Yellen Waits on Rates, Goldman Sachs Interns Get Nights Off: Finance Winners & Losers

NEW YORK (TheStreet) -- Goldman Sachs (GS) wants its interns to get some sleep, the Federal Reserve says Bank of America (BAC) needs to be more proactive, and JPMorgan Chase (JPM) and Wells Fargo (WFC) have yet to meet some of the requirements of foreclosure settlements, according to one of their regulators.

Elsewhere in the financial world, Barney Frank -- half of the mastermind behind the Dodd-Frank Financial Regulatory Reform Bill -- has just joined the board of Signature Bank (SBNY), according to a Wall Street Journal report.

Meanwhile, as the market rallied following the Fed's non-news that rates would stay the same, many banking stocks lagged. Fed Chair Janet Yellen suggested people might want to cool it with the talk of "when" the Fed will raise rates and instead focus on the "how." 


Though Goldman Sachs' offices at 200 West are modern and cool, the bank has told its summer investment banking interns to go home at night, according to a Reuters report. The bank said that interns should be out of the office by midnight and return no earlier than 7 a.m.

Goldman Sachs joins other banks in trying to reduce the long hours and stress young bankers face after several high profile deaths.

Shares of the New York-based bank closed down 0.30% at $212.93.


It's old news that Bank of America has to submit a revised stress test to the Fed after receiving a conditional approval on its March exam, but new details have emerged hinting that the Fed has a broader issue with the Charlotte, N.C.-based bank.

If you liked this article you might like

Market Recon: The Banks Trade Will Become a Yield Curve Watch

Market Recon: Interest Rates, Inflation Take Center Stage

Trump Win Put a Charge Into Banking ETFs; Construction ETF Needs Help

In New York, Chicago and Boston, Taxi Woes Continue, Spelling Trouble for Lenders