Eager to escape more scrutiny and red tape from regulatory reform, some hedge fund managers are closing shop to concentrate on managing money for themselves, relatives and essential employees as unregistered family offices.

Bank of America Corp.'s head of U.S. wealth management, Lyle LaMothe, is retiring after 24 years at Merrill Lynch, according to an internal memo.

BNY Mellon Asset Management has promoted Gabriela Parcella to chief executive of Mellon Capital Management Corp., and hired Bart Grenier as chairman and CEO of Boston Company Asset Management LLC.

Several new members of the House Financial Services Committee with backgrounds in housing could use their experience to address Chairman Maxine Waters' top agenda items.

A security lapse left millions of mortgage records exposed online without proper data protections, according to security researchers.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, wants the panel to look into how Britain's move to leave the EU – which has rankled credit unions across the pond – is impacting the U.S.

A supervisory letter detailing their failings in assessing exposure to a collapsed hedge fund suggests that the Federal Reserve believes banks are falling short in basic risk management.

The data from these transactions could help millions of borrowers with thin or nonexistent credit files. But how the credit reporting industry collects and treats the data may matter more than the data itself.

The Federal Reserve's models assume interest rates will decline if the economy falls into a recession, but as big banks prepare for their annual stress tests, they should also be considering the impact of rising rates and higher inflation on their operations.