Assistant Public Defender Mark Gombiner said it was a "sad story" that his client, Sean Stewart, was on trial because his father, Robert Stewart, "ended up betraying his son." Gombiner said in an opening statement in Manhattan federal court that the son, a 35- year-old Yale-educated former athlete who was valedictorian of his high school class in North Merrick on Long... » Read More
Federal law currently prohibits banks from processing marijuana transactions, but that may all be about to change.
Government regulations aimed at reducing reducing risk at the nation's banks in the wake of the 2008 financial crisis are having the opposition effect, bank analyst Dick Bove tells CNBC.
Winthrop H. Smith, Sugarbush Resort president, discusses the history of Merrill Lynch and the real story of what happened to the brokerage firm as it marks its centennial anniversary. No one challenged the culture of fear that had grown there, says Smith.
They’re called momentum stocks on Wall Street. Cramer says they can make you a lot of money, but only if you know when to get out.
Moelis & Co. founder and CEO Ken Moelis, discusses the current M&A environment, as well as regulatory conditions. He says regulations "will continue to pressure people who want to have one-on-one relationships with their client undisturbed by some of the oversight that's meant for balance sheets."
Securities brokers who think California's court system offers an easy path for erasing details from their public records may want to think again.
Wall Street's watchdog is developing a new rule that would require clearing firms to regularly provide it with data about brokerage transactions.
NYPD has denied that its commissioner, Ray Kelly, was in talks with JPMorgan Chase about a senior role in security at the bank.
Democrat Bill de Blasio seems headed to be New York's next mayor. But Wall Street's worries about his election are unwarranted, some observers say.
Hammered by their role in the 2008 crisis and the rigging of the LIBOR, the global banking sector looks set to take another battering.
Around 1.2 trillion euros ($1.7 trillion) of non-performing loans are parked on European banks' balance sheets.
Mizuho Financial Group said the chairman of its banking unit will resign following a loans-to-mobsters scandal.
Financial services professionals based in Singapore – Southeast Asia’s financial hub – have high hopes for bonuses this year, according to a new survey.
JPMorgan's tentative $13 billion mortgage settlement with federal and state regulators is a "terrible deal," former prosecutor and SEC lawyer Jacob Frenkel told CNBC.
Retail banks care becoming increasingly concerned about being left behind by trends in social networking and mobile computing, according to a survey of the industry.
Morgan Stanley reported a 50 percent rise in revenue as higher income from equities sales and trading made up for a drop in fixed income.
Former Wells Fargo boss Richard Kovacevich said Friday that he stands by the assertion he made last month on CNBC's "Squawk Box" that TARP ruined the banks.
Former Treasury Secretary Hank Paulson told CNBC he'd comment on JPMorgan's legal troubles, even though he shouldn't. Warren Buffett also weighed in.
The government standoff is different from the 2008 financial crisis because it is "self-inflicted," Hank Paulson told CNBC.
JPMorgan Chase shook off the "London Whale" scandal to take the top spot for investment banking fees, according to a report published on Wednesday.