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October 18, 2021

banks

Wells Fargo profit jumps nearly 60% in the quarter, revenue tops expectations

CNBC
by CNBC058
CNBC – For more and to sign up click here Wells Fargo signage on May 5th, 2021 in New York City. Bill Tompkins | Michael Ochs Archives | Getty Images Wells Fargo on Thursday posted a jump in profit in the third quarter, boosted by a release of its credit......
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Morgan Stanley beats estimates on record investment banking and asset management results

CNBC
by CNBC062
CNBC – For more and to sign up click here James Gorman, chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 24, 2019. Simon Dawson | Bloomberg | Getty Images Morgan Stanley......
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Citigroup is set to report third-quarter earnings — here’s what the Street expects

CNBC
by CNBC043
CNBC – For more and to sign up click here A Citibank sign in front of one of the company’s offices in California. Justin Sullivan | Getty Images Citigroup is set to report its third-quarter earnings before the bell on Thursday. Wall Street is anticipating earnings per share of $1.65......
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Bank of America tops estimates on reserve release, strong advisory and asset management results

CNBC
by CNBC058
CNBC – For more and to sign up click here Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during “Barron’s Roundtable” at Fox Business Network Studios on January 09, 2020 in New York City. John Lamparski | Getty Images   Here are the numbers: Earnings: 85 cents......
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JPMorgan Chase third-quarter earnings are out – Here are the numbers

CNBC
by CNBC040
CNBC – For more and to sign up click here Jamie Dimon, chief executive officer of JPMorgan Chase & Co., speaks during the Bloomberg Global Business Forum in New York, U.S., on Wednesday, Sept. 25, 2019. Tiffany Hagler-Geard | Bloomberg | Getty Images JPMorgan Chase reported third-quarter earnings before the......
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EXCLUSIVE U.S. SEC opens inquiry into Wall Street banks’ staff communications -sources

Reuters
by Reuters00
The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which you can provide using the feedback tab on the right of the page. WASHINGTON,......
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Biden’s Proposal to Empower I.R.S. Rattles Banks and Their Customers

New York Times
by New York Times035
Jim Reuter, the chief executive of FirstBank near Denver, said concerns about the potential provisions have bubbled up frequently, including over a coffee he had with a small-business owner in early October. “Their upshot is, ‘I pay my taxes, so why would you be sending additional information to the I.R.S.?’”......
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JPMorgan’s Dimon says supply-chain hiccups will soon ease, points to `extraordinary’ consumer demand

CNBC
by CNBC0254
CNBC – For more and to sign up click here JP Morgan CEO Jamie Dimon gives a speech during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris. Michel Euler| AFP | Getty Images Global supply-chain hiccups caused by the coronavirus......
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Now that your student loan was forgiven, here’s what experts say you should do next

CNBC
by CNBC044
CNBC – For more and to sign up click here seksan Mongkhonkhamsao | Moment | Getty Images It’s a question millions of Americans would love the chance to ask: What should I do after my student loans are canceled? The Biden administration has already given more than 450,000 borrowers reason......
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Booming stock market and ‘credit euphoria’ will drive banks to better-than-expected profits, top analyst Mike Mayo predicts

CNBC
by CNBC016
CNBC – For more and to sign up click here Top analyst Mike Mayo believes Wall Street is underestimating financials ahead of earnings season. Mayo, who follows large-cap banks for Wells Fargo Securities, suggests investors haven’t fully acknowledged the benefits associated with the booming stock market — from merger to......
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Fed’s Brainard signals that climate change guidance may be coming for big banks.

@BreaknNews
by @BreaknNews00
Lael Brainard, a Federal Reserve governor, offered the clearest signal yet that America’s central bank is going to begin seriously assessing big banks’ exposure to climate-related financial risks. Ms. Brainard said the Fed is in the process of developing climate-related scenarios for use in bank’s safety checkups, which are often......
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Fed governor anticipates new guidance on climate change for big banks

CNBC
by CNBC093
CNBC – For more and to sign up click here Lael Brainard, governor of the U.S. Federal Reserve, speaks during the National Association of Business Economics (NABE) annual meeting in Arlington, Virginia, on Monday, Sept. 27, 2021. Al Drago | Bloomberg | Getty Images The U.S. Federal Reserve should advance......
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US Bank launches bitcoin custody service as institutions race to cater to crypto demand

CNBC
by CNBC036
CNBC – For more and to sign up click here People wait in line outside of a mobile US Bank location on July 8, 2020 in Minneapolis, Minnesota. Stephen Maturen | Getty Images The race to cater to institutional investors who want to wager on cryptocurrency is heating up. U.S.......
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Jamie Dimon says bitcoin is ‘a little bit of fool’s gold’

CNBC
by CNBC044
CNBC – For more and to sign up click here Jamie Dimon, JPMorgan Chase chairman and CEO, remains a skeptic of bitcoin, the largest cryptocurrency by market value. “It’s got no intrinsic value. And regulators are going to regulate the h— out of it,” Dimon recently told Axios CEO Jim......
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UK app-only bank Monzo withdraws U.S. banking license application

CNBC
by CNBC0114
CNBC – For more and to sign up click here A Monzo debit card being used at a payment terminal. Monzo LONDON — British financial technology firm Monzo has withdrawn its application for a U.S. banking license following discussions with regulators at the Office of the Comptroller of the Currency.......
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Banks, chipmakers drag European stocks lower on growth worries

Reuters
by Reuters00
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 29, 2021. REUTERS/Staff Chip, luxury and banking stocks drag STOXX 600 holds near 2-month lows Nordea Bank, BT the biggest fallers Oct 4 (Reuters) – European stocks struggled on Monday after their worst......
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Google’s pivot away from bank accounts shows why finance is a tough industry for tech giants

CNBC
by CNBC0383
CNBC – For more and to sign up click here The logo for Google Pay displayed on a phone screen. Jakub Porzycki | NurPhoto via Getty Images At least one tech giant has decided it’s better to serve banks rather than taking them head on. Google is shuttering its bank......
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Google abandons plans to offer bank accounts to users

CNBC
by CNBC013
CNBC – For more and to sign up click here Google Pay Omar Marques | LightRocket | Getty Images Google is scrapping its plans to offer banking services directly to users. The shift comes nearly two years after the company first announced its banking plans and several months after a......
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CEOs are at their wits’ end — they don’t know how to get their employees back in

CNBC
by CNBC024
CNBC – For more and to sign up click here CEOs are at their wits’ end to figure out how to get their employees back into the office as high levels of Covid infections persist 18 months into the pandemic. That’s the sentiment shared by CNBC’s David Faber and Jim......
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