Banco Popular de Puerto Rico

Regional bank shares slumped, dragging down the broader market, after Treasury Secretary Janet Yellen's comments and as Federal Reserve Chair Jerome Powell said he's prepared to keep raising rates until inflation shows signs of cooling.

Treasury Secretary Janet Yellen repeated her comment from a day earlier that the government's recent actions were "taken to ensure that Americans' deposits are safe." She sought to clarify it with a new line: "Certainly, we would be prepared to take additional actions if warranted."

Once primarily an issue for Democrats, GOP gains in New York have made the deduction an issue for them, too.

Unrealized losses on the company's balance sheet ballooned to more than $29 billion last year. At the same time, higher interest rates are encouraging customers to move their cash out of certain accounts that underpin Schwab's business.

Some millionaires and billionaires who have accounts with the bank are making backup plans for their account and loans.

Bank of America is rewarding almost all of its employees with a pool of $1 billion in restricted stock, further boosting compensation as financial firms compete to attract and retain workers.

IRS investigators say the frauds including money laundering, market manipulation and tax evasion — and even celebrities could get caught up in the agency’s probes.

There may be a silver lining for crypto investors selling at huge losses during the recent market turmoil.

Solomon jumped alongside Morgan Stanley’s James Gorman as the best-paid CEO at a major U.S. bank, followed closely by Jamie Dimon at JPMorgan Chase.

Deutsche Bank promoted Charlie Burrows to oversee the expansion of the bank’s wealth management unit across the southeastern U.S., as the German lender builds out its business of catering to the ultrarich.