A wide swath of banks, from Fifth Third to SunTrust to Huntington, report big increases in refinance applications in the past few days as mortgage rates have dipped. Will it last?
New York regulator Benjamin Lawsky may use the cybersecurity rules he's proposed for virtual-currency companies as a model for traditional banks. That would subject the financial institutions his agency supervises to the most stringent data-security rules anywhere.
How do the services you offer compare to what clients of advisors across the industry are receiving? A new study of 4,000 advisors by Cerulli Associates tracks the planning services clients receive across all advisor channels.
Looking at the range of services received by clients in all advisory channels, traditional wirehouses take the lead in catering to high-end client needs, according to research from Cerulli Associates.
The global economy faces its biggest test of confidence since the European sovereign debt crisis as investors fear its running out of engines.
Deutsche Asset & Wealth Management lured away a managing director from J.P. Morgan.
Bank of America said wealth management profits were up 13% year-over-year and reported an increase in its advisor ranks.
The company reported that profits for its Global Wealth & Investment Management division, or GWIM, which includes Merrill Lynch and U.S. Trust, increased to $813 million for the third quarter from $720 million a year ago.
The two hires are part of the firm's campaign to increase its business development teams in key wealth markets.
Cetera plans to announce an expansion of its relationship with Broadridge, a provider of investor communications and technology, to streamline its self-clearing process.
JPMorgan Chase set aside 3% less to pay employees at its investment bank in the first nine months of 2014 as revenue in the division slumped, driven by a 12% drop in fixed-income trading.
James Katayanagi allegedly created fake ATM cards and used them to swipe more than $14,000 from eight bank customers.
To obtain approval and funding for security improvements, bank technologists have to make their case by pointing to losses from recent security breaches. But calculating those losses can be tricky.
There's almost no good way of tell a bank customer that her personal data's been stolen. But some banks do a particularly bad job of communicating during a security incident.
Treasuries fell for the first time in five days as investors weighed the probable timing of Federal Reserve interest-rate increases before speeches by U.S. policy makers today.
People and processes are just as essential as technology as banks strive to save on costs in newer store models, say branch-makeover specialists.
Almost two in three credit unions with single pay plans reported difficulty in recruiting advisors. Those with multiple plans had significantly less trouble.
Goldman Sachs Asset Management and Pacific Investment Management say Treasuries are poised to fall as the Federal Reserve approaches the end of its bond- buying stimulus program.
Several banks, such as Woodforest National, operate extensive branch networks inside Wal-Mart stores. There are concerns that the retailer's new GoBank checking account could gut in-store branches' current business.
The pullback from repurchase agreements: How new regulations are reshaping bank funding and financial markets, and impacting money market funds, which investors use as cash-equivalent investments.
Janet Yellen is an unlikely revolutionary. Here are four key insights into why Yellen's success at the Fed matters and what it means for other women.
The American Bankers Association, which initially opposed ".bank" domain names on the Web, is now promoting them as a way to enhance security amid growing cyber risk concerns.
Investors betting on a rebound in Russian stocks are piling into the benchmark exchange-traded fund for the market at the fastest pace in six months.
In a speech Tuesday, U.S. Bank CEO Richard Davis offered mostly upbeat views about the evolving, more stringent expectations of bank regulators.
Barclays hired Akshaya Bhargava as chief executive officer of its wealth and investment management business to replace Peter Horrell, who stepped down.
Beth Mooney cares more about her legacy than she does about being the first female CEO at a top 20 U.S.-based bank. One of her primary goals is to make sure KeyCorp always does right by its customers.
One of the three allegedly stole $11,134 from a bedridden customer who suffered from multiple sclerosis.
Designing comp plans with many grid levels is one way credit unions can boost advisor productivity, according to a report from Kehrer Bielan Research & Consulting.
Ane S. Plate was banned for allegedly looting more than $140,000 from a customer account.
The firm hired another wealth director for business development, the second such director it hired in Pittsburgh this year.
Two former advisors from Fifth Third Private Bank are joining LPL's broker-dealer and custodial platforms as an independent hybrid firm, StreamSong Advisors.
The Minneapolis-based bank has added three wealth management advisors and one senior trust officer to the Chicago office of the Private Client Reserve.
Two days after Apple unveiled its attempt to advance mobile payments, CFPB Director Richard Cordray cited the burgeoning field as a key area of concern his agency needs to examine.
Big banks are still avoiding bank M&A, but the reasons are evolving. Plenty are still looking inward, while others are focusing on buying fee businesses. U.S. Bank CEO Richard Davis says he doesn't want to be burdened with an integration when the economy takes off.
BB&T is back in the business of buying banks for the first time in several years, even though most of its peers think regulators are opposed to big-bank M&A. BB&T's investments in compliance improvements make its executives feel confident about getting new deals done, CEO Kelly King says.
Morgan Stanley, the best-performing stock among the largest Wall Street banks since the end of 2012, will rise at a slower pace over the next year as the current price anticipates the firm reaching its profitability goal, said David Konrad, a Macquarie Group analyst.
Banc of California has announced extensive community reinvestment goals as part of its planned purchase of 20 Banco Popular branches in Southern California. The agreement, which appeased a community group that had opposed the sale, shows how much power such organizations wield when it comes to M&A.
More banks are considering switching to a universal banker model, where selling products and services becomes more important. The transition requires patience, planning and training.
Credit Suisse Group added private banking to its operations in Toronto as the lender seeks to win business from Canadas wealthiest individuals.
Some leaders of large community banks like are eager to line up the next big deal. Others seem content to steal lenders and open offices after several years of acquisitions.
The Justice Department's recent $16.6 billion deal with Bank of America over crisis-era mortgage fraud has raised fresh questions over a perceived lack of transparency in the settlement process.
A large cybertheft against JPMorgan Chase and other big New York banks is said to have started with a break-in on an employee's computer at home. It serves as a reminder that big problems can start in small places and that banks need to take more steps to minimize the damage from hacker attacks.
Pamela Grace Musiimire was barred for allegedly attempting to bamboozle two customers.
The head of debt investment at Norways $880 billion sovereign wealth fund, the worlds largest, said a rally in U.S. corporate bonds may be coming to an end.
Sen. Richard Shelby isn't new to Banking Committee leadership, but he would face a crucial ticking clock if he returns as chairman of the panel next year.
Wells Fargo advisor tries unsuccessfully to convince his elderly client that he hadn't won a $5 million lottery and that the whole thing was really a scam.
An improved economy, hint of potentially higher interest rates and changing demographics are all aiding a lending rebound in the southern and western parts of the United States.
Bank holding companies generated $1.57 billion in insurance brokerage fee income in the first quarter of 2014, down 8.4% year-over-year.
In addition to key races important to the banking policy agenda, the larger contest for which party controls the Senate could also affect legislative efforts relevant to the industry.
Nobody wants to think about the prospect of failing mental capability, but it's an issue that clients need to address if they're to be fully prepared for retirement.
Bank of America must pay a record amount for mortgage-related claims, but the accord still leaves questions about tax liability and other banks in the government's crosshairs.
A generation shift could also create issues for community banks that are in search of fee income.
HomeTrust Bank faced a legal challenge from HomeTown Bank after it entered southwestern Virginia. The now-resolved dispute serves as a reminder that banks must be aware of branding challenges when they enter new markets.
Like a few other banks with similar initiatives, Wells Fargo is not counting on a financial return for its new accelerator program. Rather, it's looking for more intangible benefits.
Branch managers in Ferguson, Mo., are coping with modified hours and the presence of law enforcement and the Missouri National Guard. Bankers are dedicated to staying open in an area where branches are particularly important to customers.
Mutual-to-stock conversions are facing new hurdles, as evidenced by events at a pair of Massachusetts mutuals. Depositors at Beverly Bank recently rejected its proposed conversion, while Reading Co-op Bank changed its bylaws to make it more difficult to convert.
Trying to woo Hispanic clients? Talk to them about simple, low- or no-risk investment products.
Deutsche Bank has hired two executives to oversee technology and operations.
The Connecticut company was an early adopter of branch modernization, starting an effort four years ago that has led to the closure of underperforming locations, enhanced digital offerings and use of universal bankers.
The coming year expects to be hectic for banks' regulatory teams as a bottleneck of new rules come due, including everything from the proprietary trading ban to Basel III to a new mortgage disclosure framework.
Banks including JPMorgan Chase, Citigroup and Morgan Stanley have been notified regulators are preparing enforcement actions on currency rigging, people familiar with the investigation said.
Diebold, best known as an ATM manufacturer, is rebranding and diversifying itself and promoting its consulting services on a popular banking topic: how to redefine branches as sales and service hubs.
Both were booted from the brokerage industry for misappropriating customer funds.
The Canadian bank's viral YouTube clip comes as the industry struggles to use social media effectively.
The North Charleston-based credit union chose CUSO Financial Services to expand its 18-year-old investment program.
Brendan John Osweiler was barred this week for attempting to swindle an elderly customer, according to FINRA.
The brokerage and insurance units of Compass Bank were ordered to cough up money to compensate an elderly couple for duping them into buying one too many annuities.
President Obama became the latest policymaker to wish he could make the regulatory system simpler and more efficient. Yet there are powerful reasons why it will never happen. Here's why.
UBS is considering buying a wealth-management firm in Brazil as it seeks to expand that business sevenfold by 2020, said Sylvia Coutinho, chief executive officer of the lenders Brazil unit.
Barry Milinovich was expelled for allegedly stealing $10,100 from a bank customer's savings account.
The Fed is trying to change as little as possible as it crafts its strategy to exit from record stimulus. The trouble is financial markets have changed so much that the still-developing plan may prove costly and ultimately unworkable.
Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., continued to press their case over "too big to fail" in the wake of a new government report that raises fresh questions about the size of a market subsidy for the largest institutions.
Most bankers expect to see deposits flow out of their coffers next year if interest rates rise as expected, and some are starting to estimate how many. Whether the trend is good or bad depends on each bank's specific situation, but everybody has to get ready.
Swiss banks will on the whole meet the deadline for delivering information on offshore accounts to the U.S., improving their chances of settling with the Justice Department this year.
UBS is facing more than $600 million in damage claims filed by Puerto Rico investors in closed-end bond funds, the bank said in its second quarter earnings report Tuesday.
The new "SendMyDocs" app helps clients who live far from their bank or credit union as well as the advisors trying to serve them.
UBS AG said the U.S. Securities and Exchange Commission has been investigating its dark pool since early 2012, the first time the Swiss bank has acknowledged the probe now in its third year.
Will GAO take into account the impact of the legislative and regulatory changes that have occurred since the passage of the Dodd-Frank Act?
Community banks need to rethink their technology and marketing to ensure they are snagging a piece of the millennial generation. Big banks have the lead in reaching this demographic, but they are vulnerable, experts said.
Deutsche Bank hired James Dilworth, chief executive officer of Allianz Global Investors Europe, to lead management of active assets.
Ion Bank has been using interactive teller machines, which let customers conduct video chats with tellers, for more than a year. The technology has helped some of its branches stay open for business 27 hours longer per week without overspending.
The Massachusetts Democrat unsurprisingly defended the financial reform law, yet also indicated he disagreed with regulators on implementation of some elements and a push by Sen. Elizabeth Warren to restore Depression-era rules separating banking from other industries.
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.