The three custody banks had been projected to post weak second-quarter results because of a lull in foreign exchange trading. Then Brexit happened, and everything changed.

Wells Fargo plans to pilot a digital advice platform in early 2017, according to a high-ranking executive at the wirehouse.

Bank of America, the second-biggest U.S. bank by assets, said second-quarter profit fell 21% as it took an accounting charge and posted a decline in wealth management revenue.

Republicans balked at measures like an overdraft fee ban and interest rate cap in the recent stimulus bill, but Sen. Sherrod Brown, D-Ohio, isn’t done trying to add such proposals to future relief packages.

By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on.

Tenants have threatened to suspend payments during the pandemic to pressure officials into providing rental assistance, but the effects on multifamily loans would compound concerns about servicers' liquidity and, ultimately, lenders' performance.

Banks in the U.S. tend to exist for about half the life span of the average human being. It doesn't have to be that way.

The National Credit Union Administration is addressing two of the main reasons why new institutions aren't being formed — making it easier for the organizers to raise the required capital and easing the burden of the application process, says Todd Harper, the agency's chairman.

Edward M. Lamont's biography of his grandfather, Thomas W. Lamont, who advised presidents and extended credit to foreign nations as JPMorgan & Co.'s chief executive in the first half of the 20th century, will be rereleased in paperback this fall. Given that more concise, analytical histories of the banker have been published since, this long tome may have been better left collecting dust.