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Morgan Stanley's investment bank and its giant wealth unit surpassed analysts' expectations in the first quarter even as profits fell from a year earlier, dragged down by a drop-off in dealmaking and a jump in loan-loss provisions.

Securities and Exchange Commission Chairman Gary Gensler emphasized the connection between the cryptocurrency market and the recent banking crisis in testimony on Capitol Hill. He seeks more resources to police crypto firms whose business model, he says, is "noncompliance."

The Tennessee bank confirmed in its earnings report that the deal, already delayed by several months amid heightened regulatory scrutiny, likely would not close by a May 27 deadline. No new target date has been set.

With once-in-a-generation levels of inflation whittling away at their savings, Americans are once again beginning to fall behind on payments, bank earnings show.

After seeing deposit increase over the second half of March, CFO Dermot McDonogh restated the New York custody giant's guidance for a 20% year-over-year jump in spread income, hinting the company might actually overshoot its target.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

As the Wall Street giant continues to scale back its consumer banking ambitions, the point-of-sale loan provider that it purchased in 2022 could be the latest target. And CEO David Solomon said there might be more moves ahead.

The blockchain company is working on a model for central bank digital currencies that it hopes will make it easier to transact across borders.

The FDIC seems poised to let small banks off the hook for replenishing the deposit insurance fund after Silicon Valley Bank and Signature Bank's failures last month. But regulators should remember that small banks can still pose systemic risks.

Inflation, the allure of higher-yielding products, and the collapse of three regional banks contributed to the decline in deposits.