Lehman Brothers Holdings Inc.'s bankruptcy estate sued JPMorgan Chase & Co. Wednesday, alleging it illegally siphoned billions of dollars from Lehman in the days before the troubled investment bank filed the largest bankruptcy in U.S. history.

Sallie Krawcheck, president of Bank of America Corp.'s global wealth division, told the company's Merrill Lynch brokers that neither she, nor their compensation system, are headed out the door.

The company announced Tuesday that Jim Fletcher, a portfolio manager with more than 25 years of experience, has joined First Republic Private Wealth Management in Newport Beach, Calif.

Fannie Mae and Freddie Mac issued proposals Monday to create pilot programs for loans on mobile homes, part of an ambitious plan for underserved and rural housing markets.

In an attempt to show it went all out to help struggling homeowners, the embattled mortgage servicer Ocwen Financial provided an unusual level of detail about foreclosures it says regulators have deemed "inappropriate."

Freddie Mac's serious delinquency rate dropped below 1% for the first time since 2008, lending credence to its efforts to expand credit access.

A variety of new tools and strategies are emerging to manage payroll, billing, balances and cash management, says Bank of America's Karen Ly.

All parts of the payments industry can preserve cash, but mandates may be necessary, says Moorwand's Luc Geuriane.

Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey.