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Federal Reserve Board Chair Janet Yellen sounded at least open to the idea that new regulations have contributed to potential liquidity problems, but said more study is needed.

The Consumer Financial Protection Bureau's massive collection of consumer data continued to raise concerns with lawmakers on Wednesday despite assurances from the agency's director that the data is anonymized. Lawmakers also voiced worries that the agency is inappropriately targeting auto dealers.

Bank of America is trumpeting the doubling of its profits in the second quarter as a payoff from its long cleanup efforts. But the results relied mainly on lower legal costs and expense savings, while revenue declined in four key business lines.

WASHINGTON — Senate Democrats unveiled a bill Wednesday that would require banks and debt buyers to ensure that a consumer's credit report is updated when debt is extinguished through bankruptcy.

Big banks with innovation labs see them as a way to improve the customer experience and to test new ideas in an industry facing disruption. Skeptics see potential for waste.

PacWest Bancorp, the parent of Pacific Western Bank in Los Angeles, reported earnings of $85.1 million in the second quarter, up 16% from the prior quarter.

Peoples Bancorp in Ohio wants to encourage cross-selling but limits the use of employee incentive payments to make it happen. Instead, Peoples is trying to build a corporate culture in which employees understand all of its products and want to help their colleagues sell them.

Google is firming up plans for a feature that allows consumers to buy products directly from a retailer's ad on a mobile phone, part of a Silicon Valley-driven trend that would place card issuers at a disadvantage.

Federal Housing Administration endorsements continue to rise following the 50-basis point cut in January.

Santander Consumer USA Holdings named Blythe Masters nonexecutive chairman, replacing the executive who quit the post less than two weeks ago and a week after the subprime auto lender's parent company was hit with a regulatory order.