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The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a sharp rise in provisions for future losses.

If Congress wants to provide better access to banking services for low-income and rural Americans, it would be wise to consider financial services partners that operate under a not-for-profit model.

The bank — which said it has been upgrading its loan operations platform after a review it undertook last year — said it mistakenly transmitted the payments after an employee didn't manually select the correct system options in its loan operation software.

If Trump is reelected, his administration would likely move forward with privatizing Fannie Mae and Freddie Mac and relaxing key rules, while a Joe Biden presidency would likely try to expand homeownership access and borrower protections.

A borrower advocacy group is asking federal banking regulators to investigate PayPal and Synchrony Financial, which partner on a product that is used to offer high-cost education financing.

The agency said national banks could close offices “at their discretion” as a safety precaution if they are affected by fires in California and Colorado.

By one method of estimating, Wells Fargo has missed out on roughly $4 billion in profits — and counting — since the cap was imposed, and it's unclear when the Fed will lift it.

The Minneapolis company, like other banks, moved its program for college students online because of the coronavirus pandemic. Here’s a look at what improved and what was lost.

Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls.

Part of the coronavirus’s economic story is the sudden boom in installment payment services — a sure sign of consumers and merchants wanting a haven from revolving debt. But the rush to simpler credit is also a reflection of how the crisis has changed the way people are living and managing their lives.

The Fed's faster payments platform may well roll out in three or four years, but by then it will already be outdated.

The GOP is unlikely to discuss much policy that affects financial services this week during its national convention, though there could be remarks addressing controversial changes to the U.S. Postal Service.

The Federal Reserve could ease capital rules, foster the creation of special-purpose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.

The St. Louis company is gaining a sizable Small Business Administration platform and several niche deposit teams. Keeping those specialists in the fold will be key to the acquisition's success.

When customers contact Wells Fargo, its artificial intelligence system goes to work; what American Express is getting with it purchase of Kabbage; Fannie, Freddie refi fee will wipe out millions in mortgage profits; and more from this week's most-read stories.

Amazon.com Inc. has named logistics boss Dave Clark chief executive officer of its retail business.

The election of Mark Chancy continues a trend under CEO Charlie Scharf of adding directors with deep experience in the banking industry.

Wirecard, which is trying to sell pieces of its embattled company while rivals pick up its clients, has struck a deal to sell its U.K. division, Wirecard Card Solutions, to Railsbank, an open banking and payments technology firm.

If the U.S. Postal Service can hold talks with big banks, like JPMorgan Chase, about offering financial services in post offices, then it could easily strike up similar conversations with credit unions.

Discover Financial Services and Bank First in Wisconsin, two of the many companies that went all-remote with their annual meetings this year, gave the process high marks. But the longer-term prospects industrywide are unclear.