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Financial
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30 banks test well, gain Fed leeway

posted: 06/30/2016 2:13 a.m. Discuss

The Federal Reserve has given the green light to major banks in the U.S. to raise dividends and buy back shares, judging them to have a sturdy enough financial foundation to withstand a major economic downturn.

U.S. regulators take notice as banks rake in overdraft fees

posted: 06/15/2016 2:11 a.m. Discuss

The country's largest banks have increased the amount they collect from customers in overdraft fees, according to new government data, just as regulators are considering whether to issue rules that would rein in their use.

Banks' upgrades to ease client-to-client transfers

posted: 05/28/2016 1:46 a.m. Discuss

JPMorgan Chase, Wells Fargo and other big banks are upgrading their online payment services to allow customers to transfer money instantly to others who bank elsewhere, often at no cost.

Banking by phone gaining traction

posted: 05/01/2016 3:08 a.m. Discuss

The use of mobile banking -- consumers accessing bank services using a mobile phone -- continues to increase, according to an annual survey by the Federal Reserve Board.

Chinese banks feel strain of bad debt as economy slows

posted: 04/16/2016 1:42 a.m. Discuss

For Chinese banks, the decision to lend to companies such as Bohai Steel was for years a no-brainer. Lenders took heart from its state backing, which appeared as solid as the millions of tons of steel pipes that rolled off its production lines each year.

5 big banks fail crisis-plan test

updated: 04/14/2016 3:48 a.m. Discuss

Five of the largest U.S. banks don't have credible plans for winding down their operations without taxpayer help if they should start to fail, federal regulators said Wednesday.

JPMorgan fails key test; profit falls 8%

posted: 04/14/2016 1:59 a.m. Discuss

JPMorgan Chase said Wednesday that its first-quarter profit fell more than 8 percent from a year ago and tried to soothe investor concerns after it failed a key regulatory test designed to prevent another financial crisis.

Fed opts not to raise key interest rate

posted: 03/17/2016 2:09 a.m. Discuss

The Federal Reserve decided Wednesday to keep a key interest rate unchanged in light of global pressures that risk slowing the U.S. economy.

Banks offer free FICO scores to clientele

posted: 03/10/2016 2:08 a.m. Discuss

Big banks and credit card companies are increasingly offering customers free access to their FICO scores.

Fed proposes new rules on big banks

posted: 03/05/2016 1:45 a.m. Discuss

Wall Street giants such as JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. would face new limits on credit exposure to any other large financial company under a new Federal Reserve proposal.

Banks' profits rise 11.9%; legal costs down, loan losses up

posted: 02/24/2016 2:09 a.m. Discuss

U.S. bank earnings jumped 11.9 percent in the final three months of 2015 compared with the previous year on rising revenue. Legal expenses declined as some big banks wound down legal settlements that arose from the financial crisis.

Banks soon to equip ATMs that use phones not cards

posted: 02/18/2016 2:10 a.m. Discuss

To the long list of things that can be done with a mobile phone -- including watching a movie, buying a latte and hailing a ride -- another is being added: getting cash.

Fed exec: Banks 'still too big to fail'

posted: 02/17/2016 2:10 a.m. Discuss

A top architect of the 2008 federal bailout of the financial industry said Tuesday that the government had not done enough to prevent a repeat.

Outlook for world economy pared

posted: 01/07/2016 2:08 a.m. Discuss

The World Bank has cut its forecast for global growth this year, citing weakness in the developing world.

Foreclosure lapses to cost bank $48M

posted: 01/06/2016 2:09 a.m. Discuss

JPMorgan Chase & Co. will pay $48 million to settle the last in a series of missteps in its handling of foreclosures after the 2008 credit crisis, according to the Office of the Comptroller of the Currency.

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