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John Stumpf, who came from a poor farming family, earned $18m last year, double the pay of Goldman Sachs boss A former Minnesota farm boy who began his working life as a baker has become America’s highest-paid banking boss by taking a sceptical view of Wall Street’s trading floors and scorning the financial industry’s penchant for [...]

Analysts predict big payouts despite political pressure Goldman Sachs bankers are forecast to enjoy an 81% rise in their pay and bonuses for 2009, even though the bank may be forced to respond to political pressure by reducing the amount of money it sets aside for employee payouts in the fourth quarter of the year. Goldman is [...]

Moves comes day after Barack Obama accused Wall Street institutions of handing back funds simply in order to escape curbs on multimillion dollar bonus payouts Citigroup has been given the go-ahead by the US treasury to repay its $20bn (£12.3bn) of government bailout money, a day after President Barack Obama accused Wall Street institutions of handing [...]

• US pay tsar rules Ken Lewis will receive no pay this year• Citigroup, General Motors and Chrysler also under scrutiny Outgoing Bank of America chief executive Ken Lewis will get no pay this year, the US government’s pay tsar has ruled. Kenneth Feinberg, the US treasury department official who is scrutinising pay packages at bailed-out banks, [...]

US bank sacks vice president for misuse of $12m California beach house lost by victims of the Bernard Madoff fraud For an executive at the US bank Wells Fargo, a repossessed $12m beach house in southern California proved just too tempting. The financial institution has fired a top loans officer for using a luxurious Malibu property [...]

More people are paying bills at bank or credit union websites than at individual biller websites, according to a new report from Javelin Strategy & Research. "For the first time, more consumers paid bills via bank sites in the past month rather than biller-direct sites," James Van Dyke, President and Founder of Javelin Strategy & Research [...]

The struggling Bank of America today was guaranteed funds to help then through the financial crisis. The Government had to step in today to help the Bank of America as they have seen losses that has never been recorded before. US government have put plans in to place today to allow up to $20 billion [...]