Banking

Credit Suisse Group AG amassed more than $20 billion of exposure to investments related to Archegos Capital Management, but the bank struggled to monitor them before the fund was forced to liquidate many of its large positions, according to people familiar with the matter.

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.

Odeon Capital Group chief financial strategist Dick Bove on bank earnings and the Federal Reserve's money printing.

Morgan Stanley's first-quarter profit more than doubled from a year earlier, reporting a profit of $4.1 billion, despite the bank's record performance being offset by Archegos losses.

The virtual hearings scheduled for May 26 and 27 could determine how much legislative and political risk the biggest banks will face through 2022

Mastercard on Wednesday announced that it will be requiring banks to certify that sellers of adult material online have tools in place to monitor, block and remove illegal content.

Bank of America Corp reported a jump in first-quarter profit that breezed past estimates on Thursday as it released reserves it had set aside to cover potential coronavirus loan losses.

Digital bank account One is flipping the switch on traditional banking and CEO Brian Hamilton warned that the market should be prepared for interruptions.

The U.S. economic recovery accelerated to a moderate pace from late February to early April as consumers, buoyed by increased COVID-19 vaccinations and strong fiscal support, opened their wallets to spend more on travel and other items, the Federal Reserve said on Wednesday.

Investment bank Goldman Sachs saw its profits nearly quintuple in the first quarter, driven by a massive surge of revenue from its core investment banking and trading operations.

Kelyn Spadoni, 33, was taken into custody Wednesday on charges of theft valued over $25,000, bank fraud and illegal transmission of monetary funds.

Jack Ma's Ant Group will apply to become a financial holding company, which will be overseen by China's central bank, subjecting the company to tighter regulations.

Credit Suisse will announce the departure of two senior executives and detail how much it expects to lose through its exposure to family office Archegos Capital in an investor update Tuesday, sources familiar with the matter said.

Before his epic collapse this week losing an estimated $8 billion or possibly in 10 days, hedge fund trader Bill Hwang increased the size of his fortune a staggering 900% or more in just seven years.

Delta and JPMogran are condemning Georgia's HB 531 -- a controversial election reform bill that Gov. Brian Kemp signed last week after it passed in the Republican-controlled legislature.

Remote work is hurting the commercial real estate industry in major cities, including New York and San Francisco, as more firms look to ditch their office spaces permanently.

In some of the country’s largest shopping malls like Palisades Center in West Nyack, NY, the strategy to add theme-park like attractions to make up for declining foot traffic looks less like a lifeline and more like a burden. 

CEO Jane Fraser is also asking employees to try and limit scheduling calls outside of traditional working hours and on weekends.

An elaborate slideshow, which was shared with managers, includes testimonials of working 20-hour shifts that one worker called “inhumane.”

A new study has reinforced the view that traditional banks are on the decline, citing advancements in technology and internet access for the continuing trend.