Scharf, a former Visa CEO and JPMorgan executive, succeeds Gerald Hassell as leader of Bank of New York Mellon.

Expenses also rose, as well as the provision for loan losses, but credit quality remained spotless at the lender to the wealthy.

The app allows users, many of them first-time investors, to get started for as little as $5.

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

Credit unions added more than $176 billion to savings balances in the first half of the year, according to new analysis from Callahan & Associates.

This isn’t the first time the industry has faced an influx of funds amid a slowdown in lending, but this instance could prove harder to manage than in the past.

The CFPB's plan to block medical debt from appearing on credit reports will have damaging unintended consequences, limiting consumer access to both credit and health care.

Banks need to mount an aggressive legal response to the onslaught of intrusive new rules being promulgated by their prudential regulators.

The use of digital wallets to finance the Hamas attack on Israel highlights the need for tighter controls on the transfer of cryptocurrencies.