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Michelle Bowman, a former community banker and now the Kansas banking commissioner, was one of two Federal Reserve Board nominees announced by the White House on Monday. President Trump also nominated Columbia University Richard Clarida as vice chair.

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's numbers may do little to change their minds.

Many large internationally active U.S. banks are facing potentially hefty fines if they fail to comply with Europe's General Data Protection Regulation, which takes effect May 25 and gives consumers much more control over how their data is gathered, used and shared.

The addition of a personal finance app rounds out the loan and deposit-account offerings at the online lender Marcus.

Following a series of high-profile merchant defections, the Plenti multi-merchant rewards program will end on July 10. The program's treatment of merchant exclusivity may have proven too limiting.

A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

Expanding SBA funding and providing additional Community Reinvestment Act credit could help boost female entrepreneurs.

Bank of America Corp. hit a milestone in its years-long effort to get costs under control.

The cashierless Amazon Go concept is inspiring fear in traditional U.S. retailers, but the idea is already mainstream in China — with one chain opening 300 locations in just two years.

Financial institutions in the U.S. are not only under tremendous pressure to determine how they’ll become a part of the new Federal Reserve-driven faster payments ecosystem, but also what the shift to immediacy will mean to their current operating model, long-term strategy, and future relevance to consumers and corporates, writes Bruce Lowthers, COO at FIS.

Comptroller of the Currency Joseph Otting took office only late last year, but he is wasting little time in tackling a series of hot-button topics, including easing anti-money laundering regulations and lowering national bank fees.

The bank revealed Friday that it is facing hefty regulatory penalties and will likely have to restate first-quarter earnings. Declines in loan balances and fee income and questions about upcoming stress tests are only adding to investors' worries.

Bankers hoped the tax overhaul would stimulate a boom in business borrowing, but several said this week that hasn’t happened yet. PNC’s Bill Demchak warned that the tax cuts could be encouraging lenders to underprice loans.

During earnings calls, bankers praised regulators' latest efforts to modify capital rules. JPMorgan Chase CFO Marianne Lake, meanwhile, called on policymakers to focus on overhauling the G-SIB surcharge.

Bank regulators propose to allow banks to phase in capital treatment of credit losses over three years.

Over the past week, regulators have proposed the most substantial changes to capital requirements for the largest banks in years, but the most startling thing was how unremarkable they were.

Banks should rethink even existing services, such as the branch experience, said top executives at the Oracle Industry Connect conference.

Amber Baldet is exiting JPMorgan Chase to start her own venture, and another female executive is taking charge of the blockchain effort. BofA makes major progress on digital mortgages and gets gun-shy after Parkland. Plus, GM’s one-sentence dress code.

The bill, which also exempts community banks from the trading ban named for former Fed Chairman Paul Volcker, would go a step further than the regulatory relief bill that passed the Senate.

The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business.