banks
Morgan Stanley set to slash 2,000 jobs in move to improve efficiency
The layoffs represent up to 3% of the company's workforce, excluding financial advisers.
Trump nominates Fed Governor Michelle Bowman to be central bank's top cop: 'Economy has been mismanaged'
Her nomination was quickly met with praise from the banking industry and congressional Republicans, who touted her efforts to resist tougher industry rules.
JPMorgan credits this AI tool for boosting software engineers’ efficiency by up to 20%
The bank already has about 450 potential cases for which it could use AI, and CEO Jamie Dimon expects those potential applications to surge to 1,000 by next year.
Former Barclays CEO admits he had sex with Jeffrey Epstein assistant
The former JPM executive gave evidence to London's Upper Tribunal as he appeals against a proposed financial services ban.
Bank of America axes 150 junior banker jobs after layoffs at Goldman Sachs, JPMorgan
The layoffs are part of an annual process to cut under-performers. However, deal volumes have also fallen below expectations in the first half of the year.
I was debanked by JPMorgan Chase — but fought back and won
We found that most debanking victims are conservative or religious. Now, Chase is becoming the first major US bank to announce it will end faith-based and political discrimination.
CFPB drops lawsuit against JPMorgan, BofA, Wells Fargo alleging fraud on Zelle
The CFPB has now dropped seven of the enforcement cases brought under former President Joe Biden, including one against Capital One.
Despised bank regulation agency just won’t die — despite Trump’s best efforts
The agency was created by lefty Sen. Elizabeth Warren and former President Barack Obama in the aftermath of the 2008 financial crisis as a consumer protection regulator.
CFPB drops slew of cases including against Capital One for allegedly cheating customers
The dismissals occurred while Trump's nominee to head the CFPB, Jonathan McKernan, was on Capitol Hill testifying before the Senate in a confirmation hearing.
Goldman Sachs exec gets board seat — a move likely making him bank's next CEO
"It does appear that firmer succession planning is underway," said Stephen Biggar, a banking analyst at Argus Research.
JPMorgan exec calls for 'more hustle' after Jamie Dimon slams staffers upset with office mandate
"We need more hustle and scrappiness," Rohan Amin, chief product officer of the Chase consumer business, wrote in a memo.
Why banks are flying gold bars on commercial flights from London to NYC
President Donald Trump's tariff plans have prompted some of the largest banks in the US and Britain to fly gold bars from London to New York City on commercial flights.
Goldman boss David Solomon’s job security hits all-time high — thanks to Trump
According to one former Goldman managing director, "Solly is fine; just look at the stock price. No one cares anymore that he could be a jerk.”
Citigroup axes DEI goals, makes major change on job interviews
"It is important to note that we're living in an environment where things are changing quickly," CEO Fraser wrote.
Wall Street banks scrub DEI language from websites in latest retreat from corporate wokeness: report
Morgan Stanley, JPMorgan Chase and Citigroup have been erasing the speech from their websites, according to a report.
Crypto kings cheer Trump's 'debanking' crackdown
Top crypto executives said they can already see a thaw in their relationships with banks, which are openly seeking business from the once shunned industry.
JPMorgan reportedly starts first round of layoffs with more cuts later this year
The largest US bank reported a record annual profit as its dealmakers and traders reaped a windfall from rebounding markets in the fourth quarter.
Goldman Sachs ends IPO diversity policy as Trump cracks down on DEI
It marks a major U-turn for Goldman amid a White House-led crackdown on what the Trump administration believes to be discriminatory hiring policies in the private sector.
Federal judge blocks Elon Musk’s DOGE from accessing sensitive Treasury Department records
The block stops Elon Musk’s Department of Government Efficiency from accessing Treasury Department records that contain information like Social Security and bank account numbers for millions of Americans.
This fledgling bank looking to profit as Wall Street giants push to 'debank' conservatives
Officials there tell On The Money that they’ve seen a significant upswing in business following Trump’s broadside where he called out JPMorgan Chase CEO Jamie Dimon and Bank of America’s...