by Ken Chase | Feb 14, 2023 | Banks, News
The Federal Reserve Board of Governors has announced the various scenarios it will use for its 2023 bank stress test. The test is an annual assessment designed to ensure that the nation’s banks have the resilience needed to meet the challenges posed by several...
by Ken Chase | Feb 14, 2023 | Banks, News
New York City officials this week announced new measures designed to ensure that the city’s banking institutions remain committed to fighting banking discrimination in hiring and lending. The two transparency measures will apply to any banks that seek to hold city...
by Ken Chase | Feb 11, 2023 | Banks, News
Banking giant Wells Fargo has reportedly agreed to a $300 million settlement in a class action lawsuit related to the company’s alleged involvement in a collision protection insurance fraud scheme. The settlement was announced by Robbins Geller Rudman & Dowd LLP,...
by Ken Chase | Feb 6, 2023 | Banks, News
JPMorgan Chase is planning to develop a digital bank in Germany that it expects to serve as its hub for consumer services in the European Union, according to sources who confirmed the plans to Bloomberg. Chase, which is the largest bank in the U.S., is apparently...
by Ken Chase | Feb 6, 2023 | News
The Federal Reserve announced yet another interest rate hike this week, as it continues its efforts to rein in stubbornly high inflation. Unlike its most recent rate hikes, however, this increase was a more modest boost of a quarter of a percentage point. The central...
