New York's Attorney General says there is more evidence that Bank of America, Wells Fargo and other banks violated the terms of a settlement designed to end mortgage abuses.
U.S. banks were the best performers among stocks last year as more financial institutions continue to adjust after the 2008 financial crash. Analysts argue that there is more headroom, but some could be left behind as compliance with new rules takes its toll.
Germany's Deutsche Bank benefited from trades pegged to the London Interbank Offer Rate (Libor) currently under investigation, the Wall Street Journal reported on Thursday, adding that the bank made at least 500 million euros ($654 million) in profit from the trades in 2008.
Mikio Kumada, Executive Director & Global Strategist, LGT Capital Partners sees value in Japan equities specially the banks and exporters given the weakness in the yen.
The European Central Bank is expected to keep interest rates at a record low of 0.75 percent on Thursday, refraining from a cut as the euro zone economy shows some signs of stabilising and inflation still tops its target.
All eyes will be on Wells Fargo this Friday, reports CNBC's Kayla Tausche. Jason Goldberg, Barclays, and Anton Schutz, Mendon Capital Advisors, discuss.
It was not in the interest of AIG, its shareholders or the public to sue the U.S. over the terms of its bailout, CEO Robert Benmosche told CNBC on Wednesday.
Morgan Stanley plans to cut 1,600 jobs in its investment banking unit, roughly 6 percent of staff in that unit, with employees being informed about job losses beginning this week, said a person familiar with the matter.
Goldman Sachs and Morgan Stanley are among a group of banks expected to agree as soon as this week to a $1.5 billion settlement with federal regulators over botched foreclosure claims, two sources told Reuters.
Investment banking has been the focus of much of the recent news in the financial universe, with politicians urging banks to refocus on their traditional retail operations.
"The housing market is going to continue to grow and that's going to be a real driver to the success of the banks this year," said Gerard Cassidy, RBC Capital Markets analyst, explaining how economic optimism and more regulatory transparency are fueling the bull market in financial stocks.
UBS has yet to fully purge itself of a global interest rate scandal that has put it at risk of a wave of costly civil suits, its investment banking chief said on Wednesday.
AG Lafley is viewed as a legend not only at P&G but also within the corporate world, reports CNBC's Jackie DeAngelis. John Faucher, JPMorgan analyst, and Marian Moore, University of Virginia, weigh in.