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When JPMorgan Chase bought First Republic Bank in May, all eyes were on its CEO, Jamie Dimon. Here’s how the executive’s strategy for managing risk propelled him to the top of the banking world. Photo illustration: John McColganAmerican consumers and businesses remained on surprisingly solid financial footing last year, propelling earnings for the biggest banks yet again. JPMorgan Chase said it made $50 billion in 2023, a record, as many firms reported fourth-quarter and full-year results Friday. JPMorgan, Bank of America , Wells Fargo and Citigroup together earned $104 billion in 2023, up 11% from a year earlier.

Persons: JPMorgan Chase, Jamie Dimon, John Organizations: JPMorgan, First Republic Bank, Bank of America, Citigroup Locations: Wells Fargo

☆ Workers at Two Wells Fargo Branches Say They Will Vote on Whether to Form a Union
▼ + stars: | 2023-11-20 | by ( Ben Eisen | Photographs Adria Malcolm For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Workers at two Wells Fargo bank branches are planning to launch unionization efforts Monday, shifting the attention of the resurgent labor movement to an industry that has historically been cool to it. Employees in Albuquerque, N.M., and Bethel, Alaska, said they would notify the National Labor Relations Board that they plan to hold elections to decide whether to unionize. If they get enough votes, they could start the first union at a major bank in decades.

Organizations: Employees, National Labor Relations Board Locations: Wells Fargo, Albuquerque, N.M, Bethel , Alaska

☆ Regulators Say Wells Fargo Isn’t Doing Enough to Police Customer Crimes
▼ + stars: | 2023-11-16 | by ( Ben Eisen | Ben Foldy | ) www.wsj.com time to read: 1 min

Wells Fargo is struggling with its regulatory obligation to monitor financial crime, the latest challenge in the bank’s yearslong effort to recover from a series of scandals. Regulators have issued the bank formal orders to be better at catching criminals who may be using its accounts or products, according to people with knowledge of the matter. At the same time, the bank is facing a lawsuit claiming it allowed an alleged $490 million Ponzi scheme to operate.

Persons: Wells Organizations: Regulators

☆ America’s Mortgage King Also Wants an NBA Crown—Right Now
▼ + stars: | 2023-11-16 | by ( Ben Eisen | Robert O Connell | ) www.wsj.com time to read: 1 min

When the Phoenix Suns played the Detroit Pistons early this month, Mat Ishbia ’s fingerprints were everywhere. He bought the Suns in February, tapping into the fortune he made in the mortgage business. And his lending company, UWM Holdings , sponsors the Pistons, with its logo appearing on their jerseys.

Persons: Mat Ishbia Organizations: Phoenix Suns, Detroit Pistons, Suns, UWM Holdings, Pistons

David Siegel went to work for an affiliate of Guaranteed Rate in 2021 and got a signing bonus of more than $100,000. Interest rates were super low, and mortgage bankers were raking in cash. Now that business has dried up, the mortgage company wants its money back. He said it fired him one month shy of the date when it could no longer ask for the bonus back, then demanded the money. Guaranteed Rate and its affiliates are also telling hundreds of other former employees that they have to return their signing bonuses, people familiar with the matter said.

Persons: David Siegel

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Persons: Dow Jones

☆ Are High Rates Taking a Toll on Consumers? Bank Earnings Will Provide a Clue
▼ + stars: | 2023-10-12 | by ( Ben Eisen | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Greg Beckett’s Life Seemed to Be Going Well. Then He Ended It at Work.
▼ + stars: | 2023-09-30 | by ( Ben Eisen | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, greg

☆ Former Wells Fargo Executive Might Face Prison Time in Fake Accounts Scandal
▼ + stars: | 2023-09-15 | by ( Ben Eisen | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Former Wells Fargo Executive Avoids Prison Time in Fake-Accounts Scandal
▼ + stars: | 2023-09-15 | by ( Alicia A. Caldwell | Ben Eisen | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ A 3% Mortgage Rate in a 7% World? This Startup Says It Can Do That
▼ + stars: | 2023-09-13 | by ( Ben Eisen | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/personal-finance/mortgages/a-3-mortgage-rate-in-a-7-world-this-startup-says-it-can-do-that-6afa85aa

Persons: Dow Jones

☆ Wells Fargo Is Still in Fix-It Mode
▼ + stars: | 2023-09-06 | by ( Ben Eisen | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Mortgage Rates Hit 7.23%, Highest Since 2001
▼ + stars: | 2023-08-24 | by ( Ben Eisen | Gina Heeb | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/housing/mortgage-rates-hit-7-23-percent-72688ccd

Persons: Dow Jones

☆ Banks Don’t Love Rich Mortgage Borrowers as Much as They Used To
▼ + stars: | 2023-08-21 | by ( Ben Eisen | Rachel Louise Ensign | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Stock Market News Today: Dow Slips 150 Points; Tesla and Zoom Stocks in Focus
▼ + stars: | 2023-08-21 | by ( ) www.wsj.com time to read: +2 min

Yields on longer-term U.S. Treasurys are rising again, putting renewed pressure on stocks. Stocks opened broadly higher but retraced some of those gains as yields climbed. Volatility in stocks this month has some traders turning to one-day options . The benchmark CSI 300 lost 1.4% and Hong Kong’s Hang Seng Index fell deeper into a bear market. China’s faltering economy remains in focus for investors, after key bank lending rates weren't cut as much as the market was expecting.

Persons: –, Stocks, Ben Eisen, Rachel Louise Ensign, Jerome Powell, Jackson Organizations: Nasdaq, Dow, . Tech, Nvidia, Microsoft, Treasury, CSI, Labor Locations: U.S, Europe

☆ Mortgage Rates Hit 7.09%, Highest in More Than 20 Years
▼ + stars: | 2023-08-17 | by ( Ben Eisen | Gina Heeb | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Banks Lean On ‘Hot’ Deposits to Shore Up Balance Sheets
▼ + stars: | 2023-07-31 | by ( Gina Heeb | Ben Eisen | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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Persons: Dow Jones Locations: california

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Persons: Dow Jones Locations: california

☆ Do-It-Yourselfers Get Into Rental Cars
▼ + stars: | 2023-07-22 | by ( Ben Eisen | Photographs Scott Rossi For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Rental Cars Are the New Airbnb
▼ + stars: | 2023-07-22 | by ( Ben Eisen | Photographs Scott Rossi For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Morgan Stanley’s Profit Falls, Hurt by Lower Trading Revenue
▼ + stars: | 2023-07-18 | by ( Annamaria Andriotis | Ben Eisen | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, morgan

☆ Wall Street Can’t Shake Off Investment-Banking Slump
▼ + stars: | 2023-07-18 | by ( Ben Eisen | Annamaria Andriotis | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, morgan

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Persons: Dow Jones

☆ Is the Banking Crisis Over? We Are About to Find Out
▼ + stars: | 2023-07-13 | by ( Ben Eisen | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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