Items Tagged with 'big banks'

ARTICLES

  • Wells Fargo CEO Tim Sloan lands $2 million bonus day after congressional beatdown

    Some members of Congress called for his firing, instead he got a raise
    Looks like Tim Sloan's week is looking up. On Tuesday, the Wells Fargo CEO received a brutal lashing from Congress during a four-hour hearing before the House Financial Services Committee, during which he was raked over the coals for the bank's numerous misdeeds. But just a day later, the board of directors gave Sloan a 5% raise, increasing his total pay to a whopping $18.4 million, which includes a $2 million bonus.
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  • Is Wells Fargo too big to manage? Congress grills CEO Tim Sloan

    House committee roasts Sloan over progress on bank's overhaul in hostile 4-hour hearing
    Wells Fargo CEO Tim Sloan appeared before the House Financial Services Committee on Tuesday to address questions regarding the bank's overhaul after a series of scandals rocked the big bank in recent years. In a tense four-hour hearing, Sloan was grilled about the steps he's taken during his two-year tenure as CEO to overhaul the bank, with the big question of the day being whether or not Wells Fargo is simply too big to manage.
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  • S&P banks index sees best day since March

    Investors anticipate positive bank earnings
    The Dow Jones and S&P 500 each posted significant gains on Monday as investors prepare for the big banks to report their second quarter earnings later this week. The S&P banks index increased by 2.7%, its greatest daily increase since March 26, 2018. But this may not mean good numbers for mortgage banking revenues.
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  • Fed looks to eliminate pass/fail for bank stress tests

    To take volatility out of financial markets
    The Federal Reserve is looking to take volatility out of the financial markets by changing the rules of stress tests on big banks, and eliminating the pass or fail grades. The Fed would replace the pass or fail grade with simply giving banks a capital ratio that the lender must meet during the following year.
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  • Expert: Big banks will pass stress tests this year

    To receive approval to increase shareholder dividends
    As the Federal Reserve prepares to announce the results of the annual stress tests for banks in June, one expert is already predicting banks will pass. While the test might be harsher, and potential losses may increase, this expert says banks will still pass, and be allowed to raise their shareholder dividends.
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  • Banks disappointed in proposed stress test changes

    Gives relief to smaller lenders
    Tuesday night, the Federal Reserve announced its proposed changes to its annual stress test procedures – and they’re not going to benefit the big banks. But smaller lenders, or those not considered “systemically important” would see a significant decrease in their capital requirements.
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  • Big bank influence grows: The Clearing House Association merging with Financial Services Roundtable

    Merger comes on heels of FSR membership shakeup
    Seeking to increase the influence of the nation’s largest banks on the legislative process, two of the nation’s largest banking trading groups are joining forces. The Financial Services Roundtable and The Clearing House Association are merging, the two groups announced Tuesday.
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  • Big banks release their hold on mortgage servicing industry

    But regional bank servicers on the rise
    Many of the big banks are among the nation’s top mortgage servicers by portfolio volume, however they are slowly beginning to release their hold on the market. Ongoing regulatory scrutiny is continuously pushing banks further away from servicing residential mortgage loans even as nonbanks continue to grow stronger.
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  • From HW Magazine

    Weed Wager: How banks are finding an opening to serve marijuana businesses

    With recent changes, banks are now working with more marijuana-related businesses than ever before
    [Subscribers Only] With recent changes, banks are finding an opening to serve lucrative marijuana businesses. Nationally, 29 states have now legalized marijuana in some form, either recreationally, medicinally, or both, generating billions of dollars in sales. These billions of dollars mean there is much that banks could make from this booming industry, but federal laws and guidance have made things complicated for financial institutions who want in.
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  • [Video] Bank of America CEO: Don't break up the big banks

    Reacts to recent comments from President Donald Trump
    The Trump Administration recently stated that they are actively considering splitting giant banks. So, coming from the leader of one of the biggest banks, Bank of America CEO Brian Moynihan explained why this idea would harm the financial system.
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