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Wall Street Journal

Federal prosecutors and New York's top banking cop have contacted at least 10 banks for questioning on whether they should have alerted authorities about suspicious money transfers involving FIFA, soccer's world governing body. The U.S. Attorney's office in Brooklyn and has contacted Delta National Bank & Trust in New York, HSBC and Standard Chartered, unnamed sources said. At least three other "major" international banks have also been contacted by the U.S. Attorney but...

Receiving Wide Coverage ...

B of A Deck Shuffling: Brian Moynihan is playing musical chairs again. Bank of America's chief executive made a number of personnel moves late Wednesday, including the dismissal, or resignation, of Chief Financial Officer Bruce Thompson; details of all the moves are outlined in American Banker. The Wall Street Journal and the New York Times both speculate the executive shuffling was a response to regulators chastising the firm's leadership for mistakes on...

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Banks' Capital Restraints: Get smaller, or else. That's the message from the Fed to big banks after the finalization of rules on Monday. The Fed approved a graduated surcharge for globally risky banks and it established capital requirements for GE Capital. Fed Chair Janet Yellen said the capital surcharge rule is designed to reduce the potential for large institutions to fail, or force them to reduce their risk profile. In effect, it...

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Marketplace Lenders in Treasury's Sights: Greater regulation may be coming to the buzz-filled world of marketplace lending. The Treasury Department has begun a study of the industry's risks and advantages, which could lay the groundwork for rules down the line. The New York Times says Treasury's announcement of the study strikes a "largely supportive tone," expressing interest in the industry's potential to expand credit access for underserved demographics. But the Treasury's desire...

Breaking News This Morning ...

Earnings Galore: Citigroup, like its rival Bank of America, reported a huge increase in second-quarter profit, compared to a year earlier, thanks in large part to the lack of a costly legal settlement related to mortgages. Citi's net income rose to $4.85 billion from $181 million a year earlier. Meanwhile, BB&T's second-quarter net income increased to $454 million from $424 million a year earlier. However, merger-related charges and a loss from...