Investment bank Goldman Sachs, the world’s biggest cablemaker Prysmian, Nexans and eight other cable companies on Thursday lost their challenge against a 302 million euros ($353 million) EU cartel fine.
U.S. loan applications to refinance existing homes fell to their lowest in over 17-1/2 years even as most 30-year home borrowing costs fell last week, data from the Mortgage Bankers Association showed on Wednesday.
Citigroup Inc. is facing a unique dilemma among the four largest U.S. banks: it is light on deposits from individuals, an important funding source that costs little and tends to stick around.
JPMorgan Chase & Co. said that it is now offering a digital bank account for smartphones nationally after testing and refining the app in St. Louis since October.
The Consumer Financial Protection Bureau will not penalize Citigroup for overcharging credit card customers provided the bank returns $335 million to the 1.75 million borrower accounts that are due refunds.
Wells Fargo & Co. has been hit with a lawsuit by a Texas jewelry company accusing it of encouraging thousands of retailers nationwide to charge hidden fees to customers using financing programs created by the bank.
Morgan Stanley agreed to pay a $3.6 million fine on Friday after regulators found it failed to have systems in place to help it detect and prevent the misappropriation of client funds, the U.S. Securities and Exchange Commission said.
A former Morgan Stanley adviser was sentenced to 20 months in prison on Thursday after he admitted that he misused client funds to invest in and support a wind farm project that a friend had decided to start.
The 35 largest U.S. banks are poised to put more money toward dividends, share buybacks and business investments, after clearing the first stage of an annual regulatory stress test on Thursday, showing they have enough capital to withstand an extreme recession.
Wells Fargo & Co. introduced a new credit card rewards program on Monday, aiming to stand out against other benefit-heavy cards and gain more of a foothold in a market where it has lagged rivals.
Investors have reached $96 million in settlements with the final five defendants in private U.S. litigation accusing banks of rigging a key interest rate benchmark in the global derivatives market, boosting the total payout to more than $500 million.
Dr. Atul Gawande, a surgeon who was named this week to head the company being formed by Amazon, Berkshire Hathaway and JPMorgan Chase to trim employee health care costs, on Thursday cited surgery as the single biggest U.S. health care cost and said there are ways to both cut costs and improve patient care.
Bank of America Corp.’s Merrill Lynch unit admitted to misleading brokerage customers about which firms processed their trades and agreed to pay a $42 million fine under a settlement with the U.S. Securities and Exchange Commission announced on Tuesday.
A proposal to simplify a rule banning banks from proprietary trading, rather than making life easier for Wall Street, could ensnare billions of dollars’ worth of assets not currently caught by the regulation.
The corporate tax cut passed by U.S. President Donald Trump and fellow Republicans that was in part designed to help dissuade U.S. companies from moving profits overseas may instead make the practice a lot more rewarding.
Wells Fargo & Co. said on Friday a district court in California approved a $142 million class-action settlement to compensate customers who were affected by a sales scandal related to the opening of phony bank accounts.
A Mexican real estate developer has filed a $1.2 billion lawsuit accusing JPMorgan Chase & Co. of fraudulently inducing it to transfer properties based on a false promise it would sell them.
Bank of America Corp.’s co-head of consumer and business banking said on Tuesday he expects the consumer banking unit’s efficiency ratio to remain flat or improve further as it cuts more costs tied to moving physical checks and cash.
With the Federal Reserve virtually guaranteed to raise interest rates this week, investors are focused on how the U.S. central bank characterizes its monetary policy as borrowing costs return to more normal levels amid an ongoing economic expansion.
At its Silicon Valley headquarters, network gear maker Cisco Systems Inc. is going to unusual lengths to take control of the relentless increase in its U.S. health care costs.