BNYMellon

Major Banks Restrict Data Sharing Following Cybersecurity Breach

4 days ago

In a significant move to bolster their cybersecurity measures, JPMorgan Chase and BNY Mellon have enacted restrictions on the information they share with the Office of the Comptroller of the Currency (OCC) after a recent hacking incident. This decision underscores the increasing concern among financial institutions regarding the need to protect sensitive data in the wake of heightened cyber threats.

BNY Mellon Reports Significant Profit Increase Amidst Future Uncertainties

8 days ago

In a remarkable financial performance for the first quarter of 2025, BNY Mellon announced a 21% surge in profit, indicating strong operational resilience despite growing concerns about the broader economic landscape. The banking giant reported net income of $1.1 billion, translating to $1.34 per share, up from the previous year's figures of $910 million and $1.06 per share.

Fannie Mae and BNY Mellon Face Allegations of Rate Inflation During Loan Foreclosures

15 days ago

Fannie Mae and BNY Mellon have found themselves embroiled in a significant legal dispute, as they are accused of overinflating rates charged to borrowers during the foreclosure process of various loans. This lawsuit brings attention to the practices of these financial giants, highlighting potential discrepancies in how they manage the costs associated with loan defaults.

BNY Mellon Reports Strong Fourth Quarter Earnings, Boosted by Interest Income

3 months ago

BNY Mellon has announced impressive fourth-quarter earnings for 2023, largely driven by a significant increase in interest income. The financial institution's results highlight the growing trend of banks benefiting from higher interest rates, a situation that has substantially augmented their earnings in recent months.