Banks

Goldman Sachs reported quarterly profits today, beating analyst expectations. As is often the case on Wall Street, the ups were no match for the downs — like heavy legal expenses and weak trading results. But the big news for the bank was that a successor has been named to replace storied Goldman CEO, Lloyd Blankfein, who […]

Wells Fargo has seen its share of bad headlines recently … from news it opened fake accounts, to a payout of $1 billion to settle claims of improper mortgage and auto lending practices. But there was a bright spot for the bank last week when it passed the Federal Reserve’s annual stress test, that measures […]

Today, the Federal Reserve is scheduled to take a step toward revising the Volcker rule. That’s the regulation, hated by the big banks, that limits risky trading practices. The Fed is one of five federal agencies that needs to weigh in on any changes. Click the audio player above to hear the full story. 

Only the biggest financial institutions will be required to hold extra cash reserves to counterbalance risk.

The House of Representatives Tuesday approved a bill that dials back some of the banking regulations put in place after the financial crisis. Among other things, it raises the threshold for which banks are considered to be big (“systemically important financial institutions,” as they are called). It also reduces some reporting requirements for banks regarding […]