Ken Sweet

Stay informed with Ken Sweet’s coverage and analysis for Fortune.

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  • Customers make a transaction at a Capital One ATMFinance

    Capital One’s deal to buy Discover for $35 billion ‘will shrink the marketplace a little more now,’ credit card analyst says

    By Ken Sweet and The Associated Press
  • Motorists drive past a sign outside a branch of Wells Fargo bank, Wednesday, Sept. 20, 2023, in Deadwood, S.D. The Biden Administration is easing its restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals. The news sent Wells Fargo’s stock up sharply in afternoon trading as investors speculated that the bank, which has been kept under a tight leash by regulators for years, may be able to start growing again. (AP Photo/David Zalubowski, File)Finance

    Biden administration eases Wells Fargo oversight, saying bank has sufficiently fixed its toxic culture after years of scandals

    By Ken Sweet and The Associated Press
  • North CarolinaFinance

    First National Bank caught ignoring Black, Latino neighborhoods in North Carolina as redlining mortgage scandal grows

    By Ken Sweet and The Associated Press
  • Joe BidenPolitics

    That bank charge from a transaction getting declined in real time is another ‘junk fee,’ Biden’s CFPB claims

    By Ken Sweet and The Associated Press
  • Close up of hand holding credit cards.Personal Finance

    Bank overdraft fees could drop to $3 under new Biden proposal: ‘Banks call it a service—I call it exploitation’

    By Ken Sweet, Cora Lewis, and others
  • Stan Deal, chief executive officer of commercial airplanes at Boeing Co., during a Bloomberg Television interview at the Dubai Air Show in Dubai, United Arab Emirates, on Monday, Nov. 13, 2023. With Turkish Airlines and Emirates charging into Monday with potentially massive deals, the Dubai show stands to set a record last seen a decade ago, when airlines rang in more than $100 billion in commitments on a single day. Photographer: Christopher Pike/Bloomberg via Getty ImagesFinance

    ‘We are not where we need to be’: Boeing vows to step up quality inspections on 737 Max planes after door panel blowout

    By Ken Sweet and The Associated Press
  • Taylor Swift performs onstage during "Taylor Swift | The Eras Tour"Finance

    Elon Musk, Taylor Swift, inflation and AI—here are the business stories that dominated 2023

    By Paul Wiseman, Ken Sweet, and others
  • CEOs from left, Charles Scharf, Wells Fargo, Brian Moynihan, Bank of America, Jamie Dimon, JPMorgan Chase, Jane Fraser, Citigroup, and Ronald O'Hanley, State Street, testify during the Senate Banking, Housing, and Urban Affairs Committee hearingFinance

    Wall Street’s biggest rivals unite on Capitol Hill to slap down Biden’s proposed changes to how banks are regulated: ‘It just doesn’t make sense’

    By Ken Sweet and The Associated Press
  • Caroline Ellison, former CEO of Alameda Research founded by Sam Bankman-Fried, exits Manhattan federal court after testifying, Tuesday, Oct. 10, 2023, in New York. (AP Photo/Eduardo Munoz Alvarez)Companies

    FTX founder Sam Bankman-Fried’s former hedge fund chief (and ex-girlfriend) Caroline Ellison says he hoped to be U.S. president someday

    By Ken Sweet, Larry Neumeister, and others
  • LAHAINA, HAWAII – AUGUST 18: In an aerial view, burned cars and homes are seen in a neighborhood that was destroyed by a wildfire on August 18, 2023 in Lahaina, Hawaii. At least 111 people were killed and thousands were displaced after a wind driven wildfire devastated the towns of Lahaina and Kula early last week. Crews are continuing to search for missing people. (Photo by Justin Sullivan/Getty Images)Environment

    FEMA has paid Maui fire survivors $4 million so far—and overall damage in the area could top $3 billion

    By Ken Sweet, Mae Anderson, and others
  • Jane Fraser, chief executive officer of Citigroup Inc., during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” at the Economic Club of Washington in Washington, DC, US, on Wednesday, March 22, 2023. Fraser said mobile apps and consumers’ ability to move millions of dollars with a few clicks of a button mark a sea change for how bankers manage and regulators respond to the risk of bank runs. Photographer: Valerie Plesch/Bloomberg via Getty ImagesFinance

    Citigroup says slavery indirectly helped its predecessor companies, joining a wave of businesses reexamining their troubled pasts

    By Ken Sweet and The Associated Press
  • Bank of America CEO Brian Moynihan.Finance

    Bank of America caught opening accounts without consent, withholding customer reward bonuses and ‘double-dipping’ on overdraft fees

    By Ken Sweet, Michelle Chapman, and others
  • FILE – President Donald J. Trump’s name is printed on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak in this April 23, 2020 photo taken in San Antonio. Early in the pandemic, government relief checks became an attractive target for criminals. The problem has only gotten worse and postal authorities and bank officials are warning Americans to avoid mailing checks if possible, or at least to use a secure mail drop such as inside the post office. (AP Photo/Eric Gay, File)Finance

    Check fraud has gotten so rampant that postal officials are warning Americans to avoid mailing checks

    By Ken Sweet and The Associated Press
  • FILE – The PayPal logo hangs displayed outside their company headquarters on March 10, 2015, in San Jose, Calif. Customers of PayPal, Venmo and CashApp should not store their money for the long term with these apps because their funds might not be safe during a financial crisis, the Consumer Financial Protection Bureau warned on Thursday, June 1, 2023. (AP Photo/Jeff Chiu, File)Finance

    PayPal and Venmo users shouldn’t store money on the apps long term because the funds might not be safe during a crisis, federal watchdog warns

    By Ken Sweet and The Associated Press
  • Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview on the sidelines of the JPMorgan Global China Summit in Shanghai, China, on Wednesday, May 31, 2023. Dimon said JPMorgan Chase & Co. will be in China in both good and bad times, remaining committed to doing business in the Communist Party-ruled nation as political tensions grow. Source: BloombergFinance

    Jamie Dimon responds emphatically to lawsuit over sex trafficker Jeffrey Epstein: ‘I’ve never met Jeff Epstein. I never knew Jeff Epstein’

    By Larry Neumeister, Ken Sweet, and others