Banks, Financial Institution | featured news

The banking industry, racked by the financial crisis and facing slower revenue growth, is starting to cut costs—increasingly at the expense of jobs.

Since WikiLeaks threatened to “take down” a major American bank, officials at Bank of America have been hunting for any sign that its systems have been compromised.

Bank of America Corp. has joined several other financial institutions in refusing to handle payments for WikiLeaks.

Global financial regulators on Sunday agreed on new banking rules designed to strengthen bank finances and rein in excessive risk-taking to help prevent another crisis.

Regulators closed six more banks around the country, marking the second consecutive year that more than 100 financial institutions have collapsed.

Lawmakers on Tuesday spared auto dealers from new scrutiny and neared agreement on trading limits for banks as they raced to complete the biggest overhaul of the financial rule book since the 1930s.

A compensation review of 28 financial companies found that many of the bonus programs that economists said contributed to the financial crisis were still in place.

Citigroup is positioning its mainly subprime CitiFinancial consumer lending unit to grow—and thus to be sold more easily.

JPMorgan Chase reported a $3.3 billion profit for the first quarter Wednesday, even as its results were tempered by ongoing losses in consumer loan portfolios.

The bank beat Q4 estimates. Executives say credit statistics are improving.