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Citigroup may retain a minority stake in its consumer finance business rather than sell the entire franchise as initially planned, according to a news report.
Financial stocks were sliding, with regional names getting hit particularly hard.
Wells Fargo will hire more than 1,000 tellers and bankers by mid-May as it expands operations in the Mid-Atlantic area.
Banks are moving ahead with new fees on once-free checking accounts, but the industry at large may only be able to recoup 35% to 40% of an estimated $25 billion in fees it once collected from debit and credit card use.
Federal and state authorities have banded together to give large banks a detailed proposal for how to handle loan servicing and foreclosures, though experts expect another 3 million Americans to lose their homes before the housing market recovers.
Big U.S. lenders are battling one another for affluent, wealthy and super-rich clientele as financial reform measures have battered other income streams.
If sovereign financiers from the Middle East try to exit their investments in the U.S. financial sector any time soon, it won't be because of chaos in the streets of Cairo and Tripoli.
AIG has hired Jeffrey Farber, a finance executive from Gamco Investors and former Bear Stearns controller, to serve as deputy chief financial officer.
Citigroup appears to have sparked a bidding war by putting its U.S. consumer lending business on the chopping block.
Investors have good reason to be worried about the federal deficit but should also be wary of the stock market's rapid rise, David Carroll, senior executive vice president and head of Wells Fargo's wealth, brokerage and retirement division, tells TheStreet.