Citi, Falling Behind Peers, Unveils ‘Uncomfortable’ Changes and Layoffs
The bank’s chief executive, Jane Fraser, said the lender had grown bloated and needlessly bureaucratic.
Posted inBanking and Financial Institutions Black People Consumer Financial Protection Bureau Decisions and Verdicts Discrimination Federal-State Relations (US) Minorities Race and Ethnicity Regulation and Deregulation of Industry Texas
Federal Court Says Consumer Watchdog Can’t Check Banks for Discrimination
A Texas judge’s sweeping ruling says the Consumer Financial Protection Bureau exceeded its authority in trying to examine banks for uneven treatment.
Posted inBanking and Financial Institutions Company Reports Credit Suisse Group AG Mergers, Acquisitions and Divestitures Records and Achievements Switzerland UBS AG
UBS Reports $29 Billion Profit, a Record
The huge gain stems from the bank’s acquisition of its rival Credit Suisse this spring for about $3.2 billion, a steep discount that is skewing its quarterly results.
Posted inBanking and Financial Institutions Credit Suisse Group AG internal-storyline-no Mergers, Acquisitions and Divestitures UBS AG
UBS Earns $29 Billion From Badwill Tied to Credit Suisse Deal
The Swiss bank’s sharply discounted takeover of Credit Suisse led to a paper gain that gave it the biggest quarterly profit by a bank in history.