Instead of reaping the extraordinary gains promised by many banks, reverse convertibles fell 1% on average, according to data compiled by Bloomberg.

Renewed growth in asset management will help lift the fund administration business this year, Confluence has predicted.

Consumers' evaluation of banks' reputation has fallen four points since February, to 77 points on the biannual BAI/Finacle Index of Bank Sentiment.

USAA will be eliminating 265 home sales and lending positions, but it already has offered nearly 100 of the affected workers different jobs within its mortgage unit.

The CEOs of Fannie Mae and Freddie Mac are stepping down because the job they were hired to do — return the GSEs to profitability — is done. But attracting top-flight candidates to lead the mortgage giants into a new phase may not be easy.

Already tasked with fixing Wells Fargo's scandal-plagued retail bank, Mary Mack has added a second big job: running a consumer lending operation that is dealing with reputational issues of its own.

They may look different, but for opening accounts, serving small businesses and satisfying consumers' need for cash, branches remain essential.

Financial firms can minimize the damage by understanding where key threats lie, educating employees and customers about phishing scams, and breaking down silos between compliance, fraud and security teams.

Randal Quarles, the Federal Reserve's vice chair for supervision, says the central bank was wise not to require banks to build capital cushions in the lead-up to the pandemic. But that decision rested on a misleading a narrative and could wind up threatening the economic recovery.