Banking

JPMorgan elevates 2 women to run bank’s biggest division

JPMorgan Chase will promote two women to jointly manage the bank’s consumer finance division — the bank’s biggest business by far — potentially signaling that a woman may eventually run the nation’s biggest bank.

Visa sees pandemic 'storm' clearing

Visa Inc is emerging from the COVID-19 pandemic, its top boss said on Tuesday, as a surge in online shopping helped the world's biggest payment processor beat Wall Street estimates for quarterly profit and counter sluggish travel spending.

Archegos hit tops $10B after UBS, Nomura losses

The battering to Wall Street banks from Archegos Capital Management topped $10 billion after UBS Group AG and Nomura Holdings Inc. reported fresh hits caused by the fund’s collapse.

JPMorgan ramps up hiring to combat junior banker burnout

JPMorgan Chase has hired approximately 90 junior bankers and support staff and will hire an additional 100 more globally in an effort to take on the bank's record volumes of activity and to help combat employee burnout, a source familiar with the matter told FOX Business.

Texas wind farms sue Citigroup over charges from winter storm

A Canadian renewable energy firm on Wednesday sued Citigroup Inc (NYSE:C) for rejecting force majeure declarations during a February winter storm and billing it over $100 million for replacement power, according to lawsuits filed in a Texas state court.

U.S. House of Representatives approves cannabis banking bill

The U.S. House of Representatives on Monday passed legislation that would allow banks to provide services to cannabis companies in states where it is legal, a step towards removing what analysts say is a barrier to development of a national industry.