Bank of America Corp.'s Merrill Lynch unit must face a group lawsuit by union and public employee retirement funds over mortgage-backed securities, a federal judge ruled.

California has picked TIAA-CREF to manage its college savings plan that has about $4 billion of assets.

Investors would rather pay commissions for the financial advice they receive than a fee based on assets under management, according to Cerulli Associates.

Bankers are downplaying such concerns, but others say a sharp decline in values on rent-regulated buildings means landlords will have less cash flow to acquire new properties.

The Delaware company, best known for issuing prepaid cards, has ramped up commercial real estate securitizations. The shift promises to deliver big fees, but it could also cause headaches if defaults spike.

Some believe the administration will delay action on Fannie Mae and Freddie Mac to avoid any political fallout. Others say the window for reform is closing.

Even the newest technological innovation cannot beat personal interactions when it comes to forging a deep and meaningful association with clients, which typically lasts for years.

In "Limitless," the journalist Jeanna Smialek explores how the Federal Reserve has gone beyond its more traditional monetary policymaking to a more activist role of addressing societal problems.

The idea that banks might be unmanageably large ignores the fact that the U.S. is full of well-managed firms that are far bigger than even the largest banks.