Major US Bank To Pay $135,600,000 Fine Over Perpetual Problems With Risk Management, Compliance, Data and Internal Controls

July 21, 2024 The Daily Hodl

bank

US banking giant Citigroup will shell out $135.6 million to regulators for failing to fix longstanding issues with the bank’s risk management, compliance, data handling and internal controls. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) have imposed the collective fine for failing to address deficiencies flagged in two enforcement […]

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Bank of America, Citigroup and Goldman Sachs Report $4,139,000,000 in Losses As US Lenders Witness Major Spike in Unrecoverable Debt

July 20, 2024 The Daily Hodl

bank

Bank of America, Citigroup and Goldman Sachs are reporting $4.139 billion in losses as lenders write off mounting debts that customers can’t honor. In its latest earnings report, Citigroup says its net credit losses, which are debts that the firm does not expect to collect, hit $2.28 billion in Q2 of this year. The figure represents […]

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US Banks Dumping Exposure To $2,500,000,000,000 Market Before ‘Inevitable Losses’ Hammer Balance Sheets: Report

June 30, 2024 The Daily Hodl

Banks

Some of the biggest banks in America are quietly selling their exposure to a troubled sector of the US economy, according to a new report. The banks are beginning to dump commercial real estate loans in a push to “cut their losses,” reports the New York Times. The Times points to Goldman Sachs and Citigroup, […]

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Big Banks Would Survive $685,000,000,000 Financial Disaster Despite Lenders’ Riskier Balance Sheets: Federal Reserve

June 27, 2024 The Daily Hodl

bank

A year after three of the largest bank failures in US history, the Federal Reserve says America’s banking giants have enough capital to survive a “highly stressful scenario.” In its yearly stress test, the Fed says 31 of the nation’s largest banks survived a simulation slamming the lenders with about $685 billion in credit card, […]

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JPMorgan Chase, Bank of America and Citibank Flagged for Holding Trillions of Dollars in Derivatives Without Proper Contingency Plans

June 22, 2024 The Daily Hodl

bank

US regulators are flagging JPMorgan Chase, Bank of America, Citibank and Goldman Sachs over the banks’ contingency plans for trillions of dollars in derivatives. The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) say the lenders’ so-called “living wills” – which in part detail how banks could safely unwind their derivatives portfolios without requiring government […]

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Federal Watchdogs Flag 4 Major US Banks for Lack of Crisis Management; Demand Living Will Revisions

June 22, 2024 Bitcoin.com

Bank of America

Federal authorities have spotlighted critical deficiencies in the crisis management strategies—known as “living wills”—of four major U.S. banks, signaling a push for stronger safeguards against financial turmoil. The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve announced that plans from Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase fell short of expectations, setting […]

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$38,400,000,000 in Deposit Flight Hits Wells Fargo and Citigroup in One Year As JPMorgan Chase CEO Issues Warning To Federal Reserve

April 20, 2024 The Daily Hodl

bank

New numbers show two of the largest banks in the US are witnessing billions of dollars in deposit flight. Quarterly earnings data shows Citigroup’s deposits dropped from $1.3305 trillion in Q1 of 2023 to $1.3072 trillion in Q1 of this year – a reduction of $23.3 billion in a span of 12 months. Meanwhile, deposits […]

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Barclays, Citi, Mastercard and Visa Joining UK Pilot for Tokenized Deposits Testing: Report

April 17, 2024 The Daily Hodl

Banks

Leading banks and credit card giants are reportedly now participating in a tokenized deposits pilot project launched by industry body UK Finance. According to a new report by Bloomberg, companies that include Barclays, Citigroup, Mastercard and Visa are teaming up for the effort. The project aims to create a commercial banking system for tokenized deposits […]

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JPMorgan Chase, Bank of America and Six Financial Giants Pay $70,000,000 Settlement Over Allegations of ‘Widespread Fraud and Collusion’

March 23, 2024 The Daily Hodl

Bank of America

Eight financial giants are shelling out tens of millions of dollars to settle a decade-long whistleblower lawsuit. JPMorgan Chase, Bank of America, Citigroup, Morgan Stanley, Fifth Third Bancorp, Barclays, Bank of Montreal (BMO) and William Blair were sued in 2014, accused of reaping millions in illicit profits by rigging interest rates on municipal bonds. The […]

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JPMorgan Chase, Bank of America, Wells Fargo and Citigroup Risk Losing $24,400,000,000 As Number of Troubled Loans Erupt: Report

January 14, 2024 The Daily Hodl

Bank of America

Optimism in the US banking industry is being threatened by a growing pile of bad loans, putting pressure on the sector’s biggest players. Bloomberg analysts say non-performing loans, or loans to debtors that haven’t made a payment in over 90 days, rose to a combined $24.4 billion in the last quarter of 2023 for JPMorgan […]

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CitiGroup