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Top related persons:
Andy Cecere - 2 William Demchak - 1 Jamie Dimon - 1 Jane Fraser , - 1 Brian Moynihan - 1 William Rogers - 1 Wells - 1 Bank of America's Brian Moynihan - 1
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WASHINGTON Wells Fargo Silicon Basel New York Bengaluru
Top related orgs:
U.S . Bancorp - 2 Thomson - 2 PNC Financial Services Group - 1 JPMorgan Chase - 1 Co - 1 Citigroup - 1 Jane Fraser , Bank of America - 1 Truist Financial - 1

Search resuls for: "Andy Cecere"


8 mentions found


☆ U.S. bank CEOs expected to protest regulation push before Congress
  + stars: | 2023-12-04 | by ( Pete Schroeder | Thomson Reuters | Covers Financial Regulation | ) www.reuters.com   time to read: +4 min
Spokespeople for the banks declined to provide comment ahead of the hearing or did not respond to requests for comment. Kevin Fromer, president of the Financial Services Forum, which represents the CEOs, said he expected Basel to be a focus. Big bank CEOs have been appearing before Congress for several years after the 2007-09 financial crisis and subsequent scandals thrust the industry into Washington's crosshairs. Former Wells Fargo CEO Tim Sloan, meanwhile, resigned in March 2019 after stumbling during a hearing about the bank's regulatory woes. But after years of playing defense, the CEOs are expected to be more assertive, this time backed by Republicans critical of red tape.
Persons: Andy Cecere, William Demchak, Jamie Dimon, Jane Fraser ,, Brian Moynihan, William Rogers, Wells, Bank of America's Brian Moynihan, Citi's Jane Fraser, Wells Fargo's Charles Scharf, Goldman Sachs, David Solomon, Morgan Stanley's James Gorman, Ronald O'Hanley, BNY Mellon's Robin Vince, Sherrod Brown, Brown, Kevin Fromer, Dimon, Elizabeth Warren, Tim Sloan, meanwhile, Tim Scott, Pete Schroeder, Nupur Anand, Tatiana Bautzer, Saeed Azhar, Lananh Nguyen, Michelle Price, Nick Zieminski Organizations: U.S . Bancorp, PNC Financial Services Group, JPMorgan Chase, Co, Citigroup, Jane Fraser , Bank of America, Truist Financial, JPMorgan, Bank of America, Bank of America's, Democratic, Silicon Valley Bank, Financial Services, Big, Former Wells, Republicans, Thomson Locations: WASHINGTON, Wells Fargo, Silicon, Basel, New York
☆ U.S. Bancorp CEO says economy heading for "moderate" recession
  + stars: | 2023-06-13 | by ( ) www.reuters.com   time to read: 1 min
June 13 (Reuters) - U.S. Bancorp's (USB.N) Andy Cecere forecast a "moderate" recession that would be short and "not very deep in terms of severity," CEO of the lender said at a conference on Tuesday. He also said one more interest rate hike was expected from the Federal Reserve in the summer. The relentless monetary policy tightening has raised the odds of a recession as consumers cut down on discretionary spending, which is hurting loan demand. U.S. Bancorp is seeing a drop in loan demand in the second quarter compared to a year earlier, Cecere said. Reporting by Niket Nishant in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons: Andy Cecere, Cecere, Niket, Shinjini Organizations: Federal Reserve, U.S . Bancorp, Thomson Locations: Bengaluru
☆ Mega-bank status weighs on U.S. banking’s B-team
  + stars: | 2022-09-26 | by ( John Foley | ) www.reuters.com   time to read: +4 min
The bosses of PNC Financial Services (PNC.N) , Truist Financial (TFC.N) and U.S. Bancorp (USB.N) joined jumbo-size counterparts on Capitol Hill for a grilling last week, their first appearance as what Congress terms mega-banks. Weighed on systemic significance, U.S Bancorp is around one-eighth as risky as JPMorgan, according to a U.S. Treasury analysis. They are also much simpler than their bigger rivals, lacking international networks and complex trading businesses. PNC boss Bill Demchak noted that his office is on Fifth Avenue, but the one in Pittsburgh, not Manhattan. Watchdogs say they fear a scenario where, say, U.S. Bancorp fails and needs to be absorbed by JPMorgan, making the biggest banks even bigger.
☆ Why Jamie Dimon apologized to Elizabeth Warren
  + stars: | 2022-09-22 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +2 min
New York CNN Business —JPMorgan Chase CEO Jamie Dimon testified on Capitol Hill Thursday for the second straight day. Zelle, Warren said, has helped boost bank profits while “defrauding” customers out of at least half a billion dollars. “Is that because you don’t keep track of when your customers report fraudulent Zelle transactions? Last year, Warren called Dimon the “star of the overdraft show” and accused him of prioritizing profits over struggling Americans. “Your bank, JPMorgan, collects more than seven times as much money in overdraft fees per account than your competitors,” she told him.
☆ U.S. bank CEOs set for congressional grilling by Democrats and Republicans
  + stars: | 2022-09-21 | by ( Pete Schroeder | ) www.reuters.com   time to read: +2 min
People wearing masks for protection against the coronavirus disease (COVID-19) walk past the U.S. Capitol in Washington, U.S., September 4, 2022. read moreThe CEOs due to testify include the heads of the four largest U.S. banks: JPMorgan Chase & Co's Jamie Dimon, Wells Fargo's (WFC.N) Charles Scharf, Bank of America's (BAC.N) Brian Moynihan and Citigroup's Jane Fraser. They are set to be joined by US Bancorp (USB.N) CEO Andy Cecere, PNC Financial (PNC.N) CEO William Demchak and Truist's (TFC.N) Bill Rogers, who run the country's largest regional lenders. Democrats are likely to press bank executives on fees, the closure of bank branches in poorer areas and how banks are addressing fraudulent transactions. Some large banks have adopted policies that some Republicans say amount to boycotts of certain industries such as fossil fuels and firearms.
☆ JPMorgan CEO Dimon to warn Congress of economic 'storm clouds' -testimony
  + stars: | 2022-09-20 | by ( Pete Schroeder | ) www.reuters.com   time to read: +3 min
JP Morgan CEO Jamie Dimon speaks at the Boston College Chief Executives Club luncheon in Boston, Massachusetts, U.S., November 23, 2021. REUTERS/Brian SnyderWASHINGTON, Sept 20 (Reuters) - JPMorgan Chase & Co (JPM.N) Chief Executive Jamie Dimon plans to tell Congress that the U.S. economy faces "storm clouds," according to prepared testimony. Dimon, who is due to testify alongside major U.S. bank CEOs at congressional hearings Wednesday and Thursday, will outline the competing forces buffeting the nation's economy. The hearing will seek CEO testimony on a range of issues, including consumer protection, compliance issues, diversity and "issues relating to the public interest" such as worker rights and abortion access, according to the memo. They will be joined by US Bancorp (USB.N) CEO Andy Cecere, PNC Financial (PNC.N) CEO William Demchak, and Truist Financial (TFC.N) CEO William Rogers, who run the country's largest regional lenders.
☆ Factbox: Meet the big bank CEOs set to be grilled by Congress
  + stars: | 2022-09-20 | by ( Pete Schroeder | ) www.reuters.com   time to read: +5 min
In his prepared testimony, Moynihan touted the firm's focus on "responsible growth" as critical to its stability and strength. CITIGROUP INCJane Fraser, the first woman to lead a major Wall Street bank, was appointed in March 2021. In her prepared testimony, Fraser said the bank had made "significant progress" in divesting from those areas, while supporting institutional clients. U.S. Bancorp is currently the fifth largest bank in the U.S. with $582 billion in assets, and the largest bank outside of the "globally systemic" firms. Rogers describes the bank as "purpose-driven" in his prepared testimony, and highlighted efforts to boost investment in lower income and majority-minority communities.
☆ Big U.S. bank CEOs to be grilled by Congress on consumer, social issues
  + stars: | 2022-09-19 | by ( Pete Schroeder | ) www.reuters.com   time to read: +5 min
The line-up includes the CEOs of the four largest U.S. banks: JPMorgan's Jamie Dimon, Bank of America's Brian Moynihan, Citi's Jane Fraser and Wells Fargo's Charles Scharf. They will be joined by USBancorp (USB.N) CEO Andy Cecere, PNC Financial (PNC.N) CEO William Demchak, and Truist Financial CEO William Rogers, who run the country's largest regional lenders. That's a message the banks' executives, lobbyists, and trade groups have conveyed during a marathon of private meetings with key lawmakers over the past few weeks, the sources said. But bank executives are also wary of growing criticism from Republicans, traditionally allies who have pushed back against heavy regulation, over what they see as Wall Street's increasingly liberal leanings on environment and social issues. While executives faced some critical questions from Republicans on such issues last year, the pressure will be greater this time, said analysts.
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