Wells Fargo will Buy Back $24.5 Billion in Stock after Passing Fed Test
Wells Fargo Passes Fed Test: Wells Fargo (NYSE:WFC) has announced that it will buy back nearly $24.5 billion of stock after the bank passed the Federal Reserves stress tests.
The results of the …
Spanish Bank CEO Says Blockchain has ‘Huge Promise’ for Financial Industry
Blockchain could have a “huge promise” for the banking and financial industry, according to the CEO of the Spanish bank BBVA (NYSE:BBVA), Carlos Torres Vila.
The future of blockchain could influence many different …
Customers of BMO and Simplii Financial Fall Victim to Fraudsters
On Sunday and Monday, customers of both BMO and Simplii Financial were alerted by an uneasy notification. Specifically, Bank of Montreal and Simplii Financial, which is CIBC’s direct banking line, announced on Sunday and Monday …
US Tax Reforms Impacting Businesses’ Foreign Earnings
The Goldman Sachs Group Inc. (NYSE:GS) has said that it will be having $5 billion profit cut thanks to Trump’s new tax reforms for businesses. The company says that this is due to a new …
New York Fed Bank President William Dudley to Announce Retirement Next Week
Late Saturday night – 10:58 p.m. EDT to be exact – CNBC reported that William Dudley, the New York Federal Reserve Bank President, will be announcing his retirement as soon as next week.
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Bank of America Fortifies Online Banking Security With Help From Intel
Bank of America Corp (NYSE:$BAC) will begin adopting an additional layer of authentication for its online banking services. This comes amid a wave of high-profile data breaches at several U.S. companies.
In an …
Citizens Financial Reports Optimistic Q3 Earnings
Citizens Financial Group (NYSE:$CFG) delivered a positive earnings surprise of 6.3% in 2Q17. Adjusted earnings per share of 68 cents topped the Zacks Consensus Estimate of 64 cents. The figure excludes the impact of after-tax …
JPMorgan Profit Surpasses Street Estimates, But Trading Revenue Plunges
On Thursday, October 12, JPMorgan Chase (NYSE:$JPM) posted Q3 earnings well above Wall Street estimates. However, share prices still fell as investors focused on a massive drop in trading revenue.
Let’s take a look … Read
Everything to Expect From JP Morgan & Chase Co.’s 3Q17 Earnings Report Tomorrow
Over the past month, financial stocks have gone on a considerable run. This is driven by a combination of factors – but predominantly optimism that President Trump’s tax reform proposal, aimed at boosting American economic …
Sen. Warren Demands Wells Fargo CEO to be Removed From Position
On Tuesday, October 3, Sen. Elizabeth Warren demanded that Timothy Sloan, CEO of Wells Fargo (NYSE:$WFC), be removed from his position. Why? Warren argued that Sloan was part of a culture that pushed Wells Fargo …