Saule Omarova has withdrawn her nomination to head the Office of the Comptroller of the Currency after an ugly, and at times, incredibly personal, fight to be confirmed.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