Banking

Kristin Lemkau, CEO of J.P. Morgan Wealth Management, discussed the launch of the company's Personal Advisors hybrid advisory channel and the challenges of managing and recruiting talent at American Banker's Most Powerful Women in Banking conference.

Rich clients who have seen their portfolios dented are pursuing loans.

Goldman Sachs Group's David Solomon is embarking on his third major reorganization in just four years as chief executive, undoing some of the signature moves he made as recently as 2020.

The financial advisory firm cited recent conversations with the Federal Deposit Insurance Corp., where the current leadership is widely seen as unwelcoming of efforts to open new ILCs.

The troubled bank is still worth more than investors now value it.

When President Biden unveiled his plan for student debt relief, borrowers had many questions about what they needed to do. Now, a month later, there are some answers.

After investment banking fees fell by 54% last quarter, the nation's largest bank by assets is considering cutting back. "Last year, we had to add a lot of bodies just to execute the huge amount of volume we were executing," Chief Operating Officer Daniel Pinto said Tuesday.

After the Office of the Comptroller of the Currency cracked down on a $2.8 billion-asset bank, industry observers expect more scrutiny of the ties between banks and financial technology startups.

Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.

Tax cheats have found a way to sidestep a 12-year-old U.S. law designed to crack down on offshore tax evasion.