Receiving Wide Coverage ...

A Look Behind the Curtain: The Fed held a video conference in March to discuss whether to ditch its 6.5% unemployment rate target. The Financial Times said the meeting helped shape the Fed's decision later in the month to adjust its position on forward guidance. The policymakers were concerned that their decision would be misunderstood. Meanwhile, Fed officials are worried about persistently low inflation.

Another B of A Settlement: Bank of America agreed to a $772 million settlement with regulators, including the Consumer Financial Protection Bureau. Regulators had determined that B of A misled customers about products designed to make them feel more secure about their finances. The CFPB flagged the company for "illegally" charging for credit monitoring services it did not provide.

Speaking of Settlements…: Jamie Dimon used his annual letter to investors to discuss the pain JPMorgan Chase suffered in a year filled with various settlements. He also discussed how regulation could make certain loans, like revolving credit, more costly, or force JPMorgan Chase and other banks to stop making those products available to clients.

Unwinding: The Treasury Department sold a 20% share in Ally Financial, continuing efforts to unwind stakes it took on during the financial crisis, and raising $2.4 billion for the government. The Wall Street Journal touched on the relatively low pricing of the IPO.

Wall Street Journal

More banks are investing in mobile banking services. A recent study by Javelin Strategy & Research found that, on average, it only costs a lender 10 cents for a mobile transaction, compared to about $1.25 average for ATM transactions. "Mobile banking is emerging as a critical weapon in the battle to retain customers and cut expenses," the article said.

An FDIC study offered hope to community banks, noting that there are more banks with $100 million to $1 billion in assets now compared to 30 years ago. American Banker also covered the study, which found "overstated" consolidation fears.

Financial Times

Debate over funding advantages for big banks continues, after the Clearing House Association, which represents JPMorgan Chase, Bank of America and others, released findings of a study that found big banks' funding advantages disappeared last year. Other entities, ranging from the Fed to the IMF, have claimed that the largest banks still have funding advantages.

New York Times

DealBook reports that investment banks continue to tell junior employees to ease up and take more personal time. The catch? The companies are not easing up on the workload, forcing their employees to move their schedules around to get the job done.

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