A highly anticipated government report due to be released July 31 is expected to say big banks received less of a subsidy from the perception that they are "too big to fail." But it remains uncertain whether that would continue to be true in a future crisis or if market conditions change.
The company has been under consideration as systemically important for more than a year, and its executives have met more than 10 times with council staff members to argue it doesnt pose a risk.
After the Federal Reserve Bank of New York was said to have faulted the regulatory reports of some of the firms U.S. businesses last year, the bank dropped in Frankfurt trading.
Credit Suisse Group AG said it will abandon commodities trading as a $2.6 billion fine to settle a U.S. tax investigation pushed the Swiss bank to its biggest quarterly loss since 2008.
As the Dodd-Frank law turns four years old, policymakers appear increasingly willing to revisit a key requirement that says banks with $50 billion of assets are systemically risky.
Regulators have closed Eastside Commercial Bank in Conyers, Ga., the 13th institution to fail this year.
Julius Baer Group, Switzerlands third-largest wealth manager, said its affluent Russian clients were less active in the first half of the year amid political tensions in the region.
The financial services industry and others are seeking better metrics for analyzing the economic impact of the regulatory reform law, with some saying it is hampering the recovery and having other unintended effects.
JPMorgan Chase will let Jamie Dimon collect about $37 million in stock options created during the financial crisis, as the board stands by its leader after risk-management lapses and billions of dollars in legal settlements.
The banking industry is pushing back against a plan released this week by the Consumer Financial Protection Bureau to publicize more details about consumers' individual complaints about financial companies.
IBM is creating new apps for banks their employees can use on iPhones and iPads. In doing so, Big Blue will help banks push legacy applications out to new devices, making many types of work possible on Apple devices.
The push to expand banking services at the country's post offices continues to gain momentum, though numerous questions remain about the design and scope of such an effort.
A community group opposes Banc of California's plans to buy 20 branches, saying management isn't being open about plans to serve low-income and minority customers. The bank says its all a misunderstanding. Still, the issue shows why banks must foster good relations with powerful advocacy groups.
Bank of America hasn't budged from an offer to pay about $13 billion to settle federal and state probes of mortgage-backed bond sales, increasing the likelihood that prosecutors will sue the bank, according to two people with knowledge of the matter.
Assets under management at UBS rose to $1.97 trillion, cementing its No. 1 spot in the ranking by Scorpio Partnership, a London-based consultancy.
Democratic and Republican lawmakers are cooperating on legislation that would lift some of the secrecy around the U.S. council that decides which companies pose the biggest risks to the financial system.
Raoul Weil, a former top UBS AG banker facing trial in Florida on charges of helping Americans evade taxes, asked a judge to allow defense witnesses outside the country to testify by video because they fear retaliation if they come to the U.S.
American International Group will get at least $650 million in a settlement with Bank of America as the second-biggest U.S. bank seeks to end liability for faulty mortgages.
The Justice Department's $7 billion deal with Citigroup is likely not the last big government maneuver to penalize banks for faulty mortgage-related practices leading to the financial crisis.
JPMorgan Chase CEO Jamie Dimon plans to be involved running the bank at a less intense pace as he fights throat cancer and said that the company is prepared for all scenarios.
More small banks are engaging on social media and are finding ways to highlight their community involvement, promote their personalities and better connect with customers.
Citigroup, the third-biggest U.S. bank, said second-quarter profit tumbled 96% on $3.7 billion in costs tied to a mortgage-bond settlement with U.S. authorities.
The bank posted strong growth in commercial loans in the second quarter, which may bode well for other banks that concentrate on business lending, but it wasn't enough to prevent questions about how Wells will be able to maintain its performance in the face of stepped-up competition from other lenders.
Citigroup agreed to pay $7 billion in fines and consumer relief to resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis.
A spike in smaller deals, along with improved premiums, is providing hope that buyers and sellers are finally coming together as industry experts forecast several years earlier.
A small credit union is testing a tech-based solution to an old-world problem: busy branch lobbies.
The Honolulu-based credit union chose CUSO Financial Services to help expand its brokerage program.
The percentage of U.S. consumers who are late on their loan payments remained at near-record lows in the first quarter, though a key figure rose slightly from the fourth quarter. Meanwhile, payments on home equity lines fell to their lowest level in five years, according to a new ABA report.
Fraud fighters have spotted a new form of ATM skimming device that is so small it's easy for the human eye to miss.
Nearly six months into her first term as Federal Reserve Board chair, Janet Yellen has sought to put financial stability on nearly equal footing as monetary policy.
Roughly three in four advisors said they were likely to seek out additional support, content or tools related to Social Security in the next year.
David Campanella will lead a team of wealth management professionals serving high-net-worth clients in Cleveland and Columbus.
This week, for the third time, the biggest U.S. banks have sent regulators detailed plans for their own demise. The regulators response to those filings has been far less detailed.
The revenue increases were concentrated in the smaller bank broker dealers, according to a new survey by Kehrer Saltzman & Associates.
The errant sales assistant allegedly converted funds from an LPL business bank account.
BNP Paribas' record $8.9 billion penalty and criminal guilty plea could have reverberations industrywide, including emboldening the Justice Department to seek similar actions against domestic banks and causing international regulators to take retaliatory action.
BNP Paribas pleaded guilty to charges tied to a U.S. probe of sanctions violations, resolving a wide-ranging state and federal investigation with a penalty of at least $8.8 billion, the largest fine for such a case in history.
A growing number of community banks are adopting bank-owned life insurance as a way to counter shrinking loan margins and diminished returns on other investments. BOLI can also help banks that are trying to meet higher capital requirements.
Barclays was so bent on lifting its private trading venue to the upper ranks of Wall Street dark pools that it lied to customers and masked the role of high- frequency traders, according to New Yorks attorney general.
Most of the worlds economic growth will come from outside the U.S, yet most American investors are still under-diversified in international assets.
Joseph Ellison claimed that while he was promised that he'd work at JP Morgan, he wound up getting old Bear Stearns.
Cold calling prospects is a great strategy if you approach it the right waycalling
lists are relatively easy to obtain and few other advisors are doing it.
A former Credit Suisse managing director for investment banking who had pleaded guilty to lying about the value of mortgage-backed bonds in 2007, avoided time in prison after cooperating with prosecutors.
Rather than expanding the program through referrals from within, the Dallas-based bank is pushing advisors to find new business externally.
Stock brokers who switch firms will be able to keep their bonuses to themselves for at least a few months longer.
The bank advisory association named Jeff Hartney as executive director, effective July 7, to replace Jim McNeil.
Bank of America Corp.s lawsuit against the Federal Deposit Insurance Corp. against the Federal Deposit Insurance Corp. for $1.7 billion in client losses was revived after the agency said that a bank at the center of the Taylor Bean scandal may have have enough assets to pay the claims.
The fate of living wills for the biggest banks and a new system to resolve the largest institutions has taken a back seat to other regulatory efforts in the wake of the Dodd-Frank Act. Here's why banks of all sizes need to be focused on the effort.
Almost half of the broker-dealers and investment advisors who contested actions against them had charges dismissed or sanctions lowered when they took their cases to an SEC administrative law judge or a FINRA hearing panel.
To start moving ahead, advisors need to follow a seven-step roadmap to success that includes branding, process standardization, lead generation and managing staff.
JPMorgan Chase engaged in a pattern of discriminatory lending that led to foreclosures, the city of Miami said in a lawsuit filed last week in federal court, the latest in a series of similar claims against the nations largest banks.
BNP Paribas SA, the French bank facing a potential $10 billion U.S. penalty over its dealings with sanctioned countries, said its sticking with a plan to expand its BancWest division.
The United States Court of Appeals has confirmed BancorpSouth's lack of liability in an online banking fraud case, and even granted that the bank may seek to recover attorneys' fees from the victim.
The city of Richmond, Calif., wants to team up with another municipality to implement its plan to use eminent domain to seize underwater mortgages. There have been no takers to date. The likely reasons are the FHFA and the continuing threat of litigation.
Regulators' evaluation of last year's "living wills" submitted by the biggest banks was touted as an important step in ending "too big to fail," but the agencies have failed to provide any feedback on previous plans just weeks before the next set are due.
One of the three was a former registered rep with Chase Investment Services who was kicked out of the industry for stealing more than $27,000 from two elderly bank customers.
The community banking model is supposed to be simple: take deposits, make loans. There is, however, a growing number of banks that are largely omitting the lending part of the model.
Mike Quimby will lead a team of more than 30 financial advisors and will help drive growth across the banks central region markets in six states.
Majority Leader Eric Cantor's stunning defeat in Virginia's Republican primary Tuesday evening could usher in a new political era for the House one that's likely to leave its imprint on the banking industry.
The Holding family has held large stakes in several banks for years; two of those banks are finally merging as part of a $637 million deal.
The U.S. Supreme Court turned away a Wells Fargo units bid for as much as $148 million in tax refunds, leaving intact an Internal Revenue Service victory in a corporate tax-shelter case.
Credit Suisse Group AG, Switzerlands second-biggest bank, is considering selling additional stakes in an electronic interest-rates trading unit it set up last year, according to a person briefed on the plan.
The new breed of branch employee can do it all. Have tellers finally reach the end of the line?
The new platform is an extension of PNCs Wealth Insight platform, which the bank rolled out to high-net-worth clients in 2011 to wide acclaim.
BNP Paribas SAs settlement talks with the U.S. over sanctions violations have headed out of the ballpark, compared with previous punishments levied by the Obama administration in such cases.
The advisor was permanently barred last week for running what appears to be a Ponzi scheme.
The Labor Department is one regulator that hasn't immediately fallen into line to give Credit Suisse Group a pass following its May 19 guilty plea for helping Americans evade taxes.
After years of mastering the intricacies of investments and portfolios, many advisors still have a hard time really understanding clients. The broker-dealers in the bank channel are trying to help unlock those secrets.
Banks are still feeling negative effects from last year's sudden rise in medium- and long-term interest rates, but plenty of signs in the Federal Deposit Insurance Corp.'s latest industry update continue to point to a lending resurgence in the near future.
UBS Wealth Management Americas, an arm of Switzerland's largest bank, has joined the growing list of lenders in the United States gunning for mortgage volume through the wealth management channel.
Charles Gualano isn't competing against other banks and their advisors; or even some lower fee structure. More often, hes working against investors' anxieties or misconceptions.
Community banks that are looking to complete acquisitions are deciding to go public so they have a stronger currency to offer potential sellers. However, recent IPOs have not performed as well as earlier ones.
Thirteen Swiss banks face rising stakes in their own criminal probes after Credit Suisse Group set a new standard for punishment in the U.S. crackdown on offshore tax evasion.
JPMorgan Chase and Wells Fargo are retaining more high-quality, conforming mortgages that they would normally sell to Fannie Mae or Freddie Mac, raising concerns that the banks are adversely selecting the weakest loans for the government-sponsored enterprises.
Credit Suisse Group AG sold $5 billion of bonds, the first benchmark offering since its bank unit pleaded guilty to helping Americans cheat on their taxes.
Royal Bank of Canada, the first Canadian lender to report second-quarter results, posted profit that beat analysts estimates on record earnings from wealth management and a lift from trading.
City National Bank hired five wealth management pros in its private client group in Californias central coast region.
Credit Suisse agreed to pay $2.6 billion in penalties and pleaded guilty to helping Americans cheat on their taxes, making it the first global bank in a decade to admit to a crime in a U.S. courtroom.
Two of the three brokers banned were registered with JP Morgan Securities. The other was with HSBC Securities.
Multibank holding companies that have long resisted consolidating their banks are finally giving in. The switch can offer a range of advantages beyond improved efficiency, but choosing the right moment for a consolidation and making sure not to spook customers can be tricky.
Democratic lawmakers on the Senate Banking Committee sounded off against bipartisan legislation to overhaul the mortgage finance system on Thursday, opposition that likely all but ruins the bill's chances of making it to the chamber floor this year.
Using new technology from Salesforce, the Boston bank is arming staffers with real-time customer data in a bid to increase wallet share, speed up decisions and help it handle problems quickly and efficiently.
A founding director at Touchmark Bancshares in Georgia claims he was ousted after questioning the bank's strategy. Now he is lobbying for the company's sale.
Emboldened by a newfound sense of what their investment programs offer, more banks are turning to wirehouses for recruits.
Citizens Bank of Edmond, a $252 million-asset bank led by Jill Castilla, is eager to show that a lack of size shouldn't hold a bank back from doing things differently. The bank is embracing new ATM technology and active use of social media.
Executive pay packages have long been structured to reflect performance. But one key task that often gets short shrift from bank directors and CEOs is succession planning. Now pressure is mounting for that to change.
If Tim Geithner had his way, the government would have bailed out Washington Mutual bondholders and prevented Wells Fargo from acquiring the floundering Wachovia Corp. in 2008, ensuring instead that it was awarded to Citigroup
Though Vice Chairman Thomas Hoenig and board member Jeremiah Norton must defer to Chairman Martin Gruenberg on setting the Federal Deposit Insurance Corp.'s agenda, the two directors have still found ways to affect policy, particularly on new capital rules for the biggest banks.
Federal Reserve Board Chair Janet Yellen said Thursday that she has asked the White House to appoint a community banker to the central bank's board.
A pair of acquisitions announced this week is creating chatter about out-of-market interest in Florida's banks. Still, some caution that bankers must be mindful of past mistakes by other long-distance buyers.
The nation's fourth-largest bank has opened another mini-branch in hip Washington, D.C., neighborhood teeming with young professionals. Is this the prototype for the urban branch of the future?
The company will soon exceed $50 billion in assets, which will bring with it added scrutiny and possible pressure to lower its dividend.
FINRA barred a former bank advisor from the industry for attempting to swindle customers and fined and suspended two others for violating standards of commercial honor.
Fitch Ratings downgraded New Jersey's general obligation rating to A-plus from AA-minus on Thursday.
In the first quarter of 2014, the wealth management division of Bryn Mawr Trust generated $8.9 in revenue, up 6.7% year-over-year.
In the bank channel, fee business is still the exception, not the rule. Likewise, working in teams is not the norm.
Program managers are constantly juggling, trying to keep advisors and bank management happy. We've sliced and diced the data to present our annual Top 20.
Hugh "Skip" McGee isn't just the head of a British bank's Americas division. He is one of its most lavishly paid officials and the only former Lehman Brothers Holdings Inc. alumnus on the executive committee.
Noninterest income seemed to stabilize some during the first quarter, though smaller banks are still struggling to see meaningful increases in fees.
Banks will continue to seek new customer referrals from satisfied clients, but the larger opportunity rests with current customers.
Brokerage units carried the day for many bank wealth management businesses as their trust units languished.
Barclays said Hugh "Skip" McGee will step down as chief executive officer of its Americas unit, almost six years after the British bank bought the operation from the bankrupt Lehman Brothers Holdings.
Bank of America's discovery that it submitted incorrect information to the Federal Reserve Board during its recent stress test could undermine what has already become an overly complex exercise.
BofA CEO Brian T. Moynihan won permission last month for the firm's first dividend increase since the financial crisis. Now he's under pressure to salvage the payout after the company mistakenly inflated capital levels by about $4 billion.
Third-party broker-dealers increased the number of advisors they deploy by 1.5% and upped the number of financial institutions they serve by 2.6%.
The newly named exec is responsible for relationship management and business development for personal trust, investment management, and private banking in the New York area, Northern New Jersey and Boston.
Bank of America, which last month won approval to lift its dividend for the first time since the financial crisis, said it will suspend that increase and $4 billion of planned buybacks because of an error in its capital planning.
Bigger banks have shifted their efforts to deposit growth in advance of proposed liquidity rules. As a result, community banks are seeing more opportunities to lend, particularly in commercial lines that were once the domain of larger lenders.
Cetera's Catherine Bonneau says most banks should double their advisors. But that gets expensive, so what's the next best solution?
Barclays Chairman David Walker defended bonuses paid to investment bankers, saying the U.K.'s second-largest lender by assets needed to retain talent last year as U.S. competitors stepped up pay.
Two former brokers with U.S. Bancorp Investments and HSBC Securities were banned from the industry for trying to cheat their customers.
The world's securities firms are poised for 10 years of growth, according to Hans-Joerg Rudloff, the former chairman of that business at Barclays.
The number of credit unions offering investment services rose for the first time in five years, jumping 3% to 860 in 2013.
Employees are becoming increasingly engaged and more proactive in their financial planning, according to a new study.
SunTrust Banks in Atlanta said its quarterly profit rose 16% as it made more commercial loans.
The decline was partly due to weather-related events that lowered customer activity across the board, the banks CFO said during an earnings call.
KeyCorp offset lower revenue with cost cutting last quarter.
The broker-dealer was censured and fined for selling unsuitable exchange-traded funds to customers.
PNC Financial Services Group Inc., the second-biggest U.S. regional bank, said profit rose 6.5%, beating analysts estimates, as expenses declined and the company set aside fewer provisions for soured loans.
U.S. Bancorp, the nations biggest regional lender, posted a first-quarter profit that matched analysts estimates as mortgage-banking revenue declined
The Office of the Comptroller of the Currency is likely to make changes to its proposal outlining the "heightened expectations" the largest banks must face after the industry raised concerns that certain provisions could backfire.
The wealth management units of Wells Fargo and Bank of the West are looking to expand their asset-management businesses by entering the lucrative -- and competitive -- New York market. Both banks are opening new offices in Manhattan this year.
Brokerage income at M&T Bank rose in the first quarter, escaping the bad weather impact that seems to have hammered the banks other fee-based business lines.
The San Francisco bank is mainly counting on organic loan growth and improved asset quality to drive future profits, but it would also be open to acquisitions, especially in the credit card in wealth management businesses.
The third-largest U.S. bank cut 200 to 300 jobs in its division handling stock and bond trades to shrink costs amid a slump, according to a person familiar with the matter.
Two former executives of Sonoma Valley Bank have been indicted for their alleged involvement in a $9.5 million fraud scheme.
The new director fills the last of three critical positions in the build-out of the Waterbury, Conn.-based private bank.
Jane Fraser, the new head of Citigroup's U.S. consumer and commercial unit, has promoted William Howle to run its U.S. retail bank.
E.J. Burke, one of the two new co-presidents of the Community Bank, will be responsible for Key Private Bank as well as Keys commercial and business banking segments.
C1 Bank in St. Petersburg, Fla., is betting that its new, above-average "living wage" for all full-time employees will help it attract and retain top-notch workers.
In 2013, fees and commissions from annuity sales produced $3.43 billion in revenue, up 9% from 2012, according to the Michael White Bank Annuity Fee Income Report.
The advisor was suspended for downloading reams of confidential, nonpublic information for more than 2,000 customers of a credit union where he had previously been employed.
Online and mobile banking have forever transformed the way people bank, but the digital evolution has a dark side: it is increasingly creating new opportunities for fraudsters to hack into accounts.
JPMorgan Chase & Co., the largest U.S. lender, agreed to sell its large-market 401(k) recordkeeping business to a division of Canadian life insurer Great-West Lifeco Inc.
The former president and chief executive of Gateway Bank in Oakland, Calif., has been accused of orchestrating a fraud scheme to disguise the bank's crumbling financial condition.
Credit Suisse Group, Switzerland's second-biggest bank, said losses in the fourth quarter were larger than previously reported after it booked more charges for a probe into tax evasion by U.S. clients.
Only 40 banks have their own brokerage units, a mere 2% of the 1,809 banks that offer investment services.
The future of the branch is anyone's guess, but one thing is for sure: RIP teller lines. The new teller-line free branch concepts require staff members to better deliver a brand experience that includes demoing new mobile app features to signing a customer up on a new product.
Jim McNeil moves to Information Inc., another group within SmithBucklin, as his career comes full circle.
A former executive of Weymouth Banks brokerage division and a former representative of M&T Bank Securities were barred from the industry for serious misconduct.
Poll results on if bank branch networks will decrease in the next decade.
M&A has been marked by the pursuit of earning assets in recent years, but banks that have cracked the organic loan growth code are looking to buy deposit-heavy banks before interest rates rise.
The U.S. Postal Service's inspector general defends a proposal - that the Postal Service should get into banking - that has come under fire from many in the financial industry.
The constant monitoring is helping the bank keep tabs on customers' likes and dislikes and stay on top of complaints.
More banks are deciding to invest millions in mobile banking, video tellers and core-processing upgrades after avoiding capital spending for a long time. They says it's a good move for the long term, but some will take heat from investors and other critics in the short run.
Former Bank of America Chairman Kenneth Lewis agreed to a three-year ban on serving as a public company's officer or director and to pay $10 million to settle claims by New York's attorney general that he misled investors about the bank's 2009 purchase of Merrill Lynch.
The Federal Reserve Board denied the capital plans of Citigroup, HSBC, RBS Citizens, Santander and Zions in its second round of stress tests this year.
Nearly 150 million U.S. adults are expected to be banking on their mobile devices by 2018, and lenders can roll out the red carpet with user-friendly apps and modernized branches.
Over the next 12 - 18 months, the bank will introduce the U.S. version of the ultra-high-net wealth management program that its parent, BNP Paribas, rolled out in Europe and Asia.
Big Blue is trying to combine the products of several security-tech companies it has bought in recent years into a fraud detection system that compliance-minded banks want to buy. The challenges facing the vendor and its clients overlap considerably.