A downtown Boston office tower is reportedly set to be acquired by Boston-based developer Synergy for a steep discount from the previous transaction that took place just before the COVID-19 outbreak.
Boston’s One Congress office tower received $650 million in refinancing from Bank of America and Wells Fargo.
JPMorgan’s net income rose 9 percent in the first quarter and the New York bank beat Wall Street’s profit and revenue targets, but its chief executive warned of global economic uncertainties ahead due to tariff chaos.
JPMorgan’s net income soared 50 percent to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.
After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch.
JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.
Bristol County Savings Bank, based in Taunton, gave a $10,000 grant to the city-run Taunton Teen Empowerment Program, which runs personal development workshops for teens to learn life skills and build confidence. See who else gave back.
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.
Lawrence-based Merrimack Valley Credit Union donated $30,000 to Emmaus Inc. in Haverhill, a nonprofit that provides emergency shelter and affordable housing to families and individuals facing homelessness. See who else gave back
Bank of America must pay around $150 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without customer consent.
Several of America’s biggest banks say they’re setting aside hundreds of millions of dollars each to cover potential loan losses in the event of a recession this year.
Wells Fargo plans to reduce the size of its mortgage business, making changes that the bank said would see its home lending business focus on bank customers and minority communities.
Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle a laundry list of charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts.
Somerville-based Naveo Credit Union employees dressed up in costumes on Monday, October 31 and raised over $160 for The Leukemia & Lymphoma Society during their Costumed for a Cure event.
The coming months could see more job losses as lenders adjust to the new economic environment. But some Massachusetts lenders don’t see layoffs on their horizon thanks to decisions made when the refinance boom began two years ago.
A New York City-based investment firm has purchased a large luxury resort overlooking Pleasant Bay in Harwich.
Four big banks reported noticeable declines in their first-quarter profits Thursday, as the volatile markets and war in Ukraine caused deal-making to dry up while a slowdown in the housing market meant fewer people sought to get a new mortgage or refinance.
Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has helped reduce the number of loans in default or that the bank won’t likely recoup.
The Office of the Comptroller of the Currency has assessed a $250 million civil money penalty against Wells Fargo Bank and issued a new enforcement action with the bank for deficiencies in its home lending program.
Two weeks ago five of the nation’s largest banks did an about-face, asking shareholders to vote against proposals calling for third-party racial equity audits. But here’s the truth: What you don’t measure, you can’t manage.
