JPMorgan Chase is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter. ... Read full article
Lawmakers should go further than their recent criticism of the Financial Accounting Standards Board's loan-loss rule and just hand over its duties to the Securities and Exchange Commission. ... Read full article
The move is the first time the bank has provided services to digital currency players; the Washington Post and four other heavy hitters want details on PPP and small business disaster loan programs. ... Read full article
The bank agreed to pay $35 million to settle SEC charges it recommended high-risk ETFs to some customers; coronavirus fears continue to batter financial shares. ... Read full article
The ten-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership. ... Read full article
A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions. ... Read full article
Outages or disruptions of GPS signals — sometimes malicious, sometimes not — could quickly knock out computers, ATMs and card networks. ... Read full article
The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal. ... Read full article
Several former high-level Wells Fargo executives are under criminal investigation in connection with the bank's fake-account scandal and could be indicted as soon as this month. ... Read full article
Regulators' oversight of the industry's switch to a new interest rate benchmark is expected to intensify as a key deadline approaches. ... Read full article
George Cook could have joined Somerset Trust, where his father is CEO. Instead, he founded Honeycomb Credit, a crowdfunding platform that competes with banks. ... Read full article
Many in the space are seeking the creation of a "flexible" supervisory regime that relies on existing authorities and a hands-off approach from state agencies, but such a plan faces an uphill battle. ... Read full article
The Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Commodity Futures Trading Commission, and the Securities and Exchange Commision announced Thursday they had joined the Global Financial Innovation Network. ... Read full article
The reforms will result in significant changes to the proprietary trading ban first proposed by former Federal Reserve Chairman Paul Volcker and mandated in the Dodd-Frank Act. ... Read full article
The revised trading rule is seen as a credit negative for banking industry. ... Read full article
Wall Street watchdogs are poised to take a major step toward overhauling limits on banks’ ability to trade with their own funds, according to people familiar with the effort. ... Read full article
Ambiguity about which laws apply to blockchain technology has prevented certain companies from doing business in the United States. ... Read full article
In a registration statement filed with the SEC, the company revealed new details about its financial performance and its growth plans. ... Read full article
Bank regulators finalized a proposal to exclude small institutions from the proprietary trading ban, as required by last year’s reg relief bill. ... Read full article
Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked. ... Read full article
