1 hr. ago
By Nupur Anand
NEW YORK, Sept 2 (Reuters) - A Democratic U.S. senator has pressed Capital One Financial for details about an internal anti-money laundering review that the bank said last month led it to close accounts linked to President Donald Trump and his businesses.
In a letter sent to Capital One CEO Richard Fairbank on Tuesday evening and first reported by Reuters, Senator Maggie Hassan, a New Hampshire Democrat, asked for documents describing the transactions, alerts and other factors that prompted the review, as well as any communications with law enforcement or regulators related to the matter.
"The American people deserve to know," wrote Hassan, the top Democrat on the Joint Economic Committee.
Capital One declined to comment.
#capital #nupur #sept
NEW YORK, Sept 2 (Reuters) - A Democratic U.S. senator has pressed Capital One Financial for details about an internal anti-money laundering review that the bank said last month led it to close accounts linked to President Donald Trump and his businesses.
In a letter sent to Capital One CEO Richard Fairbank on Tuesday evening and first reported by Reuters, Senator Maggie Hassan, a New Hampshire Democrat, asked for documents describing the transactions, alerts and other factors that prompted the review, as well as any communications with law enforcement or regulators related to the matter.
"The American people deserve to know," wrote Hassan, the top Democrat on the Joint Economic Committee.
Capital One declined to comment.
#capital #nupur #sept
7 days ago
By Nupur Anand
NEW YORK, Aug 26 (Reuters) - Former JPMorgan Chase executive Jes Staley told U.S. lawmakers he repeatedly shared confidential and market-sensitive bank information with Jeffrey Epstein and was at one point named as a trustee of his estate, according to a transcript released by the U.S. Congress House Oversight Committee.
These admissions come as lawmakers probe the late convicted **** offender's ties with political and business elites. Staley appeared before the House Committee on Oversight and Government Reform in July as part of its investigation into Epstein and his **** ociate Ghislaine Maxwell. Transcripts from the meeting were released on Wednesday.
In the closed-door, voluntary interview conducted on July 24, Staley said he divulged to Epstein the bank's communications with the Federal Reserve during the 2008 financial crisis, a figure of $44 billion in private bank inflows over two weeks, his own compensation, and details of pending deals.
Staley also admitted to sharing other confidential information about JPMorgan with Epstein, according to the transcript.
#staley #epstein #oversight
NEW YORK, Aug 26 (Reuters) - Former JPMorgan Chase executive Jes Staley told U.S. lawmakers he repeatedly shared confidential and market-sensitive bank information with Jeffrey Epstein and was at one point named as a trustee of his estate, according to a transcript released by the U.S. Congress House Oversight Committee.
These admissions come as lawmakers probe the late convicted **** offender's ties with political and business elites. Staley appeared before the House Committee on Oversight and Government Reform in July as part of its investigation into Epstein and his **** ociate Ghislaine Maxwell. Transcripts from the meeting were released on Wednesday.
In the closed-door, voluntary interview conducted on July 24, Staley said he divulged to Epstein the bank's communications with the Federal Reserve during the 2008 financial crisis, a figure of $44 billion in private bank inflows over two weeks, his own compensation, and details of pending deals.
Staley also admitted to sharing other confidential information about JPMorgan with Epstein, according to the transcript.
#staley #epstein #oversight
30 days ago
By Nupur Anand
NEW YORK, Aug 5 (Reuters) - JPMorgan Chase CEO Jamie Dimon is urging corporate leaders to join a U.S.-focused industry group to address risks posed by AI, as corporate America rapidly adopts the developing technology, two sources familiar with the matter said.
Dimon has personally reached out to CEOs of other large and major regional banks and IT companies to enlist them in the initiative, which he is expanding from a group that JPM helped found called the Alliance for Critical Infrastructure, the sources said.
The ACI and Dimon have also communicated with other prospective members in an effort to schedule calls in August to discuss collaboration, the sources said.
The outreach, which started in July, includes over 40 companies spanning financial services, energy, water, utilities, telecommunications, airlines, railroads and other critical infrastructure industries that rely heavily on technology, the sources said. The ACI has not disclosed results of the effort so far.
#dimon #critical #corporate #Companies
NEW YORK, Aug 5 (Reuters) - JPMorgan Chase CEO Jamie Dimon is urging corporate leaders to join a U.S.-focused industry group to address risks posed by AI, as corporate America rapidly adopts the developing technology, two sources familiar with the matter said.
Dimon has personally reached out to CEOs of other large and major regional banks and IT companies to enlist them in the initiative, which he is expanding from a group that JPM helped found called the Alliance for Critical Infrastructure, the sources said.
The ACI and Dimon have also communicated with other prospective members in an effort to schedule calls in August to discuss collaboration, the sources said.
The outreach, which started in July, includes over 40 companies spanning financial services, energy, water, utilities, telecommunications, airlines, railroads and other critical infrastructure industries that rely heavily on technology, the sources said. The ACI has not disclosed results of the effort so far.
#dimon #critical #corporate #Companies
2 months ago
By Nupur Anand and Deborah Mary Sophia
July 7 (Reuters) - Amazon.com said on Tuesday it is looking to raise $25 billion through a U.S. dollar bond sale, in the company's latest push to fund its hefty AI investments.
Tech companies have been tapping debt markets and launching equity sales to fund their costly AI infrastructure build-out. Big Tech, including Amazon, Alphabet, Microsoft and Meta, are expected to spend more than $700 billion on AI this year.
Peak demand for the offering reached $62 billion, according to a report by Bloomberg News, which also first reported about the latest offering.
The offering includes a mix of fixed-rate and floating-rate notes, across eight tranches, with maturities ranging from 2029 to 2066, according to a final term sheet filed on Tuesday.
July 7 (Reuters) - Amazon.com said on Tuesday it is looking to raise $25 billion through a U.S. dollar bond sale, in the company's latest push to fund its hefty AI investments.
Tech companies have been tapping debt markets and launching equity sales to fund their costly AI infrastructure build-out. Big Tech, including Amazon, Alphabet, Microsoft and Meta, are expected to spend more than $700 billion on AI this year.
Peak demand for the offering reached $62 billion, according to a report by Bloomberg News, which also first reported about the latest offering.
The offering includes a mix of fixed-rate and floating-rate notes, across eight tranches, with maturities ranging from 2029 to 2066, according to a final term sheet filed on Tuesday.
3 months ago
By Saeed Azhar, Nupur Anand and Chris Prentice
NEW YORK, June 15 (Reuters) - Big U.S. lenders are bracing for further public scrutiny over whether they improperly closed customer accounts as a top watchdog wraps up a review that is expected to name and shame banks and result in disciplinary action, said several people with knowledge of the matter.
The Office of the Comptroller of the Currency is poised to publish in coming weeks the findings of a supervisory review of whether lenders including JPMorgan and Bank of America cut off or denied services on religious or political grounds, often dubbed debanking. It has also examined whether lenders denied services to legitimate, conservative-aligned sectors such as fossil-fuel companies, gun makers and crypto, the people said.
Debanking generally refers to the process whereby a financial institution suddenly cuts off or restricts services to individuals or businesses. Following Republican President Donald Trump's order last year, authorities have been cracking down on what Trump has characterized as politically motivated debanking pushed by Democrats, creating headaches for lenders, who deny the claims and say they have merely been following risk management rules.
Republicans have for years been ramping up pressure on Wall Street banks to drop what they describe as left-leaning "woke" policies that they say are discriminatory, and Trump says he has personally had accounts closed for such political reasons.
NEW YORK, June 15 (Reuters) - Big U.S. lenders are bracing for further public scrutiny over whether they improperly closed customer accounts as a top watchdog wraps up a review that is expected to name and shame banks and result in disciplinary action, said several people with knowledge of the matter.
The Office of the Comptroller of the Currency is poised to publish in coming weeks the findings of a supervisory review of whether lenders including JPMorgan and Bank of America cut off or denied services on religious or political grounds, often dubbed debanking. It has also examined whether lenders denied services to legitimate, conservative-aligned sectors such as fossil-fuel companies, gun makers and crypto, the people said.
Debanking generally refers to the process whereby a financial institution suddenly cuts off or restricts services to individuals or businesses. Following Republican President Donald Trump's order last year, authorities have been cracking down on what Trump has characterized as politically motivated debanking pushed by Democrats, creating headaches for lenders, who deny the claims and say they have merely been following risk management rules.
Republicans have for years been ramping up pressure on Wall Street banks to drop what they describe as left-leaning "woke" policies that they say are discriminatory, and Trump says he has personally had accounts closed for such political reasons.
3 months ago
By Tatiana Bautzer and Nupur Anand
NEW YORK, June 4 (Reuters) - Wall Street's investment banking giants are feting hopeful buyers of Elon Musk's **** eX at splashy events that kicked off on Thursday, offering something most banks can't: access to the rocketmaker's top executives ahead of its blockbuster IPO next week.
Musk himself showed up at a lead event – virtually.
His futuristic IPO, which bases its lofty valuation on sci-fi concepts like colonizing Mars and data centers in **** e, has captured the imagination – and wallets – of Wall Street and investors clamoring for a piece of the action.
Bank of America, JPMorgan and Morgan Stanley are all hosting events over the next few days.
NEW YORK, June 4 (Reuters) - Wall Street's investment banking giants are feting hopeful buyers of Elon Musk's **** eX at splashy events that kicked off on Thursday, offering something most banks can't: access to the rocketmaker's top executives ahead of its blockbuster IPO next week.
Musk himself showed up at a lead event – virtually.
His futuristic IPO, which bases its lofty valuation on sci-fi concepts like colonizing Mars and data centers in **** e, has captured the imagination – and wallets – of Wall Street and investors clamoring for a piece of the action.
Bank of America, JPMorgan and Morgan Stanley are all hosting events over the next few days.
