Banks Unleash Surprisingly Big Payouts After Fed’s Stress Tests
- Capital One is only bank ordered to resubmit its capital plan
- Shares of the biggest lenders climb in early trading
Capital One Conditionally Passes Fed's Stress Test
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The Federal Reserve told big banks they have more than enough capital, and they promptly announced a windfall for shareholders.
JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. led U.S. firms in unveiling plans to boost dividends and stock buybacks more than analysts had projected, after every lender passed annual stress tests for the first time since the Fed began the reviews in the wake of the 2008 financial crisis. Shares across the industry rallied in early trading Thursday.