Co-founders Eddie Kim, Josh Reeves, and Tomer London of fintech startup Gusto, which handles payroll services for small businesses. Courtesy: Kelly Boynton | Gusto JPMorgan Chase is stepping up its appeal to small business customers by planning to offer digital payroll processing, CNBC has learned. The bank has picked San Francisco-based fintech player Gusto to …
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Thursday, Oct. 13, 2022. Ting Shen | Bloomberg | Getty Images JPMorgan Chase CEO Jamie Dimon warned that although the U.S. economy is currently performing well, it …
The upcoming wave of technology initial public offerings (IPOs) has the potential to revitalize sluggish capital markets, according to Goldman Sachs’ CEO, David Solomon, in an exclusive interview with CNBC’s David Faber. Solomon mentioned that companies considering going public, such as chip designer Arm and grocery delivery service Instacart, will closely monitor the performance of …
U.S. banking regulators have revealed their plans to mandate regional banks to issue debt in order to safeguard depositors in the event of bank failures. This new requirement will apply to American banks with assets of at least $100 billion. The regulators, including the Treasury Department, Office of the Comptroller of the Currency, Federal Reserve, …
Goldman Sachs has made an announcement on Monday regarding the sale of its personal financial management unit to Creative Planning, a competitor in the industry. The transaction is set to close within the fourth quarter of this year, providing a gain for Goldman Sachs. The specific sale price for the personal financial management business was …
A sign for the financial agency Fitch Ratings on a building at the Canary Wharf business and shopping district in London, U.K., on Thursday, March 1, 2012. Matt Lloyd | Bloomberg | Getty Images A warning from a Fitch Ratings analyst indicates that the U.S. banking industry is approaching the risk of widespread rating downgrades, …
Former Goldman Sachs CEO Lloyd Blankfein denies a news report claiming he offered to return to the company after stepping down. In a conversation with CNBC, Blankfein stated that The New York Times misquoted him in their article, where they alleged that he expressed impatience with the firm’s progress and offered to help in their …
The recent downgrades and warnings from Moody’s ratings on multiple U.S. banks indicate that the industry is still facing challenges following the collapse of Silicon Valley Bank. Despite the stabilization of deposit levels during the second quarter after the regional banking crisis in March, small and midsized banks are now dealing with the issue of …
During the Securities Industry and Financial Markets Association annual meeting in Washington, D.C. on October 24, 2017, John Rogers gave an interview where he shared his insights. According to an employee memo from Goldman Sachs CEO David Solomon, Rogers, a prominent executive in Goldman Sachs, will be stepping back from some of his responsibilities next …
U.S. regulators have levied a total of $549 million in penalties against Wells Fargo and several other firms for their failure to preserve electronic records of employee communications. The Securities and Exchange Commission (SEC) charged 11 firms with “widespread and longstanding failures” in record-keeping, resulting in $289 million in fines. Additionally, the Commodity Futures Trading …