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JPMorgan CEO Jamie Dimon to reduce stake in bank

Dimon and his family plan to sell $141 million worth of shares in the New York City-based firm, marking the CEO’s first such stock sale since taking the helm of the bank almost two decades ago.

A look at Week 4 of the Sam Bankman-Fried trial

Bankman-Fried admitted that FTX didn't turn out how he expected: "A lot of people got hurt," he said. But he said he didn't defraud anyone.

PNC could cut more than 2,400 employees: report

The bank began a 4% headcount trim last week, Bloomberg reported. PNC will take a $150 million charge in the fourth quarter, but it expects personnel expenses to drop $325 million in 2024.

7 personnel moves that spotlight Truist’s reorganization

The bank’s CMO is out, its Foundry unit is shuttered, and a CIO has jumped to Wells Fargo, according to reports.

Goldman, JPMorgan, BofA to pay CFTC $53M over swap reporting errors

Goldman Sachs will pay $30 million, while JPMorgan Chase and Bank of America will pay $15 million and $8 million, respectively, in civil monetary penalties, the agency said.

Three Arrows Capital co-founder arrested in Singapore

Su Zhu founded crypto hedge fund 3AC with Kyle Davies in 2012. Its bankruptcy 10 years later contributed to the downfall of several crypto companies. Recently, a Singapore court called for jail time.

Top bank CEOs to testify Dec. 6 to Senate panel

Executive compensation may take center stage at the hearing. But the CEOs may also use the forum to criticize a capital proposal they say will hamper their ability to extend credit.

DWS to pay $25M to settle SEC’s ESG, AML probes

“DWS advertised that ESG was in its ‘DNA,’ but … its investment professionals failed to follow the ESG investment processes that it marketed,” Sanjay Wadhwa, the SEC’s deputy director of enforcement,...

SEC, FINRA each fine Goldman $6M for sending inaccurate data

Goldman Sachs provided inaccurate or incomplete ‘blue sheet’ data on no less than 163 million transactions over the last decade, the SEC said. The bank also misreported 97 million trades to FINRA.

Wells Fargo taps ex-diplomat, Morgan Stanley vet as vice chair

Thomas Nides, a former U.S. ambassador to Israel, will replace William Daley, who is retiring.

JPMorgan agrees to pay $75M to settle USVI’s Epstein case

The settlement, roughly a month before trial was set to start, includes $30 million for charities meant to address human trafficking and other sex crimes. The bank also reached a confidential deal...

Cannabis-friendly banks face pressure to differentiate

Banks have used risk-based pricing and non-interest-bearing accounts to justify the high cost and labor associated with banking the sector. But as more players enter the game, firms weigh rethinking...

Does ‘Get on board ... or get off’ mean the death of ‘soft skills Citi’?

CEO Jane Fraser's blunt comments earned her a comparison to Jamie Dimon. But those who see this as a 180 from the bank that championed flex work may have forgotten Citi's COVID vaccine stance. 

Citi launches token service for institutional clients

The service uses blockchain technology to convert clients’ deposits into digital tokens that can be used for instant cross-border payments 24/7, the bank said.

Santander retools its structure

The bank is consolidating its retail and commercial business into a new global unit and creating a global digital consumer banking division in a move meant to enhance profitability.