The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan Chase & Co., Citigroup, Wells Fargo and Bank of America are expected to report a combined $5.3 billion in net...
The top brass of the country’s seven biggest financial institutions faced lawmakers in a second meeting on Capitol Hill about accountability, consumer protection, and compliance, with private peer-to-peer payment network Zelle emerging as a hot-button issue. Zelle has been in the hot seat over authorized...
October 19, 2023
Fitness company Peloton is grappling with a decline in engagement, leading to a shrinking user base. The trend has prompted Bank of America to downgrade Peloton’s rating to “underperform” due to concerns about the company’s subscriber results, Bloomberg reported Thursday (Oct. 19). The downgrade led to a 0.2% fall in Peloton’s share price after declining as much as 5.6%, according […]
October 11, 2023
The largest U.S. banks are reportedly bracing themselves for a surge in bad debt write-offs, the highest since the early days of the pandemic. JPMorgan Chase & Co., Citigroup, Wells...
September 23, 2022
The top brass of the country’s seven biggest financial institutions faced lawmakers in a second meeting on Capitol Hill about accountability, consumer protection, and compliance, with private peer-to-peer payment network...
