Three of the nation’s biggest banks said Friday that their profits fall last quarter, as JPMorgan Chase, Bank of America and Citigroup deal with the lingering effects of higher interest rates and the industry costs of last year’s banking crisis that caused the collapse of Silicon Valley Bank and Signature Bank.
The nation’s biggest and most complex banks will need to hold additional capital on their balance sheets under an initial proposal by the Federal Reserve and FDIC.
All 23 of the nation’s biggest banks are healthy enough to withstand a sudden economic catastrophe, the Federal Reserve said Thursday.
The accelerating pace of progress in fighting climate change will likely mean increased scrutiny and supervision, from both investors and regulators, of the banking sector – which our findings show is far more exposed to climate risk than banks are disclosing.
Massachusetts’ senior senator is calling for greater regulation of banks in the wake of new revelations that megabanks have continued to profit from money laundering and other illicit dealings despite warnings from regulators.
