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Michael Del Castillo

Michael Del Castillo

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BlackRock and Vanguard own huge amounts of bank shares—but only one agrees with FDIC policy on undue influence

Vanguard has already signed an agreement with the FDIC while BlackRock is reportedly pushing to delay until the Trump administration takes over later...

15.01.2025 5

Fortune

Michael Del Castillo

Why Walmart broke up with Capital One—and the dark horse bank set to benefit

After Capital One generated $8.5 billion in credit card balances from Walmart customers, the bank squandered an exclusive deal, opening up a...

09.01.2025 6

Fortune

Michael Del Castillo

European steel giant ArcelorMittal shutters two South African sites—impacting over 3,500 jobs

The company said low steel prices on international markets due to "record Chinese exports" was a major reason for the move.

07.01.2025 3

Fortune

Michael Del Castillo

JPMorgan and big banks prepare for flood of deals, survey finds 43% of middle-market CEOs expect ‘strategic’ opportunities

Family-owned businesses are getting ready for a new wave of M&A activity powered by President-elect Donald Trump's promise of a lighter touch

07.01.2025 4

Fortune

Michael Del Castillo

As FX volume surges past $1 trillion a month, Morgan Stanley and BoA adopt a new system to charge for trades

As foreign exchange volumes explode nearly 30% in a year Morgan Stanley joined a wave of banks looking to modernize the way FX traders to business.

23.12.2024 4

Fortune

Michael Del Castillo

JPMorgan Chase, Bank of America, and Wells Fargo sued over Zelle scams that cost $870 million

The controversial regulator alleges the banks failed to prevent fraud on Zelle, a payment platform they co-own.

20.12.2024 3

Fortune

Michael Del Castillo

Jamie Dimon’s right hand man is ready to lead JP Morgan—but time is not on his side

Dimon recently called Daniel Pinto his ‘hit-by-a-bus’ successor, but that doesn't mean the top job awaits.

19.12.2024 8

Fortune

Michael Del Castillo

BNY CEO identifies ‘megatrends’ expected to boost bank’s profits

BNY crossed $50 trillion in assets under custody and administration earlier this year, and is trying to expand on its reputation as a global...

11.12.2024 3

Fortune

Michael Del Castillo

Top JP Morgan exec Marianne Lake warns new credit and debit card fee rules will hurt consumers

Lake's primary concerns lie with proposed rules for credit and debit card fees.

11.12.2024 3

Fortune

Michael Del Castillo

Citigroup CFO tells Goldman Sachs audience why his bank failed to meet regulatory requirements

The chief financial officer explained how the way Citigroup was founded is contributing to problems complying with regulatory requirements.

10.12.2024 2

Fortune

Michael Del Castillo

McKinsey exec warns banks to avoid ‘thousand flowers bloom’ approach to AI

The consulting firm to governments and big businesses has been helping banks implement artificial intelligence solutions for two years, and today...

10.12.2024 4

Fortune

Michael Del Castillo

Billionaires plan to invest in three areas in 2025 to get even richer

Nearly 3,000 billionaires provided insights into how they'll be investing over the next 12. months.

05.12.2024 4

Fortune

Michael Del Castillo

Moody’s upgrades global banking sector for 2025, cautions against ‘growing protectionism’

The rating agency improved the bank sector status despite a number of risks.

05.12.2024 6

Fortune

Michael Del Castillo

Walmart CEO shares lessons of drone delivery at Morgan Stanley gathering

The Fortune 500 veteran talked price segmentation at Morgan Stanley's largest retail event of the year.

04.12.2024 6

Fortune

Michael Del Castillo

‘Let the banks be banks’—Trump’s pick for Treasury has $23 trillion sector champing at the bit

Bankers expect Trump's Treasury Secretary Nominee to remove regulatory burdens.

26.11.2024 4

Fortune

Michael Del Castillo

If Apollo CEO Marc Rowan is tapped as Treasury Secretary, it could mean a boon for $24 trillion private equity market

The billionaire founder would be just the latest top PE executive to wield power in aTrump White House.

19.11.2024 3

Fortune

Michael Del Castillo

FDIC boss credits one simple technology for helping more Americans than ever get a bank account

A simple banking innovation solves nearly every problem unbanked users say keeps them from getting an account.

18.11.2024 7

Fortune

Michael Del Castillo

Bitcoin users are mostly rich and white or Asian— FDIC survey

The FDIC polled 30,000 households about their crypto use, and made some surprising discoveries.

13.11.2024 2

Fortune

Michael Del Castillo

Wells Fargo economist says cheap Thanksgiving meals will be more expensive this year

Thanksgiving prices are behaving unusually this year, in part due to sellers over-reacting to Covid price increases. As things normalize some...

12.11.2024 3

Fortune

Michael Del Castillo

Exclusive: The secretive Goldman Sachs pipeline that helps cash-poor founders tap into their vast wealth

Some of America's most successful founders are cash-poor and rely on personal liquidity loans to live lavish lifestyles.

12.11.2024 3

Fortune

Michael Del Castillo

Election alert: Zelle CEO warns of political donation scams targeting elderly users

With reports of elderly victims of political scammers on the rise, the payment giant that transacted $481 million in he first half of 2024, says...

31.10.2024 2

Fortune

Michael Del Castillo

JPMorgan’s latest growth strategy: challenging payday lenders on their home turf

JPMorgan says its new banking model is now profitable, which could spell trouble for competitors looking to serve the unbanked.

30.10.2024 1

Fortune

Michael Del Castillo

Citi moves vital infrastructure to Google Cloud as part of broader AI push

Citigroup's financial infrastructure powers much of the global economy, but is difficult to upgrade. A move to Google Cloud announced today could...

28.10.2024 3

Fortune

Michael Del Castillo

Morgan Stanley’s executive chairman rescued the bank during the Great Recession. Can he do the same for Disney?

James Gorman's history of strategic leadship is now being leveraged to select the next CEO of Disney.

24.10.2024 3

Fortune

Michael Del Castillo

FedEx founder says corporate data predicted the rise of Tesla and Nvidia—and can flag new trends

Fred Smith says FedEx's data keeps it on the cutting edge of what other companies are doing.

18.10.2024 10

Fortune

Michael Del Castillo

FedEx founder says corporate data predicted the rise of Tesla and Nvidia—and can flag new trends

Fred Smith says FedEx's data keeps it on the cutting edge of what other companies are doing.

18.10.2024 20

Fortune

Michael Del Castillo

WNBA great Candace Parker wants to buy a team in the league—and an NBA team too

Even after retirement, this three-time champion continues to aim for the biggest goals.

17.10.2024 30

Fortune

Michael Del Castillo

BNY becomes first bank in history with $50 trillion in assets under custody and administration on the way to a record quarter

One of the oldest banks in America crossed a historic milestone last quarter, but it's not all good news

11.10.2024 8

Fortune

Michael Del Castillo

Feds slap TD Bank with $3.1 billion in fines for money laundering of fentanyl trafficking and terrorist financing

The Justice Department say TD allowed child traffickers, fentanyl rings and others to operate on its network.

11.10.2024 200

Fortune

Michael Del Castillo

UBS ‘quantimental’ framework identifies a surprise U.S. company as its highest ranking stock

The Swiss bank’s proprietary stock selection framework identified a rising star cyber security company that’s finally having its moment

10.10.2024 10

Fortune

Michael Del Castillo

Wells Fargo’s new government banking boss seeks to expand portfolio of 3,000 clients

The money center bank now has a new head of government banking

08.10.2024 3

Fortune

Michael Del Castillo

Banks are omitting data about race from home loans—preventing researchers from identifying racist lending and its solutions

The National Community and Reinvestment Coalition (NCRC) today published its first report since committing not to use ‘stripped’ data

04.10.2024 10

Fortune

Michael Del Castillo

Bank stocks offer ‘places to hide’ amid market tumult, says Well Fargo

As the S&P 500 fell 6.5% in five days a new Wells Fargo report says a couple regional banks, trust banks and an unusual play in Puerto Rico could...

05.08.2024 1

Fortune

Michael Del Castillo