Banking

Federal Reserve Chair Janet Yellen said the Fed is prepared to take action against Wells Fargo but won’t say when. For its part, Wells Fargo said it’s committed to making things right for its customers and is eliminating sales goals for retail bankers in its branches and call centers.  

Under consideration in the House of Representatives today: a big Republican platform item. Specifically, the rollback of Dodd-Frank financial regulations. This comes in the form of a bill called the Financial Choice Act. Here’s what’s in the bill and what could become law. Click the audio player above to hear the full story.

Some of the nation’s biggest banks, JPMorgan Chase, Bank of America and Citigroup, are warning that trading revenue in the second quarter will be down at least 10 percent compared to a year ago. Goldman Sachs also flagged a drop in trading revenue. One of the reasons they’re pointing to? A lack of market volatility. That may […]

Ever since the world economy broke in 2008, policymakers have looked for ways to keep it from breaking again. But there’s another important lesson to learn: how to put it back together. Yale University is creating a tool to offer real-time guidance to central bankers and others while they deal with a financial crisis.  Click […]