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Morning Scan: BofA Profits Soar; How to Split Bank Settlements

07/15/15

Breaking News This Morning ...

B of A Earnings: Bank of America more than doubled its second-quarter profits to $5.32 billion, up from $2.29 billion a year ago. What a difference the lack of a costly mortgage settlement makes! The Wall Street Journal has a handy list of other items to look out for in the bank's report. Receiving Wide Coverage ... ...

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Morning Scan: Clinton on Wall Street; Fed vs.Congress

07/14/15

Breaking News This Morning ... 2Q Kickoff: Ringing in the second-quarter earnings season this morning are Wells Fargo and JPMorgan Chase. Wells Fargo's second-quarter earning were essentially unchanged from a year ago, while JPMorgan profits rose 5% thanks to cost-cutting measures. Receiving Wide Coverage ... Clinton's Financial Vision: The economic policies aired by presidential candidate Hillary Clinton in a Monday speech position her as left of centerÂ--but not so far over as other contenders gunning for the DemocraticÂ...

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Morning Scan: U.K.'s 'London Whale' Hunt Off; U.S. Data Breach Tally

07/10/15

Receiving Wide Coverage...

Calling Off the 'Whale' Hunt: At least in the U.K., the London Whale is off the hook. The U.K. Financial Conduct Authority said it will drop its investigation of Bruno Iksil, the Frenchman at the center of the fiasco in which JPMorgan Chase lost $6.2 billion on bad bets on derivatives. The Authority's internal panel of independent experts decided that it didn't have enough evidence to pursue a strong case. So, the Authority...

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Women in Banking: Pelosi vs. Warren; Erdoes: Teach Kids Value Investing

07/09/15

Pelosi is not amused by some of Warren's rhetoric, Warren continues her battle against Wall Street and the SEC's White, and JPMorgan's Erdoes talks about her childhood lessons in value investing, in our latest roundup of the news about women in banking.

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Morning Scan: Barclays' McFarlane Plans Long Ride; Fifth Third's New Chief

07/09/15

Receiving Wide Coverage. ...

More on Jenkins' Ouster: The Journal has an article, based on interviews with anonymice, that paints a very negative portrait of ex-Barclays CEO Antony Jenkins. For one, Jenkins liked to tell people he had a "warm working relationship" with Barclays Chairman John McFarlane, who this week fired Jenkins and named himself the interim CEO. McFarlane was apparently miffed that it was taking so long for Jenkins to fix Barclays' myriad problems and...

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Morning Scan: Santander's Enforcement Action; Debating Encryption

07/08/15

Receiving Wide Coverage ...

Santander Feels the Heat: The Federal Reserve has issued a sweeping enforcement action against Banco Santander's U.S. holding company, ordering it to improveÂ--well, a whole lot of stuff. Regulators identified Santander's capital management, corporate governance, and ability to meet daily funding needs as areas in need of remediation, along with risk management at its consumer lending unit. No fine is attached to the action yet, but the Fed could add one later....

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Morning Scan: New Details on Banks' Living Wills; Do Clawbacks Get Results?

07/07/15

Receiving Wide Coverage ...

Envisioning the End: Twelve big banks have published details of their revised living wills, which attempt to demonstrate to regulators that they could fail without throwing the financial system into a tailspin. For banks, the months-long review period of their updated proposals may be a nail-biter: regulators already deemed most plans unrealistic last year. If the Federal Reserve and Federal Deposit Insurance Corp. aren't convinced by their new strategies, banks could face...

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Morning Scan: Greek Vote Fallout; Do Big Fines Breed Better Bank Cultures?

07/06/15

Receiving Wide Coverage ...

What's Next for Greece: One day after Greeks voted overwhelmingly to reject the bailout terms offered by European creditors, the country's future is up the air. One thing that's for sure: controversial Greek finance minister Yanis Varoufakis is stepping down at the behest of prime minister Alexis Tsipras in an effort to smooth upcoming negotiations with European creditors. Varoufakis has no regrets about the hardball tactics that aggravated eurozone officials: "I shall...

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Women in Banking: JPMorgan's Powerful Duo; Blythe Masters' Blockchain Bet

07/02/15

The most powerful women in New York include two from JPMorgan, one from Goldman Sachs, and none (thatÂ's right, none) from Citigroup. Plus, JPMorgan alum Blythe Masters is making waves, as is actress Meryl Streep.

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Morning Scan: SEC Votes for Clawbacks; Silk Road Agent Dreamed of Silver Screen

07/02/15

Editor's note: Morning Scan will not publish on Friday, July 3 in observance of the Independence Day holiday. We'll be back on Monday, July 6. Receiving Wide Coverage ...

Better Check the Math: Executives may soon have more skin in the game when it comes to accurate financial reporting. The Securities and Exchange Commission voted 3-2 to back a new plan that would require public companies to rescind executive officers' bonuses if accounting errors are discovered ...

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