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The Latest Breaking News on Financial Services

Lawsuits against banks with Epstein ties may shed new light on financier’s crimes

Experts say claim banks enabled Epstein will be difficult to prove but other outcomes could provide solace to victims

The Guardian - US

JPMorgan Chase wants out of paying $115M legal tab for convicted fraudsters

JPMorgan Chase wants to stop paying millions in legal fees for two convicted fraudsters

The Independent UK

Massive fine for home loan compliance failures

Defunct home lender RAMS has been fined $20 million by the Federal Court after admitting to widespread misconduct over a four-year period.

AAP

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NatWest boss warns against higher bank taxes as lender’s profits rise 30%

CEO says fiscal discipline should be balanced with ‘policies that create stability, consistency and support growth’

The Guardian - UK

Bank of England finance chief Afua Kyei tops list of influential black Britons

Kyei leads Powerlist showcasing black role models across business, science, technology and the arts

The Guardian - UK

Alpha Buying: Regional Banks Aren't Breaking — They're Buying

Every time the market starts whispering “banking crisis,” you can count on 2 things: the instant experts will dust off their 2008 headlines, and a few insiders will quietly step in to buy. What we’re seeing today across the regional banking sector isn’t systemic. It’s the fallout from a few…

Benzinga

Lloyds profits plunge 36% as it feels impact of UK car finance scandal

Bank’s drop in quarterly earnings comes after it put aside further £800m to cover expected wave of driver claims

The Guardian - UK

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Barclays can afford Tricolor loss but risks remain in the private credit market

Risky lending in an opaque, complex and leveraged part of the financial world is ringing alarm bells

The Guardian - UK

Barclays plays down £20bn exposure to private credit industry

CEO says bank has ‘right controls’ in place despite warnings about industry from IMF and Bank of England

The Guardian - UK

New JPMorgan Skyscraper Underlines Manhattan Office Comeback

JPMorgan Chase officially inaugurated its new Manhattan tower Tuesday, a 60-story skyscraper that also marks a kind of comeback of office working after the pandemic years.

International Business Times

Connecticut's Utility Overhaul Creates Tailwinds For Eversource Stock: Analyst

Eversource Energy (NYSE:ES), one of the largest utility providers in the Northeastern U.S., is positioned for steadier growth as its regulatory environment shows signs of improvement.

Benzinga

Regional Bank Scare Was A Fluke, Zions Says—But Is The Sector Really Safe?

After last week's $60 million credit charge-off sent Zions Bancorporation (NASDAQ:ZION) tumbling 13% in a single day, the Utah-based lender is now telling investors to relax.

Benzinga

JPMorgan Chase unveils new 60-story headquarters, reshaping New York City's skyline

JPMorgan Chase is unveiling its new 60-story headquarters in New York City

The Independent UK

Bank of England chief warns of ‘worrying echoes’ of 2008 financial crisis

Andrew Bailey says a close look is needed at the private credit market after collapse of two big US firms

The Guardian - UK

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Benzinga

Options Corner: KeyCorp Got Caught In The Regional Bank Credit Scare But The Quants Still Love It

While regional banks like KeyCorp (NYSE:KEY) enjoyed a strong outing during the spring and summer seasons, sentiment started to wane just prior to fall. More recently, KEY stock got caught out amid the wave of volatility that struck the financial subsector. Notably, the SPDR SP Regional Banking ETF (NYSE:KRE) logged…

The Guardian - AU

As ANZ duped customers and ignored hardship notices, the bank’s bosses raked in $26m in bonuses

The bonuses – awarded during the bank’s three years of misconduct – have been condemned as ‘indefensible’ and ‘tone-deaf’, especially given recent job cuts

International Business Times

Shares In French Bank BNP Paribas Plummet After US Verdict

Shares in France's biggest bank, BNP Paribas, sank more than seven percent in trading on Monday, following a US court verdict late last week finding it liable for atrocities committed in Sudan.

Radio France Internationale

BNP Paribas found liable for atrocities in Sudan under Bashir regime

A US jury has held French bank BNP Paribas responsible for helping to sustain Sudan’s brutal regime under deposed leader Omar al-Bashir, awarding damages to victims of its atrocities.

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news in one place.

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The Guardian - AU

Australian banks ignore thousands of customers’ hardship requests

Exclusive: Automated systems have generated ‘cookie cutter’ responses that fail to account for individual circumstances, financial ombudsman says

The Independent UK

US jury issues $20M verdict against French bank BNP Paribas over Sudanese atrocities

A federal jury in New York says France's largest bank must pay $21 million for giving the Sudanese government access to the U.S. financial system during a time when the government was engaged in atrocities

The Guardian - UK

What is private credit, and should we be worried by the collapse of US firms?

First Brands and Tricolor failures raise concerns for wider financial sector, including traditional banks

Benzinga

Why Everyone's Suddenly Watching Regional Banks Again

Regional bank stocks rebounded Friday, clawing back part of the previous day's steep losses as a round of better-than-expected earnings helped ease—but not erase—credit fears that had roiled the sector.

The Independent UK

Regional banks' bad loans spark concerns on Wall Street

Wall Street is concerned about the health of the nation’s regional banks, after a few of them wrote off bad loans to commercial customers in the last two weeks

Benzinga

Is Crisis Brewing Again? Regional Bank ETF Flashes Red As Shutdown Reaches Week 3

Following a temporary lull, the regional bank storm has returned. On Oct. 16, the SPDR SP Regional Banking ETF (NYSE:KRE) tumbled 6.2%, its biggest one-day decline since early 2023.

The Guardian - UK

Bank shares lead global market fall amid jitters over US private credit

Signs of credit stress send markets in Europe and Asia down, while investors turn to safe haven assets

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