he talked with Jeff Bezos about a job two decades ago.
The retailer is ending its nearly two-decade credit card relationship with Synchrony Financial; Mulvaney says the bureau will first negotiate, not sue, to settle disputes.
