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More Bank Earnings; Trouble Brews Abroad

Bank of America, the second-biggest U.S. bank by assets, said second-quarter profit fell 21% as it took an accounting charge and posted a decline in wealth management revenue.

Earlier this year, the Federal Deposit Insurance Corp. (FDIC) narrowly avoided disaster when sensitive information for 44,000 agency customers was stored without proper security measures…on a personal storage device.

U.S. Bancorp could see a slight uptick in revenue in its payments business after the U.K.'s decision to leave the European Union, Chief Executive Richard Davis said on a conference call Friday.

The $348 million-asset bank said in a press release Friday that Cuy Mauck will also become president when Roger Kepley retires in January.

Citigroup executives were at pains to explain the benefits and challenges of a new partnership with Costco that has netted the bank millions of new credit card customers but also added to its cost burden in the second quarter.

Carver Bancorp in New York will likely report a loss for fiscal-year 2015 after restating its results. The company disclosed in a regulatory filing that the error is tied to the accrual of expenses related to invoices paid to its core system service provider.

PacWest Bancorp in Los Angeles reported lower quarterly profit as higher expenses offset gains from fees and loan growth.

The hit smartphone game Pokemon Go taught banks a lesson in mobile strategy this week: gamify it.