The secret guilty plea in October by a former commodity trader at J. P. Morgan Chase, who admitted that he rigged precious metals markets, drew the attention of a lawyer who has already accused the bank of similar conduct.
Goldman Sachs shares slump the most since 2016 after Malaysia's finance minister demands a full refund of fees it paid the bank tied to the doomed 1MDB investment fund.
Goldman is undergoing scrutiny for its role in the 1MDB scandal. The bank raised $6.5 billion to supposedly attract foreign investment for Malaysia. Instead, a financier known as Jho Low is accused of stealing billions of dollars from the fund.
John Edmonds, 36, said that from 2009 through 2015 he conspired with other J.P. Morgan traders to manipulate the prices of gold, silver, platinum and palladium futures contracts.
J. P. Morgan Chase Co-President Gordon Smith says concern about when a historic U.S. economic expansion might end could actually hasten the arrival of the next recession.
Banks want to move from hawking individual products to becoming platforms that clients can turn to as one-stop shops for financial services. The shift is necessitated by advances in technology that allow software to replace humans.
Banks have been fighting to entice big spenders to use their credit cards for years. Now, Citigroup is joining the fray with a card that more heavily incentivizes users to funnel all of their dining and air travel purchases through it.
Goldman is working on a digital wealth product, its first new offering under a Marcus brand that so far has had high-interest savings accounts and personal loans.
Goldman was set to send Dina Powell to the conference, but decided against it amid the uproar over journalist Jamal Khashoggi's disappearance, CEO David Solomon said in an interview with CNBC's Wilfred Frost on Thursday.
Bank of America CEO Brian Moynihan said that the adoption of technology at the second-biggest U.S. lender has allowed him to cut 100,000 workers in less than a decade.