Kristin Broughton

Bank of America has opened a flagship branch downtown and plans several so-called robo branches across the city. It has used a similar strategy to enter new markets in the past year.

The bank says it received an “outstanding” rating on its most recent Community Reinvestment Act examination. Its previous rating, a “needs to improve,” not only was bad publicity but restricted its ability to buy banks.

In some ways the Canadian bank's U.S. consumer business is only now shaking off many of its crisis-era problems here. CEO Darryl White is pinning his retail-comeback hopes on a rejuvenated sales culture and a focus on more profitable customers.

Banks have been in full cost-cutting mode in recent years, but with profits expected to increase substantially as a result of tax reform, all analysts and investors want to know is how they plan to spend their tax savings.

The banks announced bonuses, wage hikes and charitable contributions resulting from the lower corporate tax rate enacted by Congress.

Oriental Bank in San Juan was ordered to pay just over $153,000 for failing to notify borrowers that they were required to purchase flood insurance. The fine was one of several November enforcement actions made public Friday by the FDIC.

Increases in charitable donations will be more important than ever for bank reputations, as tax breaks and a lighter touch from financial regulators rekindle public anger about the financial crisis.

The seven-member council, formed in the wake of the fake-accounts scandal, will advise Wells on social issues, such as diversity, environmental sustainability and the needs of underserved communities.

Peter Scher, global head of corporate responsibility, will join JPMorgan’s operating committee, effective immediately, the company said Thursday.

Fifth Third said it will give a bonus or raise to about three-quarters of its employees while Wells Fargo raised its minimum hourly pay in the wake of Congress' passing a tax reform bill.