The Most Powerful Women in Banking

Businesses need to shift focus away from millennials and toward the next age group, which is expected to be so demanding that business processes will have to be overhauled, says Julia Carreon, the bank's managing director of digital and fiduciary operations.

In the Fed's quest to bring inflation back to its 2% target, Gov. Brainard recommended pursuing a policy she called “flexible inflation averaging.”

The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries.

Bank of America says in a 23-page report that it has boosted the percentage of women and people of color among senior management and hired thousands of people from low- and moderate-income communities.

Avid Modjtabai, who runs Wells Fargo's payments and technology innovation unit, is leaving the firm as new Chief Executive Officer Charlie Scharf continues to shake up top management.