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The San Francisco-based bank is proactively managing its loan portfolio and working with borrowers to restructure terms with the goal of helping clients and minimizing risk, CEO Charlie Scharf said.

The founders of Vesey Ventures are most interested in startups that want to play nice with the giants of the banking and payment industries.

Carrie Tolstedt, the longtime head of retail banking at Wells, is resolving legal problems tied to her role in the bank's phony-accounts scandal. Earlier this year, she agreed to plead guilty to a criminal charge as part of a deal that calls for up to 16 months behind bars.

Once it is free to issue new debt, the Treasury Department is expected to quickly replenish its general account at the Fed. The move could lead to a shortage of reserves.

Banks with between $50 billion and $250 billion of assets leaned particularly heavily on the Federal Reserve and the Federal Home Loan banks amid deposit outflows in March and April, according to new research that quantifies the scramble for funding.

Wells Fargo & Co. has hired Credit Suisse Group's Jill Ford as head of its equity capital markets business.

The Consumer Financial Protection Bureau released fourth-quarter data last week showing a big drop in revenue from overdraft and nonsufficient-funds fees in 2022 compared with 2019 as big banks reduced or eliminated certain fees.

The banking goliath is continuing to execute its four-pillar technology investment strategy, CIO Lori Beer said at its investor day.

Comerica's shoddy handling of its Treasury contract to manage Social Security and veterans benefits — including outsourcing fraud claims to a vendor in Pakistan — is emblematic of how the banking industry treats the poor.

A muted dealmaking environment has dented revenues across Wall Street.