U.S. Derivatives Regulator Plans Tougher Enforcement Approach
Commodity Futures Trading Commission enforcers intend to push for heavier fines, particularly on repeat offenders, and will increasingly eschew settlements that allow firms to avoid admitting fault, the financial regulator’s enforcement unit said Tuesday.
Goldman Sachs Reports 33% Profit Drop
The bank is pinning much of its hopes on its asset and wealth-management unit. Quarterly revenue in that business fell 20%.
U.S. Bancorp's stock rallies on release of Fed banking requirement
U.S. Bancorp no longer has to meet Category II banking requirements after its December acquisition of MUFG Union Bank.
Fed to Propose Lowering Debit-Card Swipe Fees
The move would reduce the fees that banks receive when consumers shop with debit cards.
ACI Worldwide Settles With States, Financial Regulators Over Inadvertent Mortgage Payment Withdrawals
A 2021 computer testing error allegedly resulted in ACI’s payment-processing platform mistakenly withdrawing more than $2 billion from the accounts of mortgage holders.
Bank of America's profit climbs 10%, boosted by interest rates and loans
Nation’s second-biggest bank by market capitalization adds accounts and clients “across all lines of business,” but consumer-spending growth is slowing down.
Fed's Barkin sees 'plausible story' that slowing economy is working to bring inflation back to 2% target
Richmond Fed President Tom Barkin said Tuesday that the economy may be softer than the data suggests and may be helping to bring inflation down.
BNY Mellon Stock Rises After Earnings Beat. Thank Higher Interest Rates.
Bank of New York Mellon reported earnings of $1.22 a share on revenue of $4.4 billion in the third quarter.
Bondholdings Become Less of a Burden at Bank of America, Other Big Banks
Fixed-rate bonds that lost value as interest rates rose can even help out in some ways.
KKR Buys Minority Stake in Life Sciences Investor Catalio Capital
KKR has acquired a minority stake in Catalio Capital Management, a firm that manages venture-capital and other medical-investment funds, adding to a trend of private-equity firms moving upstream in life sciences through deals with earlier-stage investors.
(END) Dow Jones Newswires
10-18-23 0015ET
