Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.

Gains in the retail division helped drive overall profit to a record for a fifth consecutive quarter as mortgage activity surged and provisions for bad loans posted a surprise drop from the first quarter.

Low rates spur more retail lending at big U.S. banks as trading revenue drops; the company’s plan to create its own digital currency runs into more opposition.

The offering would mirror a similar move by Charles Schwab to offer clients a new pricing plan for its robo service.

The interim CEO told analysts Tuesday that the company remains committed to hiring an outsider who isn't connected to its scandals of recent years.

Other executives are being considered, too, but the list is dwindling as JPMorgan’s Gordon Smith and other big names are said to be out of the running. Meanwhile, senior Wells executives have pushed to keep interim CEO Allen Parker.

Some large banks, including Bank of America and JPMorgan Chase, will increase dividends and stock repurchases by double digits.

The results clear the way for bigger dividends and stock buybacks at big banks; State Street agreed to pay $88 million to settle claims it overcharged clients.

In a year where most of the 18 institutions taking the second round of the Federal Reserve's stress tests showed improvements over last year, JPMorgan Chase and Capital One were both forced to adjust their capital plans in order to meet the central bank's minimum thresholds.

By creating a close tie between digital debit cards and the major third-party mobile wallets, Bank of America is doing something few banks are — and expecting a payoff in broader use of digital financial services and “top of wallet” spending.

The decision follows similar moves by rivals JPMorgan Chase and Wells Fargo.

By creating a close tie between digital debit cards and the major third-party mobile wallets, Bank of America is doing something few banks are — and expecting a payoff in broader use of digital financial services and “top of wallet” spending.

"We're going right at Bank of America, folks, in Charlotte, their hometown," JPMorgan Chase CEO Jamie Dimon said to cheers and laughter at a branch opening in midtown Manhattan. "We've been waiting a long time to start the expansion of Chase retail."

Brad Goedken wants agreements for HarborOne Bancorp to include better protections, such as cost reductions if a service fails.

A new set of tougher scenarios did little to keep large banks from passing the most recent stress tests mandated by the Dodd-Frank Act.

Banks are increasingly turning to outsiders like Nikki Katz, a former Disney executive now at Bank of America, and Joel Kashuba, formerly of Procter & Gamble and now at Fifth Third, to help build their digital experiences.

Even relatively wealthy Americans are so worried about their finances that it's affecting their mental and physical health. That's one of the findings in a Bank of America survey of more than 1,000 people in the U.S. who have enough investable money to qualify as "mass affluent."

Organized crime groups are selling access to the computer networks of financial firms like Bank of America Corp. and hacking tools targeting these companies, according to a British researcher who posed as a buyer on several dark web marketplaces.

The U.S. economy is on solid footing except for one potential trouble spot, according to Bank of America's Chief Executive Brian Moynihan: leveraged loans — a business the bank has dominated for a decade.

John Rosenfeld once led the A-Team of a free-fall parachute unit. Now he's taking a different kind of leap, spearheading the creation of the institution’s first digital-only bank.