Goldman Sachs Group is reportedly adding staff to its compliance department amid increased scrutiny of the industry from the Federal Reserve. The Wall Street firm plans to enlist several hundred new staffers to address concerns raised by banking supervisors, Bloomberg reported Thursday (Aug. 17). Goldman Sachs CEO David Solomon has...
The top brass of the country’s seven biggest financial institutions faced lawmakers in a second meeting on Capitol Hill about accountability, consumer protection, and compliance, with private peer-to-peer payment network Zelle emerging as a hot-button issue. Zelle has been in the hot seat over authorized...
Two of the nation’s largest automakers are paying suppliers upfront to help small cash-strapped suppliers survive shutdowns caused by COVID-19. General Motors Co. and Ford Motor Co. have introduced programs to fast-track payments that typically take up to 60 days to be paid, Reuters reported....
Even with mobile apps and banking robots, bank tellers are not going away: While conventional wisdom suggests that the job may be in decline, anecdotal evidence suggests otherwise, Bloomberg reported. Some of the largest banks in the U.S. such as Fifth Third Bancorp, PNC Financial...
October 11, 2023
The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan Chase & Co., Citigroup, Wells Fargo and Bank of America are expected to report a combined $5.3 billion in net charge-offs for the third quarter, more than double the figure […]
August 17, 2023
Goldman Sachs Group is reportedly adding staff to its compliance department amid increased scrutiny of the industry from the Federal Reserve. The Wall Street firm plans to enlist several hundred new...
September 23, 2022
The top brass of the country’s seven biggest financial institutions faced lawmakers in a second meeting on Capitol Hill about accountability, consumer protection, and compliance, with private peer-to-peer payment network...
May 28, 2020
Two of the nation’s largest automakers are paying suppliers upfront to help small cash-strapped suppliers survive shutdowns caused by COVID-19. General Motors Co. and Ford Motor Co. have introduced programs...
