Timothy Sloan says Federal Reserve sanctions won’t affect the bank’s stress test submission; not everyone believes the mobile-payment system is worth $100 billion.:
Budget proposal would slice agency’s spending while limiting its enforcement activities; the bank could lose its U.K. banking license if it fails to refute fraud charges.
Analysts are wondering what the big Japanese technology fund plans to do with its proposed stake in Swiss Re; the insurer takes a onetime $6.7 billion loss due to tax reform.
S&P lowers the bank’s rating to A-minus following Federal Reserve sanctions on growth; 13 are arrested after alleging defrauding banks of $530 million over seven years.
The SEC and CFTC ask Congress to expand federal oversight of cryptocurrency trading; the recent wild swings in financial markets may boost first quarter trading revenue.
Shares drop nearly twice as much as other bank stocks and the broader market; agency denies it’s looking to end the investigation into last year’s data breach.
The bank’s assets are capped at their current level of $1.95 trillion; Citi, JPM and B of A will no longer allow bitcoin purchases on their credit cards.
Banks will have to show they can withstand “severely adverse” conditions; the office will be under the direct control of acting director Mick Mulvaney.
