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Regulators have warned against the creeping use of technology in traditionally human-intensive decisions like whether to make a loan, and at what interest rate. But a new study shows that the online platform LendingClub might be just as good at lending as the largest banks.
Despite buoyant stock markets in the first quarter and a rally in Treasury bonds, the biggest U.S. banks probably suffered steep declines in trading and investment-banking revenue during the period, partly due to the U.S. government's shutdown, according to Goldman Sachs analysts.
Bank of America today announced a new $5 billion affordable homeownership initiative for low- to moderate-income and multicultural homebuyers and communities across the country.
There's still gains to find in financials.
The retirement of Wells Fargo chief executive Tim Sloan could help give the scandal-plagued bank a clean slate after sanctions from regulators, attacks from lawmakers and growing shareholder dismay.
The Bank of America Charitable Foundation today announced it will make the $1 million capstone grant to Museum Lab at Children's Museum of Pittsburgh, completing the organization's $18 million capital campaign.
Randal Quarles, the Federal Reserve's vice chair for supervision, says regulators need to be vigilant about new risks from lenders that operate outside of the strictest banking-industry rules - as well as from the increasing push by technology companies into lending and asset management.
DepositAccounts.com, which tracks the savings industry, says in a new report that banks are increasing early withdrawal penalties on certificates of deposit, making it harder for savers to exit and reinvest in higher-paying products as interest rates rise.
According to the New York State Comptroller's office, the average bonus paid to securities-industry employees in New York City declined by 17% to $153,700. But Wall Street bankers and traders still make roughly five times more, on average, than workers in other industries.
The digital version of Apple's new credit card with Goldman Sachs and Mastercard will give customers 2% cash back on all purchases made using Apple Pay technology. That could be a tough offer to resist, since the average cash-rewards card pays roughly 1%.
- Q4 share repurchases increased 62.8% year-over-year to a record $223.0 billion
Does Berkshire Hathaway still offer value for investors?
With macroeconomic worries lingering, this is a good time to favor quality in the financial services sector. JPMorgan is a worthy contender.
I think sometimes the best way to parse the temperament is to go over the most obviously 'wrong' moves and address why they might not be wrong at all.
U.S. banks are quietly making plans to protect themselves from a slowing domestic economy, potentially giving investors the chance to profit from some of the very bonds that many bank bosses resisted issuing when regulators overhauled the sector in the wake of the global financial crisis.
Hong Kong's securities regulator has fined Morgan Stanley, Merrill Lynch, UBS and Standard Chartered for lack of fact checking and due diligence in preparing stock offerings for now-liquidated China Forestry and still-suspended Tianhe Chemicals.
Jim Cramer weighs in on Bank of America, YY, Okta, Sarepta Therapeutics, Wendy's, ADT, New Residential Investment, First Interstate Bancshares and more.
On the 14th anniversary for 'Mad Money', Jim Cramer talks about how to balance owning index funds and individual stocks.
U.S. retail sales excluding autos slipped by 0.1% in February, Bank of America says in a report that cited the bank's own credit- and debit-card spending data. The decline was partly caused by delays in tax refunds, which hit low-income households especially hard.
Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock: Series of Preferred Stock Dividend per Share...
Bank of America is doubling its investment in the Tory Burch Foundation Capital Program, committing $100 million in capital to connect women small business owners to affordable loans.
Citigroup CEO Michael Corbat got a 4.3% pay raise to $24 million, as the bank's board gave him an overall report card tantamount to a B-minus.
Hispanic small business owners are confident about their 2019 business outlook, with strong majorities planning for increased revenue, growth and expansion - eclipsing their non-Hispanic counterparts by double-digits on all indicators.
Negative revisions for a lot of big companies came out Wednesday. Macy's Campbell Soup and banks all saw rough commentary from Wall Street.
A wire transfer is often used when sending money from one person to another quickly, especially when distance or a different country separates the giver and receiver.
Warren Buffett's Berkshire Hathaway notched it worst annual performance in nearly two decades last year, the famous investor revealed in a letter to shareholders over the weekend, but said he was still looking for an "elephant-sized acquisition" for the $173 billion investment fund.
Kraft Heinz cut its dividend, missed earnings and revenue estimates and disclosed a federal subpoena. What should investors do now?
In letter to Berkshire Hathaway, Warren Buffett picks apart argument for shunning stocks for gold on inflation fears.
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