Revenue from the fixed-income trading business was little changed from a year earlier, disappointing analysts who had expected an increase.

The San Francisco-based bank warned for months that charge-offs were likely to start rising as some office-related loans went bad. It began to happen in the fourth quarter, which could be an omen for regional banks that have larger concentrations in the office sector.

In 2023, the four giant banks raked in $253 billion in NII , about $80 billion higher than 2021's total. Now, most banks see rate cuts coming, all while they have to pay more on deposits or risk losing customer savings to higher-yielding options. 

The company spent $15.8 billion in the fourth quarter, down 2% from a year earlier, while analysts had estimated an 11% drop. Severance expenses and a special deposit insurance assessment contributed $3 billon to that total.

Executives at America's largest banks are making rosier predictions about the financial health of U.S. households than they were a year ago, when their forecasts proved to be overly pessimistic.

The vote by workers in a New Mexico branch is the first union victory at a megabank in decades, though unionization efforts at another Wells branch took a step back.

Across the industry, the pace of branch shutdowns slowed this year. Still, large financial institutions continued to trim their physical footprints, with two super-regional banks taking the most aggressive actions.

The KBW Bank Index soared 9% over two days on the heels of the Wednesday afternoon meeting, its best such rally in nearly three years.

The Ohio Democrat is pressuring the CEOs of JPMorgan Chase, Bank of America, Citigroup and Wells Fargo to proactively provide financial benefits to active-duty service members. Those protections are enshrined in a 2003 law, but many service members do not seek them out.

Sloan is seeking to force Wells Fargo to honor multiple canceled stock awards and a bonus he says he was promised, according to a complaint filed Friday in California state court. He's also seeking unspecified damages for, among other things, emotional distress.

The longtime Most Powerful Women in Banking honoree looks back on her four-decade career and how the industry has changed for women.

JPMorgan Chase now tops Wells Fargo in third-party servicing, origination volume and on-balance-sheet home loans, according to company filings.

The San Francisco-based bank reported $13.1 billion in net interest income in the third quarter, up 8.3% from a year earlier, and raised its full-year guidance. Noninterest expenses rose more than expected, though, totaling $13.1 billion in the quarter.

Barry Sommers, the wealth management chief CEO Charlie Scharf brought in, is expanding after fixing up the unit; "Five years from now the independent channel will be our biggest channel."

It's still too soon to say exactly how the use of advanced artificial intelligence will be restricted in financial services, but banks are developing strategies mindful of potential policies.

The company is paying $75 million in penalties and restitution in connection with SEC allegations that its investment advisory arm overcharged customers it inherited in its Wachovia acquisition in 2008. The settlement is said to show the importance of conducting extensive compliance checks in a rapidly consolidating industry.

The Attorney General's office found the firm complies with a 2021 state law banning contracts with companies that "discriminate" against the firearm industry.