Banks, Financial Institution | featured news

Shareholders of Citigroup rejected a board-approved pay package for CEO Vikram Pandit and other top executives, sending a loud and clear message that executive compensation needs to be tied to performance, or else.

Goldman Sachs Group Inc reported higher-than-expected quarterly earnings thanks to aggressive cost-cutting and strong investment banking and trading revenues, and the Wall Street bank raised its dividend.

Wells Fargo's profit jumped 13 percent in the first three months of the year, thanks to strong mortgage lending and a drop in delinquent loans, the bank said Friday.

The body that handles global banking transactions says it will cut Iran's banks out of the system on Saturday to enforce EU sanctions.

An executive resigning from the investment bank Goldman Sachs says other executives there referred to clients as "muppets." Greg Smith wrote a blistering essay about the company that was published Wednesday in The New York Times.

Government officials on Monday asked a federal judge to approve a landmark settlement with some of the nation’s largest banks over flawed and fraudulent foreclosure practices, more than a month after they announced the $26 billion deal with fanfare at the Justice Department.

The nation’s banks and credit unions had their best year since 2006, as a slowly recovering economy led to modest loan growth and lower levels of nonperforming loans.

Capital One Financial completed its $6.3 billion acquisition of ING Direct USA from ING Groep.

Bank of America made $2 billion in the last three months of last year, reversing a loss from a year earlier. It offset legal expenses over mortgages and losses in its investment...

Fourth-quarter profit at Wells Fargo rose 20% as the banking giant posted more loan growth and again reduced the amount of money it sets aside to cover potential loan losses.