Wells Fargo's $1B check; Yellen warns on debt ceiling; Republic First drama
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Wells Fargo's $1 billion settlement is one for the record books: The San Francisco bank agreed to a deal with its shareholders after allegedly making misleading statements about its progress in resolving regulatory problems. The agreement is the second-largest bank class-action settlement in history.
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Yellen pleads for Congress to raise debt ceiling, again: Treasury Secretary Janet Yellen defended the administration's systemic risk exception and said regulators will backstop small banks that pose contagion risk.
Fed's Barr defends push for regulatory reforms in House testimony: Michael Barr, the Federal Reserve's vice chair for supervision, fought back against criticisms by Republicans on the House Financial Services Committee that toughening capital requirements would be an overreaction to the recent banking crisis.
A year after shareholders' rebuke, JPMorgan rebuilds support for executive pay: Last year, just 31% of the bank's shareholders voted in favor of compensation packages for top executives. Support climbed to 89% this year after JPMorgan vowed not to make any more special one-time awards to Chairman and CEO Jamie Dimon.
Republic First delays capital raise as activist group revs up challenge: The Philadelphia bank's CEO says it will wait for a more favorable time to pursue a planned $125 million capital raise, while the leader of an activist group blasted the decision and announced the renewal of proxy and legal fights.
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