BTIG expects employees to work from home through 2020

Brokerage firm BTIG said Friday it expects its U.S. employees to continue working remotely for the rest of the year, joining the ranks of employers who say their staff have adjusted to the new normal and prefer to play it safe as transmission rates spike in parts of the country.

JPMorgan Chase, Ping An invest in supply chain payments fintech Taulia

The investment units of JPMorgan Chase and Ping An Insurance agreed to invest in California payments platform Taulia, as firms see increasing value in supply chain finance amid pandemic-related disruption.

JPMorgan, Bank of America, Wells Fargo and Goldman Sachs join climate initiative

Four major U.S. banks partnered with a clean energy nonprofit for an initiative that would put the financial industry on track to lower carbon emissions to net-zero by 2050.

Wells Fargo launches $400M fund aimed at minority small-business owners with PPP fees

Wells Fargo said Thursday that it has launched a new $400 million fund that will be fed through the donation of its Paycheck Protection Program fees in order to help small businesses that have taken the brunt of the economic damage caused by the continuing COVID-19 pandemic.

Big banks absent from Fed’s Main Street lenders list

The Federal Reserve Bank of Boston on Wednesday released a state-by-state list of lenders that have registered for the Main Street Lending Program, revealing a selection of the banks that have chosen to participate in the mid-size business loan program.

JPMorgan Chase pauses plans to open up Ohio offices as COVID-19 cases climb

JPMorgan Chase suspended plans to open its offices in Columbus, Ohio, after the Midwestern state had its highest day for new coronavirus cases on July 3, bank spokesperson Carlene Lule told Fastinform Wednesday.

US bank earnings could drop 69% in the second quarter, Goldman Sachs says

Earnings for the top seven U.S. banks are likely to plunge almost 70% year-over-year in the second quarter, with near-zero interest rates cutting deep into income, analysts from Goldman Sachs projected.

Ex-JPMorgan forex trader’s conviction upheld by New York judge

A federal judge on Monday upheld a former JPMorgan foreign exchange trader’s conviction for trying to manipulate emerging market currency prices, rejecting his request to set aside a jury’s findings.

Sun Life expands sustainability options with new ESG framework

To keep members informed of sustainable investing options, Sun Life’s Group Retirement services has debuted a proprietary Environment, Social and Governance evaluation framework, the insurer said Tuesday.

BBVA sees strong demand for inaugural green CoCo bond

Spanish banking giant Banco Bilbao Vizcaya Argentaria, S.A. said Tuesday that it rolled out the first green contingent convertible bond from a financial institution, raising €1 billion (nearly $1.13 billion) amid strong investor demand.

CBA systems back online after IT issue blocks account access, payments

Commonwealth Bank of Australia said late Monday evening that its systems were back up and running after an afternoon riddled with IT issues that left many customers unable to view their accounts or make payments.

PPP set for extension after House sends bill to Trump

Small businesses will have another five weeks to apply for emergency government-backed loans to help them stay afloat during a COVID-19 resurgence under a bill passed by the House of Representatives late Wednesday that will now go to President Donald Trump for his signature.

Chinese banks led global industry profit gains in 2019, GlobalData says

China’s banking system saw some of the biggest bumps in assets and profit last year among the largest global institutions, a research group found, reflecting big banks’ ability to better withstand the pandemic compared with regional lenders.

Citigroup holds off on returning its workforce to offices as COVID-19 cases surge

With confirmed cases of COVID-19 seeing a resurgence in many areas of the country, Citigroup is holding back on its original plan to return many of its employees to offices, the company confirmed Wednesday.

Wells Fargo alone among big banks to shrink dividend following stress test results

Wells Fargo confirmed Monday that it will be the only Big Four U.S. bank to reduce its planned third-quarter dividend, after the Federal Reserve released the results of its annual stress test and capped payouts to ensure institutional resilience amidst the economic downturn in a move that fell short of other central banks’ restrictions, leaving the door open for most planned shareholder returns — for now.

JPMorgan says ‘technical issue’ caused customer balance errors

JPMorgan Chase said Sunday a “technical issue” caused some customers over the weekend to see incorrect balances for their checking accounts and that the lender has since fixed the glitch.

China plans to grant securities licenses to commercial banks: Caixin

China’s securities regulator is planning to grant securities licenses to commercial banks as part of a wider effort to help domestic businesses compete with foreign rivals, Chinese business news site Caixin reported on Sunday.

Digital payment surge under COVID-19 won’t completely erase cash, Fed says

The COVID-19 pandemic is threatening to temporarily erase cash payments in bars, restaurants and casinos, but the digital replacement options aren't proving effective enough to kill cash completely, the Federal Reserve Bank of Kansas City said Thursday.

Deutsche Bank introduces WhatsApp as client communication tool

Deutsche Bank plans to boost the efficiency of messaging between its clients and employees by integrating the popular WhatsApp chat platform into its communication channels through an expansion of its partnership with Symphony Connect Solution, the bank said Thursday.

Credit Suisse hires CEO for Saudi commercial banking arm as it bolsters its presence in the region

Swiss lender Credit Suisse named a chief executive officer to lead its new Saudi commercial banking business as it seeks to further establish its presence in the country.

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