big banks

Goldman: CFPB Late Fee Rules Will Hurt Citigroup the Most
Goldman: CFPB Late Fee Rules Will Hurt Citigroup the Most
March 06, 2024  |  CFPB

What will the loss of credit card late fees mean for America’s biggest banks? A report Tuesday (March 5) by Goldman Sachs Equity Research examines...

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Big Banks See Overdraft Fee Revenues Fall 25%
Big Banks See Overdraft Fee Revenues Fall 25%
February 11, 2024  |  Banking

America’s three biggest consumer banks saw their overdraft fee revenues fall 25% in 2023. J.P. Morgan Chase, Bank of America and Wells Fargo collected $2.2 billion in total in those...

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Banks Slash 60K Jobs as Dealmaking and IPOs Decline
Banks Slash 60K Jobs as Dealmaking and IPOs Decline
December 26, 2023  |  Banking

The world’s biggest banks reportedly slashed more than 60,000 jobs in 2023. It was a year in which investment banks suffered their second year in a...

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Goldman Sachs Looks to Double Size of Private Credit Unit
Goldman Sachs Looks to Double Size of Private Credit Unit
December 11, 2023  |  Banking

Goldman Sachs is reportedly aiming to double the size of its $110 billion private credit business. That shift involves reshuffling senior executives in the unit, Marc Nachmann,...

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Regional Lenders Are Getting Smaller to Stay Afloat
Regional Lenders Are Getting Smaller to Stay Afloat
October 23, 2023  |  Banking

America’s regional banks are reportedly hoping to get healthier by getting smaller. As The Wall Street Journal (WSJ) reported Monday (Oct. 23), these lenders are scaling back...

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Bank Earnings Continue to Demonstrate Digital Shift Also Includes Branches 
Bank Earnings Continue to Demonstrate Digital Shift Also Includes Branches 
October 17, 2023  |  Earnings

Earnings season is less than a week old. But with some of the largest names in the industry having already reported, the digital shift and...

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Citi Plans ‘Uncomfortable’ Cuts Amid Sweeping Reorganization
Citi Plans ‘Uncomfortable’ Cuts Amid Sweeping Reorganization
September 13, 2023  |  Economy

Citi says it is embarking on a major restructuring of its organization that eliminates a number of management layers. The new structure, announced Wednesday (Sept. 13), elevates the...

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Deposits, Consumers and Digital Channels in Focus as Bank Earnings Get Underway
Deposits, Consumers and Digital Channels in Focus as Bank Earnings Get Underway
July 12, 2023  |  Earnings

It’s the middle of July, almost. And thus: Earnings season begins in earnest. As usual, a slew of big banks will kick things off, beginning...

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CFPB Head Says Large Banks Should Pay for Insuring ‘Uninsured’ Depositors
CFPB Head Says Large Banks Should Pay for Insuring ‘Uninsured’ Depositors
May 11, 2023  |  Banking

The head of the Consumer Financial Protection Bureau (CFPB) says big banks should pay for insuring “uninsured” depositors. CFPB Director Rohit Chopra, who is a member of the Federal...

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