Finance Banks


  • Sept 20- U.S. Senate lawmakers excoriated Wells Fargo& Co's chief on Tuesday for his oversight of the bank as it opened 2 million bogus customer accounts, potentially laying the groundwork for new rules and reviving questions of whether banks are "too big to fail." Chief Executive Officer John Stumpf told the Senate Banking Committee on Tuesday that customers who...

  • Senator Richard Shelby

    Wells Fargo didn't live up to a standard of trust, Sen. Richard Shelby, the Senate Banking Committee chairman, said Tuesday.

  • NEW YORK, Sept 20- U.S. "The BOJ has a greater propensity to surprise the market than the Fed," said Subadra Rajappa, head of U.S. rates strategy at SG Corporate& Investment Banking in New York. Some traders doubt whether the BOJ, led by Haruhiko Kuroda, would act aggressively to combat deflation and weak demand given the central bank's history of falling short of market...

  • NEW YORK, Sept 20- U.S. "The BOJ has a greater propensity to surprise the market than the Fed," said Subadra Rajappa, head of U.S. rates strategy at SG Corporate& Investment Banking in New York. "So few people have a handle on what they might do," said Gennadiy Goldberg, interest rate strategist at TD Securities in New York.

  • More regulations on the way?

    Terry Haines, Evercore ISI managing director and head of political analysis, discusses what today's Wells Fargo accounts scandal hearing may mean for banks and regulations.

  • *Dollar up vs major currencies, near highest since Sept. 1. NEW YORK, Sept 20- The dollar edged up against a basket of major currencies on Tuesday in light trading as investors made limited moves ahead of the conclusion of policy meetings at the Bank of Japan and U.S. Federal Reserve. "To a large extent I think the market is just paring back its expectations," said Richard...

  • Bill Gross

    If Bill Gross is right about the Fed, then the rest of the market is terribly wrong.

  • Wells Fargo under fire

    Paul Miller, FBR Capital Markets, discusses his buy rating on Wells Fargo and CEO John Stumpf's testimony over the fraudulent accounts scandal.

  • Sen. Shelby: Something wrong with WFC culture

    Sen. Richard Shelby (R-Alabama), Senate Banking Committee Chairman, discusses the investigation into the Wells Fargo fraudulent account scandal and today's testimony by CEO John Stumpf.

  • QUEBEC CITY, Quebec, Sept 20- Canadian interest rates will stay low for longer as the economy faces strong headwinds and business investment is weaker than expected, but government spending on infrastructure will help growth, Bank of Canada Governor Stephen Poloz said on Tuesday. They acknowledge that there are significant headwinds that require in exchange...

  • *Political worries, weak bank stocks weigh on Italy. MILAN, Sept 20 (Reuters)- European shares ended little changed on Tuesday as investors remained cautious ahead of monetary policy decisions from the Federal Reserve and Bank of Japan on Wednesday. Futures are pricing the chance of a U.S. rate rise this week at just 15 percent, while the chance of a December hike is...

  • Senator Elizabeth Warren, a Democrat from Massachusetts, questions John Stumpf, chief executive officer of Wells Fargo & Co., during the Senate Committee on Banking, Housing, and Urban Affairs in Washington, on Tuesday, Sept. 20, 2016.

    Senator Elizabeth Warren pressed Wells Fargo CEO John Stumpf during the committee hearing on Wells Fargo’s account-opening practices.

  • Wells Fargo CEO John Stumpf, is sworn in before testifying at a Senate Banking, Housing, and Urban Affairs hearing in Dirksen Building, September 20, 2016.

    Wells Fargo CEO John Stumpf arrived at a bruising Capitol Hill hearing with his right hand already wrapped.

  • Kudlow: Nothing better than a Wall St. pinata in election year

    CNBC Contributors Jon Najarian and Larry Kudlow weigh in on Wells Fargo CEO John Stumpf's testimony to the Senate Banking Committee.

  • Warren Buffett, chairman of Berkshire Hathaway.

    One of Warren Buffett's top stock pickers just got added to the JPMorgan Chase board of directors. Does this mean Buffet purchased a stake in JPMorgan?

  • Stumpf: Board has a process to deal with clawbacks

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Elizabeth Warren (D-Massachusetts) about his reliance on his board to deal with the massive fraud clawbacks.

  • LONDON, Sept 20- The Royal Bank of Scotland has begun winding down its global shipping finance business, it said on Tuesday, ending efforts to sell it off during a worsening downturn across the freight industry. Chief Executive Ross McEwan is battling to complete a restructuring of the British bank, which includes asset sales and thousands of job cuts, amid a...

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