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Jenny Surane

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Citi warns trading revenue to decline, BofA is ‘doing OK’

NEW YORK – Citigroup Inc. trading revenue is set to drop this quarter amid volatility that gripped markets for most of August, while a...
BANK OF AMERICA CEO Brian Moynihan said that recession risks are low in the U.S. as consumer spending remains strong but noted that fear of a recession could impact the economy. / BLOOMBERG NEWS/SIMON DAWSON

BofA’s CEO says the biggest recession risk is the fear of...

NEW YORK – Bank of America Corp. CEO Brian Moynihan said this week’s bond-market turmoil has been driven by issues outside the United States,...
BANK OF AMERICA will end a payments joint venture with First Data Corp. next June. / BLOOMBERG NEWS FILE PHOTO/JIN LEE

BofA to end payments joint venture with First Data next June

NEW YORK – Bank of America Corp. said it will end a payments joint venture with First Data Corp. next June when a contract...
CAPITAL ONE announced Monday that 100 million people in the U.S. had been impacted by a data breach, and another 6 million in Canada. / BLOOMBERG NEWS FILE PHOTO/SARAH BLESENER

Tipster’s email led to arrest in massive Capital One data breach

NEW YORK – Capital One Financial Corp. set up an email address for tipsters - including "white hat" hackers - to alert the company...
VISA AND MASTERCARD have agreed to pay as much as $6.2 billion to end a long-running price-fixing class-action case brought by merchants over card fees. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Visa, Mastercard reach $6.2B settlement on swipe fees

NEW YORK - Visa Inc. and Mastercard Inc. agreed to pay as much as $6.2 billion to end a long-running price-fixing case brought by merchants...
THE SUPREME COURT may have ruled that states can allow betting on individual sporting events, but many gamblers who will want to place those wagers using a credit card face a major hurdle: a large share of U.S. credit card companies don't allow it. / BLOOMBERG/ JUSTIN CHIN

Sports gambling’s next hurdle is credit cards after court ruling

NEW YORK - For states ready to legalize gambling, banks hold many of the cards.The Supreme Court ruled this week that states can allow...
AMAZON.COM INC., already a lender to small businesses, is now in early discussions to create a product for retail customers similar to checking accounts. / BLOOMBERG FILE PHOTO/JIM YOUNG

Amazon checking-account threat puts regional banks on defensive

NEW YORK - America’s regional banks are preparing to defend their turf.Amazon.com Inc., already a lender to small businesses, is now in early discussions to...

Bank of America to add 300 advisers in expansion of Merrill...

NEW YORK - Bank of America Corp. plans to hire 300 financial advisers by year-end to help expand its Merrill Edge investing business.The lender will...
A $3.4 MILLION LOAN from so-called "Lender B" in the indictment matches one that Manafort took from Providence-based Citizens Bank, according to public records. / BLOOMBERG FILE PHOTO/KELVIN MA

Citizens falls as Manafort indictment presents regulatory risk

NEW YORK - Citizens Financial Group Inc. dropped as much as 5.6 percent after it was tied to a loan described in U.S. Special...
BANK OF AMERICA has applied for or received at least 43 patents for blockchain. / BLOOMBERG FILE PHOTO/RON ANTONELLI/GETTY IMAGES

BofA tops IBM and payments firms with most blockchain patents

NEW YORK -  Bank of America Corp. may not be willing to help customers invest in bitcoin, but that doesn’t mean it isn’t plowing into...
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