US BANCORP (USB)       40.96  -0.1 (-0.24%)

40.96  -0.1 (-0.24%)

US9029733048 - Common Stock - Premarket: 40.82 -0.14 (-0.34%)

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20 hours ago - Yahoo Finance

Superyacht linked to sanctioned Russian sold for $37.5m in Gibraltar - court

A superyacht linked to a sanctioned Russian businessman fetched $37.5 million at auction in Gibraltar last month after it was sold at the behest of creditor JP Morgan, a court has confirmed, in the first sale of its kind since Russia invaded Ukraine. The 72.5-metre Axioma was impounded by the Gibraltar authorities in March after U.S. bank said its alleged owner, a company that was owned by Dmitry Pumpyansky, had reneged on the terms of a 20.5 million euro loan. The Office of Admiralty Marshal, the branch of Gibraltar's Supreme Court mandated with conducting the sale in August, said an unidentified buyer had been selected.

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a day ago - CNBC

Crypto lender Nexo gets U.S. bank charter after buying stake in regulated bank

Nexo's bank license will bring users enhanced legal safeguards and help it expand its footprint in the U.S., the company said.

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a day ago - Bloomberg

JPMorgan Strengthens Dining Push With New DoorDash Credit Card

JPMorgan Chase & Co. is launching a credit card with DoorDash Inc., the latest addition to the biggest US bank’s ever-growing group of co-brand deals with a pandemic favorite that has continued to gain against rivals.

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a day ago - Bloomberg

Citigroup Appoints Carson to Manage Russia as Separate Entity

Citigroup Inc. appointed Grant Carson to manage its operations in Russia as a stand-alone entity as the U.S. bank reduces its business in the country following President Vladimir Putin’s invasion of Ukraine.

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6 days ago - Barron's

Lots of People Have Credit Problems. How Advisors Can Help.

Advisors can play an important role in helping clients solve debt problems and improve their credit scores.

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6 days ago - Barron's

Lawmakers Grill the Big Banks on Zelle, Interest Rates, and Overdraft Fees

Congress had some tough questions for the CEOs of the seven largest banks. Here's what consumers should know.

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6 days ago - Yahoo Finance

Senior Republican chastises banks for social agenda that 'harms America'

The heads of the nation's largest banks faced pointed criticism from a top Republican Thursday, as he chastised firms for "embracing a liberal ESG agenda that harms America." Senator Pat Toomey, the senior Republican on the Senate Banking Committee, urged banks to "cease and desist" from weighing in on social and cultural issues as chief executives appeared before Congress for an oversight hearing. Toomey, who frequently backs industry calls for lighter regulations, argued firms are out of bounds when they weigh in on non-banking issues like guns and abortion.

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6 days ago - The Australian Financial Review

US bank chiefs commit to China exit if Taiwan is attacked

The chief executives of the three largest US banks by assets made the commitments at a hearing of the committee on financial services at the House of Representatives.

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7 days ago - UPI

Bank CEOs warn U.S. lawmakers of 'tough times ahead' in inflation fight

Top U.S. bank executives warned lawmakers to be prepared for "tough times ahead" in the fight against inflation during a House Financial Services Committee hearing.

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7 days ago - Reuters

U.S. bank CEOs set for congressional grilling by Democrats and Republicans

The chief executives of JPMorgan, Bank of America, Citigroup, Wells Fargo and other major U.S. banks are set to be grilled by both Democratic and Republican lawmakers on Wednesday on the economy, consumer protections and the lenders' stance on fossil fuel lending and firearms, among other issues.

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8 days ago - Yahoo Finance

Factbox-Meet the big bank CEOs set to be grilled by Congress

U.S. legislators will grill the bosses of the biggest U.S. consumer banks in Congress on Wednesday and Thursday on a slew of topics from the state of the economy to hot-button issues including abortion and climate. Jamie Dimon, the outspoken leader of the largest U.S. bank, is expected to defend the industry and field tricky questions after sparring with lawmakers in past hearings. Last year, he had a contentious exchange with Senator Elizabeth Warren over Chase’s overdraft fees.

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8 days ago - Yahoo Finance

JPMorgan CEO Dimon to warn Congress of economic 'storm clouds' -testimony

JPMorgan Chase & Co Chief Executive Jamie Dimon plans to tell Congress that the U.S. economy faces "storm clouds," according to prepared testimony. Dimon, who is due to testify alongside major U.S. bank CEOs at congressional hearings Wednesday and Thursday, will outline the competing forces buffeting the nation's economy. Strong consumer spending and a robust job market suggest resilience, but snarled supply chains, the war in Ukraine, high inflation and the Federal Reserve's efforts to contain it all signal tougher times ahead, he added.

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9 days ago - BusinessInsider

First Horizon Corporation Announces Revised Release Date of October 18, 2022 for Third Quarter Results

MEMPHIS, Tenn., Sept. 19, 2022 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN) announced today that it plans to release third quarter financ...

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9 days ago - Bloomberg

Morgan Stanley Southeast Asia M&A Head Pflug to Join Raine, Sources Say

Jonathan Pflug, head of Southeast Asia mergers and acquisitions at Morgan Stanley, will be leaving the US bank to join Raine Group as the boutique adviser launches its Singapore office, according to people with knowledge of the matter.

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9 days ago - Reuters

Big U.S. bank CEOs to be grilled by Congress on consumer, social issues

The chief executives of JPMorgan , Bank of America , Citigroup , Wells Fargo and other major U.S. retail banks will be grilled this week by lawmakers on a slew of issues, from the state of the economy to their stances on hot-button issues including abortion and fossil-fuel lending.

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9 days ago - Yahoo Finance

Big U.S. bank CEOs to be grilled by Congress on consumer, social issues

The chief executives of JPMorgan, Bank of America, Citigroup, Wells Fargo and other major U.S. retail banks will be grilled this week by lawmakers on a slew of issues, from the state of the economy to their stances on hot-button issues including abortion and fossil-fuel lending. Payments fraud, boosting diversity, mergers and access to bank branches, are also expected to feature when the CEOs appear before the House Financial Services Committee and Senate Banking Committees on Wednesday and Thursday, respectively, according bank officials, congressional aides and lobbyists. The line-up includes the CEOs of the four largest U.S. banks: JPMorgan's Jamie Dimon, Bank of America's Brian Moynihan, Citi's Jane Fraser and Wells Fargo's Charles Scharf.

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10 days ago - Reuters

U.S. bank regulators consider new rules for regional banks in times of crisis

A group of bank regulators appointed by U.S President Joe Biden is considering new rules which will require big regional banks to add financial cushions that can be used in times of crisis, the Wall Street Journal reported on Sunday.

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12 days ago - Yahoo Finance

U.S. SEC's crypto guidelines push up costs for lenders, disrupting projects

Banks' cryptocurrency projects have been upended by U.S. Securities and Exchange Commission (SEC) accounting guidance that would make it too capital-intensive for lenders to hold crypto tokens on behalf of clients, according to more than half a dozen people with knowledge of the matter. A slew of lenders including U.S. Bancorp, Goldman Sachs Group Inc, JPMorgan Chase & Co, BNY Mellon, Wells Fargo & Co, Deutsche Bank, BNP Paribas and State Street Corp offer or are working on crypto products and services for clients in a bid to tap in to the $1 trillion crypto market, according to their public statements and media reports.

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12 days ago - Yahoo Finance

FOCUS-U.S. SEC's crypto guidelines push up costs for lenders, disrupting projects

Banks' cryptocurrency projects have been upended by U.S. Securities and Exchange Commission (SEC) accounting guidance that would make it too capital-intensive for lenders to hold crypto tokens on behalf of clients, according to more than half a dozen people with knowledge of the matter. A slew of lenders including U.S. Bancorp, Goldman Sachs Group Inc, JPMorgan Chase & Co, BNY Mellon , Wells Fargo & Co, Deutsche Bank, BNP Paribas and State Street Corp offer or are working on crypto products and services for clients in a bid to tap in to the $1 trillion crypto market, according to their public statements and media reports.

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14 days ago - Yahoo Finance

Citibanamex sale will include split into Banamex, Citi Mexico -country head

Citigroup's residual wholesale Mexico business will be known as Citi Mexico after the sale of its retail unit, which will operate under the name Banco Nacional de Mexico (Banamex), the country chief of the U.S. bank said on Wednesday. Asked if Citi had ruled out the option of buying another wholesale operation in the country in order to use its license, Romo said the bank was "analyzing all alternatives."

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15 days ago - Yahoo Finance

UPDATE 1-Wells Fargo CFO says there will be stress as economy slows

Wells Fargo & Co is seeing loan growth moderating after strong growth so far this year and witnessing downward pressure on mortgage revenue as consumers feel the effect of higher interest rates, its chief financial officer said on Tuesday. His comments came after the chief financial officer of U.S. Bancorp said at the same conference on Monday that he expects a 30% to 35% drop in mortgage revenue in the third quarter from the second quarter as the housing market slows. "The Fed is tightening a little bit more than what we were expecting," said PNC Financial Services Group Chief Financial Officer Robert Reilly.

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15 days ago - Yahoo Finance

U.S. banks' key performance metric set to turn around in second half

Wall Street banks look set to report better efficiency ratios in the second half of the year, a key metric that deteriorated as global economic gloom sapped income from traditional profit centers and costs surged amid a battle for talent, analysts say. "Our current projections assume a modest improvement in the banking industry’s efficiency ratio from just under 58% in 2021 to just under 57% in 2022," said Christopher McGratty, Head of U.S. Bank Research at KBW, a Stifel company. The expectation of a marginal recovery in the profit metric foreshadows an uptick in overall revenue growth.

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16 days ago - Market News Video

USB January 2025 Options Begin Trading

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16 days ago - Yahoo Finance

U.S. Bancorp expects mortgages to be down 30%-35% in Q3 vs Q2

U.S. Bancorp expects a 30% to 35% drop in mortgage revenue in the third-quarter from the second quarter as the housing market slows, its chief financial officer said on Monday. "The one area that I would say that we're seeing a little bit of pressure is just in the mortgage banking business," Terry Dolan told a Barclays investor conference.

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16 days ago - Reuters

U.S. Bancorp expects mortgages to be down 30%-35% in Q3 vs Q2

U.S. Bancorp expects a 30% to 35% drop in mortgage revenue in the third-quarter from the second quarter as the housing market slows, its chief financial officer said on Monday.

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16 days ago - Yahoo Finance

UPDATE 1-Wells Fargo to pay over $13 mln penalty to resolve 401(k) review

Wells Fargo & Co said on Monday it would pay a penalty of $13.2 million as part of a settlement with the U.S Department of Labor to resolve the federal agency's review of certain transactions related to the bank's 401(k) retirement plans. WFC gives its employees some of its preferred stock under a retirement package offered to them. The DoL alleged that from 2013 through 2018, the funds under the plan paid more for the preferred stock than what it was worth.

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19 days ago - Investopedia

Bank Profits Rise Despite Headwinds

U.S. bank profits climbed 7.8% in the second quarter of 2022 from the previous quarter, according to the Federal Deposit Insurance Corporation (FDIC).