Here’s what’s happening on Wall Street

Banking Stocks Plunge Amid Sluggish Consumer Lending

The stocks of major banks have been struggling most of the year and haven’t been keeping up with the past year’s overall stock-market gains amid a surprisingly tepid demand for loans.

Wells Fargo’s profit rises to $6 billion in latest quarter

Wells Fargo, still haunted by multiple scandals, reported higher earnings in the third quarter Friday but still fell short of what analysts were looking for.

JPMorgan’s consumer banking strength offsets bond trading weakness

JPMorgan Chase & Co reported a better-than-expected quarterly profit on Friday as gains from higher interest rates and growth in loans helped the bank offset weakness in bond trading revenue.

Goldman and StanChart Hike Brexit Job Plans for Frankfurt

Goldman Sachs Group Inc. and Standard Chartered Plc have recently expanded the number of staff moving to Frankfurt by April as financial services firms accelerate their Brexit planning, according to people familiar with the matter.

Citigroup, Like JPMorgan, Posts Higher Profit on Tax Cuts

Citigroup Inc. the U.S. bank with the most sprawling international operations, said third-quarter profit rose 12% from a year earlier thanks to President Donald Trump’s steep cuts in corporate tax rates, even as revenue growth stalled.

 

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A DAILY ROUNDUP OF THE MOST FASCINATING WALL ST, COMPLIANCE AND REGULATORY NEWS.