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News Articles: banks

A.J. King, the CEO of Three Rivers Bank in Kalispell, Mont., sitting at his office. King says his bank shouldn't have to pay for mismanagement at Silicon Valley Bank and Signature Bank.

Tagged as: 

  • Business

It cost $22 billion to rescue two failed banks. Now the question is who will pay

Regulators need to decide how to recover the cost of rescuing Silicon Valley Bank and Signature Bank — and community banks across the country are warning they should not be on the hook.

April 13, 2023
|
By:
  • David Gura
Liz Southers runs a commercial insulation company in South Florida. She says the company could grow faster if it had access to more credit.

Tagged as: 

  • Economy

Banks are spooked and getting stingy about loans – and small businesses are suffering

Weeks after the collapse of Silicon Valley Bank, lenders are getting stingier about making loans. That makes it harder for businesses trying to grow and – and it raises the risk of recession.

April 10, 2023
|
By:
  • Scott Horsley
GPB News NPR

Tagged as: 

  • Law

A bill in the Arizona House would punish banks that refuse business from gun firms

Bankers are resisting the bill, calling it government overreach and saying lawmakers are creating a problem with a non-issue in Arizona.

February 18, 2022
|
By:
  • The Associated Press
Saule Omarova addresses the Senate Banking Committee during her nomination hearing on Nov. 18 to head the Office of the Comptroller of the Currency. Omarova withdrew her nomination on Tuesday after facing opposition from Republicans and some moderate Democrats.

Tagged as: 

  • Politics

Biden's pick to become a key banking regulator withdraws after ugly nomination fight

Saule Omarova has withdrawn her nomination to head the Office of the Comptroller of the Currency after an ugly, and at times, incredibly personal, fight to be confirmed.

December 08, 2021
|
By:
  • David Gura
Cornell University Professor Saule Omarova testifying on fintech at a hearing organized by the Senate Banking committee on Sept. 18, 2018. Today, Omarova is President Biden's nominee to head the agency that oversees the majority of the assets held by the country's banks, and she will appear in front of the same Senate committee for her confirmation hearing on Thursday.

Tagged as: 

  • Business

A look into the ugly and incredibly personal fight over Biden's pick to oversee banks

An ugly battle is being waged over Saule Omarova, President Biden's nominee to oversee most of the money held by banks. Her confirmation hearing is on Thursday.

November 18, 2021
|
By:
  • David Gura
A house under foreclosure in Las Vegas displays a sign on Oct. 15, 2010, saying that it's now bank-owned. Sen. Sherrod Brown has vowed increased scrutiny of Wall Street banks, in part after a surge in foreclosures in his hometown in Ohio over a decade ago.

Tagged as: 

  • Business

Why Democrats Are Angry At Wall Street

Big banks are facing a new reality in Washington: Democrats control all levers of power and they are not shy about their intentions to ratchet up pressure on the sector.

May 30, 2021
|
By:
  • David Gura
Right out of college Anita Ramaswamy was hired for her dream job as an analyst at a big bank on Wall Street. She frequently worked until midnight, including during the pandemic.

Tagged as: 

  • Business

'Absolute Meltdown': Wall Street's Work Till You Drop Culture Under Attack

Burnout in investment banking has been a problem, but the pandemic has made it worse. A handful of firms are responding by offering extra perks and more pay. But more money may not be the answer.

May 07, 2021
|
By:
  • David Gura
More so than other big banks, Goldman Sachs depends on stock and bond trading to make money, and the financial markets were the place to be in the second quarter.

Tagged as: 

  • Business

It's Nice To Be Rich: Wall Street Is Raking In Profits In The Stock Market

The economy is tanking, with massive layoffs and bankruptcies. But the richest sliver of the country continues to do quite well. The latest evidence: Goldman Sachs said it's raking in money on trades.

July 15, 2020
|
By:
  • Jim Zarroli
"We still face much uncertainty regarding the future path of the economy," JPMorgan Chase CEO Jamie Dimon said Tuesday in a statement accompanying the giant bank's financial results.

Tagged as: 

  • Business

'We Still Face Much Uncertainty': Pandemic Hammers Big Banks

The dramatic collapse of the U.S. economy is pummeling America's largest banks. Wells Fargo has posted its first quarterly loss since 2008 and JPMorgan Chase has set aside billions to cover bad loans.

July 14, 2020
|
By:
  • Jim Zarroli and
  • Avie Schneider

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