Financial Services

The chairman of the U.S. Senate Banking Committee said Wells Fargo Chief Executive Charles Scharf needs a plan to improve the bank’s internal controls.

The changes will give audit oversight authority to a new regulator.

The European Union is set to set to impose its toughest sanctions yet on Russia, banning imports of its oil and blocking insurers from covering its cargoes of crude, as the West seeks to deprive Moscow of cash needed to fund the war on Ukraine.

Rates are up as much as 20% as insurers struggle with inflation.

Millions will find out this fall that their health-insurance premiums are set to rise substantially. That has spurred a lobbying campaign to persuade Congress to extend financial help.

The votes are not binding and the numbers are small. But shareholders are pushing back against what they see as shoddy accounting and the possibility that lucrative extra work is eroding the independence of the audit.

Rivals of Ernst & Young say they are not going along with its idea to divide auditing and consulting businesses.

Big Four accounting firm Ernst & Young is considering a split of its audit and advisory businesses, amid regulatory scrutiny of potential conflicts of interest in the profession, according to people familiar with the matter.

The co-working space operator is still recovering from the pandemic.

The U.S. accounting standard-setter will consider crafting rules for how companies should account for climate-related transactions, a key step to providing clarity for firms and investors on deals involving items such as renewable-energy credits and carbon offsets.

More insurers are offering coverage to cryptocurrency companies, hoping to profit from the industry’s rapid growth.

Authorities in China have been pushing in recent months to resolve what has become a drag on overseas-listed Chinese stocks like Alibaba and Baidu.

The leaders of America’s largest bank expect credit losses to remain low due to higher cash balances.

The investment gives the merchant bank a nonvoting minority stake Pendulum Holdings, a firm founded to advise and provide capital to companies founded by people of color.

The remarks made by Stuart Kirk have drawn criticism from the bank’s CEO and environmental activists.

The nurse and educator considers returning to the private sector to boost his earnings potential.

A conflict-of-interest investigation of accounting industry practices includes nonaudit services, such as those involving an electric-vehicle startup.

Chief executive Andrew Witty says households and businesses want a more efficient, higher quality system.

Businesses owned by Greg Lindberg could be sold to repay insurers.

Some financial advisers are specializing in the needs of adults who choose not to have children.