Bloomberg Rabobank Group is reviewing its commodity trade finance business, joining other major lenders in reconsidering their roles in an industry upended by recent trading scandals and the novel coronavirus. The Dutch bank, best known for financing food and agricultural traders, is analysing clients in its current portfolio. While it has no plans to exit the sector, it may choose ...

Bloomberg Wells Fargo & Co. has started its long-awaited job cuts, breaking with some of its top US competitors that have resisted workforce reductions amid the coronavirus pandemic. The San Francisco-based lender, under growing pressure to lower costs, quietly ended a moratorium on terminations in recent weeks as it prepares to make deeper cuts in the months and years ahead. ...

Bloomberg Days after Citigroup Inc. made headlines for accidentally sending $900 million to a group of lenders, a Bank of America Corp. (BofA) customer in Massachusetts opened his account to find an even bigger cash infusion: $2.45 billion. But the money was never really there. “This was a display error and nothing more than that,” Bank of America spokesman Bill ...