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Emily Flitter
Posts
JPMorgan’s Profit Shrinks, but Chief Says U.S. Customers Are ‘Healthy’
The bank earned $9.7 billion in the third quarter, down from last year. It also added to reserves against loan losses and took a hit…
Banks Accuse Consumer Regulator of Abuse of Power
Several banking trade groups have sued the Consumer Financial Protection Bureau, claiming it has exceeded its authority with anti-discrimination enforcement.
There’s a New Cop on the Banking Beat: Chief Climate Risk Officer
The Office of the Comptroller of the Currency, which oversees big banks, hired a chemical engineer to review the risks climate change poses to banks.
Citigroup’s Consumer Bank in Russia Was for Sale. Now It’s Just Closing.
The bank will wind down its retail and local commercial banking services in the country by closing branches and laying off workers.
Anshu Jain, Who Took Deutsche Bank to Wall Street, Dies at 59
As co-chief executive, he helped remake the German company into an investment banking power but stepped down after the complex activities he pushed caused regulatory…
Wells Fargo Revives Policy That Led to Fake Job Interviews, With Tweaks
The bank will reinstate a requirement to assemble a “diverse slate” of job candidates while adding flexibility, according to an internal memo.
Berkshire Hathaway-Owned Lender Pays $20 Million in Redlining Case
Trident Mortgage Company discouraged minorities in Philadelphia from applying for home loans, the authorities say.
How Wall Street Escaped the Crypto Meltdown
As cryptocurrency prices plunged and funds failed, strict rules on risky assets helped Wall Street companies sidestep the worst. Retail investors weren’t as lucky.
Fed Stress Tests Show Banks Can Withstand Severe Recession
The annual tests hold new significance as inflation persists and signs of a coming downturn continue to accumulate.
Nigeria Sought a $1.7 Billion Refund From JPMorgan. A London Judge Said No.
Lawyers for the country’s government tried to convince a court that the bank had violated its duty to protect Nigerian funds from fraud.