U.S. mid-sized banks profits would
remain under pressure for most of 2024, Wall Street analysts
said, as higher deposit costs and muted loan growth drag their
earnings. Regions.
(Reuters) -Wells Fargo said the U.S. Office of the Comptroller of the Currency has terminated a 2016 punishment for the bank’s sales practices, the bank said, after it spent years trying to repair the damage from a fake accounts scandal. The move marks the sixth consent order that was terminated by regulators since 2019, CEO Charlie Scharf said in a statement. "I have repeatedly said that implementing a risk and control framework appropriate for a bank of our size and complexity is our top priority, and closing consent orders is an important sign of our progress," Scharf said in a statement.
NEW YORK JPMorgan Chase shuffled executives in its investment banking and consumer units on Thursday (Jan 25), giving them more experience running different businesses as Wall Street focuses on succession plans for CEO Jamie Dimon. The largest US lender appointed Marianne Lake sole CEO of the consumer division, which was previously run together by Lake and Jennifer Piepszak, according.
MoneyShow s Best Investment Ideas For 2024: Part 1 seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.