Since the start of the month, the San Francisco-based bank has announced the addition of three wealth management teams — one each from Merrill Lynch, JPMorgan Chase and Wells Fargo.

The acquisition will add $8 billion of assets under management to the Illinois bank's wealth subsidiary. It marks another example of U.S. banks bolstering their wealth management businesses in a bid to collect more fee income.

The regional bank's play for a piece of the wealth management pie, under wraps for more than a year, has a unique twist.

Mortgage rates rose this week as investors priced stronger than expected inflation and jobs affecting Fed moves into the 10-year Treasury.

Unintended consequences of shifting the burden for title insurance to the lender could end up harming consumers, several observers said.

In a study posted weeks after it raised concerns about "junk fees," the Consumer Financial Protection Bureau noted that the amount of borrowers paying discount points doubled from 2021 to 2023, with the increase larger among consumers with lower credit scores.

Efforts to shoehorn the Credit Card Competition Act into pieces of popular legislation need to be defeated. The proposed law would harm the small businesses and consumers it purports to help.

Congress is considering major changes to federally supported student loan programs. If lawmakers aren't careful, they could close off a vital pipeline of talent that feeds vital public systems.

Bank regulators should be in the business of proactively encouraging innovation in financial services, rather than taking a reactive stance that focuses on punishment.