It's the latest salvo in the government's campaign against so-called "junk fees," which President Biden said last year harm "working folks" and drive up costs for consumers.
JPMorgan Chase is taking over First Republic after the troubled bank was placed in the FDIC's receivership in the latest failure in the banking system.
Voters hate bank bailouts. But letting them fail without a safety net for customers could have been even worse for President Biden ahead of the 2024 presidential race.
Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.
Though Georgia’s Teachers Retirement System (TRS) lost about $33 million when two large banks failed earlier this month, the loss is just a sliver of a fraction of the TRS’ $88 billion in total assets.
When 24-year-old Bob James became president of Savannah's Carver State Bank in 1971, he was one of the youngest bank presidents in the country. Now, after more than 50 years at the helm of one of the country's few Black-owned banks, he says he's ready to hand over the bank's day-to-day operations to his son.
Lebanon's banks froze accounts three years ago amid an economic collapse. Now, under increasingly desperate circumstances, people are resorting to extreme measures to access their savings accounts.
Landing a job at Goldman Sachs is a golden ticket. It's harder to get hired by Goldman than to get into Harvard. CEO David Solomon says 3,500 workers start this week. He wants them all in the office.
Days after withdrawing her nomination to become a key banking regulator, Omarova blames banks for distorting her research and creating an ugly environment.
The pandemic forced Wall Street dealmaking into the digital age, but many bankers want to get back to the way things were — and that includes traveling again.
The Trump administration is trying to force banks to make loans to gun-makers and to finance payday lenders. Critics call the move bizarre. It's opposed by watchdog groups and banks.
