Wealth management units have been a surefire source of fees for banks over the last few years, as low rates dragged down spread income. But a policy change will likely be a crucial test to the business model.

Wealth management revenue has been a bright spot on bank earnings for the last few years, but regulatory changes to the way advisers can charge for their services will likely dramatically change the business.

Ally Financial announced Tuesday that it had agreed to buy the online brokerage firm TradeKing Group for approximately $275 million. TradeKing, based in Fort Lauderdale, Fla., has roughly $4.5 billion in client assets.

The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.

The Fed’s decision to cut its benchmark interest rate amid growing coronavirus concerns is bound to have an impact on banks, but just how broad and how deep remains to be seen.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to contribute $502.2 million to two funds that help preserve and build affordable housing.

The Federal Reserve's much-awaited Basel III proposal would raise capital significantly for the largest banks, a move that neither the international agreement nor the moment requires. Somehow that square is going to get circled.

The decision to allow lenders to review only two credit reports for mortgage applicants will harm homebuyers with less than perfect credit.

U.S. financial institutions should look to the U.K. for tips on fighting real-time payments fraud.