Federal Watchdogs Flag 4 Major US Banks for Lack of Crisis Management; Demand Living Will Revisions

Federal authorities have spotlighted critical deficiencies in the crisis management strategies--known as “living wills”--of four major U.S. banks, signaling a push for stronger safeguards against financial turmoil. The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve announced that plans from Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase fell short of expectations, setting […]