TIAA on Thursday named Thasunda Brown Duckett as its new chief executive officer.
Duckett comes to the financial services firm from JPMorgan Chase, where she was CEO of Chase Consumer...
CHARLOTTE, N.C. (AP) — Consumer banking giant Bank of America says third-quarter profit declined 15.6% from a year earlier, but saw less need to put aside money to cover potentially bad loans,...
CHARLOTTE, N.C. (AP) — Citigroup says profit fell 34% in the third quarter due to weakness in its consumer banking division, as the pandemic continues to make it tough for millions of Americans...
NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman to ever lead a Wall Street bank when she succeeds CEO Michael Corbat in February.
NEW YORK (AP) — Bank of America's second-quarter profits were sawed in half and the consumer banking giant set aside billions of dollars to cover potentially bad loans caused by the coronavirus...
NEW YORK (AP) — Consumer banking giant Bank of America said Wednesday that its fourth-quarter profits fell 4% from a year ago, as the bank was impacted by the rapid decline of interest rates in...
NEW YORK (AP) — JPMorgan's third-quarter profit grew 8% thanks to higher interest rates and strong performance at its investment banking business.
NEW YORK (AP) — Bank of America's second-quarter profits rose by 8% from a year earlier, the company said Wednesday, as the consumer banking giant has benefitted greatly from the rise in interest...
WASHINGTON (AP) — Wells Fargo reported better-than-expected earnings despite lower interest income in the second quarter, a potential concern for investors with a Fed interest rate cut likely on...
NEW YORK (AP) — Goldman Sachs' consumer banking division will celebrate its fifth year in operation next month. 'Marcus,' as the retail division is now known, is the investment bank's first foray...
WASHINGTON (AP) — The CEO of beleaguered Wells Fargo told Congress Tuesday that the bank has cleaned up its act after a series of scandals that affected millions of customers.
NEW YORK (AP) — Wells Fargo, the consumer banking giant, said its fourth-quarter profits fell slightly on Tuesday as the bank remains restrained by federal regulators, who put a tight leash on it after years of scandals and missteps.
NEW YORK (AP) — Bank of America's profits rose to a record $6.9 billion last quarter thanks in part to the new tax law and higher interest rates.
The consumer banking giant earned $6.92 billion, or 62 cents per share, up from $5.34 billion, or 45 cents a share, from the same period a year ago. Analysts had been expecting a per-share profit of 59 cents, according to FactSet.
WASHINGTON (AP) — Wells Fargo's profit jumped 6 percent during the first quarter, but that may be revised following an offer by federal regulators to settle a host of investigations into the consumer banking giant at a cost of $1 billion.
WASHINGTON (AP) — Wells Fargo is acknowledging that Federal regulators have offered to resolve a host of investigations into the consumer banking giant for $1 billion. The disclosure comes as Wells reports a 6 percent increase in first-quarter profit.
NEW YORK (AP) — Wells Fargo says its fourth-quarter earnings rose 17 percent from a year ago, as the consumer banking giant benefited from the recently passed GOP tax bill, but incurred additional costs related to improper sales practices and other matters.
WASHINGTON (AP) — President Donald Trump on Wednesday signed the repeal of a banking rule that would have allowed consumers to join together to sue their bank or credit card company to resolve financial disputes.
The president signed the measure at the White House in private. Journalists were not present to witness the signing.
The Republican-led Senate narrowly voted to repeal the Consumer Financial Protection Bureau's regulation, which the banking industry had been seeking to roll back.
NEW YORK (AP) — JPMorgan Chase & Co. third-quarter profits rose 7 percent from a year earlier, as the bank as able to increase revenue in its consumer banking business even though the company saw a sizeable drop in trading revenue in the quarter.
NEW YORK (AP) — Consumer banking giant Bank of America reported a 10 percent rise in second-quarter profits on Tuesday as gains from higher interest rates were more than enough to offset a drop in trading revenue.
The Charlotte, North Carolina-based bank said it earned $5.27 billion, or 49 cents per share, compared with $4.78 billion, or 43 cents per share, in the same period a year earlier. The results beat analysts' forecasts of 43 cents a share.
NEW YORK (AP) — A slew of banking issues are on the agenda in Washington right now, from proposals to roll back some of the regulations implemented after the financial collapse a decade ago to questions over the structure of the Consumer Financial Protection Bureau. Wells Fargo is still in the headlines, feeling more repercussions from its scandal over fake accounts. Banks are also facing pressure from Silicon Valley, which has looked to scoop up business in things like payments and student loans.
NEW YORK (AP) — Bank of America's first quarter profits grew nearly 40 percent, the bank said Tuesday, helped by higher interest rates as well as a strong performance in its investment banking division.
The Charlotte, North Carolina-based consumer banking giant reported net income of $4.86 billion, compared with $3.47 billion in the same period a year earlier. On a per-share basis, Bank of America earned 41 cents per share, beating the 35 cents that analysts were looking for.
NEW YORK (AP) — Bank of America's first quarter profits grew nearly 40 percent, the bank said Tuesday, helped by higher interest rates as well as a strong performance in its investment banking division.
The Charlotte, North Carolina-based consumer banking giant reported net income of $4.86 billion, compared with $3.47 billion in the same period a year earlier. On a per-share basis, Bank of America earned 41 cents per share, beating the 35 cents that analysts were looking for.
NEW YORK (AP) — Bank of America's first quarter profits grew nearly 40 percent, the bank said Tuesday, helped by higher interest rates as well as a strong performance in its investment banking division.
The Charlotte, North Carolina-based consumer banking giant reported net income of $4.86 billion, compared with $3.47 billion in the same period a year earlier. On a per-share basis, Bank of America earned 41 cents per share, beating the 35 cents that analysts were looking for.
TOKYO (AP) — Asian shares mostly advanced Thursday after further gains on Wall Street that pushed the Nasdaq composite to a new record for the second day in a row. Japan's benchmark recovered lost ground after reports of strong machinery orders in December.
Bank of America's fourth-quarter profit jumped 47 percent from a year ago as the nation's largest consumer bank benefited from higher interest rates and lower expenses.
The Charlotte, North Carolina-based bank said it earned a profit of $4.34 billion after payments to preferred shareholders, or 40 cents per share, up from $2.95 billion, or 27 cents a share, in the same period a year earlier. The results topped analysts' expectations, who were looking for 38 cents per share, according to FactSet.
Bank of America's fourth-quarter profit jumped 47 percent from a year ago as the nation's largest consumer bank benefited from higher interest rates and lower expenses.
The Charlotte, North Carolina-based bank said it earned a profit of $4.34 billion after payments to preferred shareholders, or 40 cents per share, up from $2.95 billion, or 27 cents a share, in the same period a year earlier. The results topped analysts' expectations, who were looking for 38 cents per share, according to FactSet.
NEW YORK (AP) — Bank of America's third-quarter profits rose nearly 6 percent from a year earlier, helped by strong results in investment banking and trading as well as lower expenses. The profit growth came from all four of the bank's businesses and despite continuing low interest rates.
The consumer banking giant said Monday it earned $4.45 billion in the three months ending in September after paying dividends to preferred shareholders, up from $4.178 billion in the same period a year earlier.
NEW YORK (AP) — Bank of America's third-quarter profits rose nearly 6 percent from a year earlier, helped by strong results in investment banking and trading, as well as lower expenses.
The consumer banking giant said Monday it earned $4.45 billion after paying dividends to preferred shareholders in the three months ending in September, up from $4.178 billion in the same period a year earlier.
NEW YORK (AP) — Citigroup's earnings fell 17 percent in the second quarter, hurt by weak results in consumer banking as interest rates remain extremely low, making lending less profitable. The results still beat analysts' forecasts, however.
The New York-based financial conglomerate said it earned net income of $4 billion on Friday, or $1.25 per share, compared with $4.85 billion, or $1.51 per share, in the same period the year earlier. The results beat the $1.10 per...
NEW YORK (AP) — Consumer banking giant Wells Fargo said its second-quarter earnings fell 3 percent from a year ago as the bank continues to feel pressure from low interest rates.
Wells Fargo on Friday reported second-quarter earnings of $5.56 billion, down from $5.72 billion in the same period a year earlier. On a per share basis, the San Francisco-based bank earned $1.01 per share, down from $1.03 per share a year earlier.