Contrasting views underline the tension between banking chiefs and regulators at a time when policymakers around the world are overhauling financial sector rules to avoid a repeat of the recent turmoil

Wells Fargo moved to reassure investors that its foreclosure procedures were correct and said it had no plans to suspend them as questions mount over how banks reclaim homes.

Morgan Stanley disappointed investors with a quarterly net loss, as momentum from its trading businesses stalled and the bank wrote down the value of an investment in a casino company

Goldman Sachs sharply reduced its bankers’ pay pool in the third quarter, bringing the amount of revenues it earmarks for employees to a record low, as a slowdown in trading hit profits

Terra Firma’s legal team accuses US bank of secretly working against the private equity investor’s interests

Banks under increasing pressure to set aside extra money as questions surrounding their foreclosure practices spark broader concerns over how these loans are sold

States should hold banks to account over illegal foreclosures, and show them that their slapdash approach to their legal responsibilities is unacceptable

Wells Fargo has remained above the fray in recent weeks as banks have come under scrutiny for rubber-stamping thousands of mortgage documents. A sworn deposition by one of its loan documentation officers suggests otherwise

The US mortgage foreclosure crisis deepened as it emerged that Wells Fargo may have used practices that prompted rivals to halt home repossessions, and JPMorgan Chase said banks might be fined over the issue

Naguib Kheraj, the former head of JPMorgan Cazenove and one of the UK’s best-known bankers, has joined Lazard as the chief executive of its London-based international business