Ken Sweet

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

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  • 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
  • FILE – People stand outside a Silicon Valley Bank branch in Santa Clara, Calif., on March 10, 2023. The recent collapse of a trio of midsize banks, including Silicon Valley Bank, has once again raised questions on whether executive compensation is tilted toward short-term gains rather than companies’ long-term health. (AP Photo/Jeff Chiu, File)Success

    The chiefs of failed banks will be in the Senate hot seat today about what went wrong—and why CEOs were paid millions

    By Ken Sweet and The Associated Press
  • First RepublicFinance

    Who’s next? Investors ravage regional bank stocks as Darwinian search for ‘the weakest’ grips Wall Street.

    By Ken Sweet, Michelle Chapman, and others
  • Jamie DimonFinance

    America has a new second-biggest bank failure and Jamie Dimon has another rescue: ‘Our government invited us and others to step up, and we did’

    By Ken Sweet and The Associated Press
  • File – Federal Reserve Board of Governors Vice Chair for Supervision Michael Barr testifies at a House Financial Services Committee hearing on Capitol Hill, Wednesday, March 29, 2023, in Washington. Barr was selected by Fed Chair Jerome Powell to lead the central bank’s review of its supervision of Silicon Valley Bank, which failed in March. (AP Photo/Andrew Harnik, File)Finance

    Silicon Valley Bank collapsed because its managers were terrible and regulators dropped the ball, according to a new Fed report

    By Christopher Rugaber, Ken Sweet, and others
  • A handful of red state Democrats were instrumental helping Republicans secure a rollback of banking regulations sought by then-President Donald Trump in 2018. NPhoto/Damian Dovarganes, File)Politics

    Army of lobbyists worked to water down bank rules that regulated SVB and Signature: ‘You couldn’t throw an elbow without running into one’

    By Brian Slodysko, Ken Sweet, and others
  • Axel Lehmann, Colm KelleherFinance

    ‘A historic, sad and very challenging day’ as Switzerland goes from 2 financial giants to just one and the world banking system teeters

    By Jamey Keaten, Ken Sweet, and others
  • Barney FrankFinance

    ‘The great mystery here is why the supervision was AWOL at Silicon Valley Bank’: Wall Street and DC point fingers amid burbling banking crisis

    By Paul Wiseman, Ken Sweet, and others
  • Customers in line outside Silicon Valley Bank headquarters in Santa Clara, California, US, on Monday, March 13, 2023. The collapse of Silicon Valley Bank has prompted a global reckoning at venture capital and private equity firms, which found themselves suddenly exposed all together to the tech industry’s money machine. Photographer: David Paul Morris/Bloomberg via Getty ImagesFinance

    Federal Reserve promises a ‘careful and thorough’ review of how it supervised failed Silicon Valley Bank: ‘We need to have humility’

    By Ken Sweet, Christopher Rugaber, and others
  • Joe BidenFinance

    Biden says financial system is safe but all seized banks’ management should get sacked and tougher rules are needed

    By Ken Sweet, Christopher Rugaber, and others
  • Signature BankFinance

    Government takes extraordinary steps to ward off banking crisis as 3rd-largest bank failure quickly follows SVB implosion

    By Ken Sweet, Christopher Rugaber, and others