Emily Flitter
Posts
US Virgin Islands Sues JPMorgan Over Jeffrey Epstein Sex Trafficking Scheme
A lawsuit says the bank helped conceal the exploitation of women and girls by the convicted sex offender Jeffrey Epstein.
Wells Fargo Fined $1.7 Billion Over Consumer Banking Violations
The Consumer Financial Protection Bureau cited improper overdraft fees, account freezes, auto repossessions and misapplied home loan payments that have harmed millions of consumers since...
New Suit Uses Data to Back Racial Bias Claims Against State Farm
Black customers have long claimed that the nation’s largest home insurer discriminates against them. A lawsuit claims a nine-month study provides some proof.
Where $30 Billion to Fix Systemic Racism Actually Goes
In 2020, JPMorgan pledged to invest significant resources in closing the racial wealth gap. Here is what the bank did, and what it looks like...
Goldman Sachs Restructures Its Divisions, Elevating Tech Offerings
The bank will combine trading and investment banking into one unit, asset management, wealth management and consumer businesses into another, and its digital offerings in...
Bank of America’s Latest Earnings Suggest U.S. Consumers Remain Strong and Active
Loan and deposit growth at the nation’s second-largest bank suggest that a possible global economic slowdown has not yet hurt many Americans.
JPMorgan’s Profit Shrinks, but Chief Says U.S. Customers Are ‘Healthy’
The bank earned $9.7 billion in the third quarter, down from last year. It also added to reserves against loan losses and took a hit...
Banks Accuse Consumer Regulator of Abuse of Power
Several banking trade groups have sued the Consumer Financial Protection Bureau, claiming it has exceeded its authority with anti-discrimination enforcement.
There’s a New Cop on the Banking Beat: Chief Climate Risk Officer
The Office of the Comptroller of the Currency, which oversees big banks, hired a chemical engineer to review the risks climate change poses to banks.