Big banks are about to hand $130 billion to investors, and their stocks are soaring (BAC, COF, CS, WFC, KEY, ALLY, C, JPM, GS)
|06/29/2017||Posted by BusinessMediaguide.Com under General World News||
The big banks are getting a big boost going into Thursday trading.
The Federal Reserved gave across the board approvals for the financial companies’ capital plans, most of which included share buybacks and dividend increases.
The approvals are a signal of strength for the banks, as the Fed no longer thinks holding more capital in reserve to help survive a potential crisis is necessary. Instead of reserving their money, the banks are able to share it with their shareholders.