The banks disclosed this week that they are under scrutiny for conduct that may have harmed consumers. The timing raises questions about whether the Consumer Financial Protection Bureau under President Biden is poised to bring more enforcement actions against large banks than it did under Trump-appointed Director Kathy Kraninger.

Ta is aiming to reduce turnover at Wells Fargo Advisors by revamping the succession planning program.

A group representing bank directors says the regulator’s sudden attempt to increase penalties by millions of dollars would set a dangerous precedent.

Profits slumped last year and many investors are now voicing their displeasure with the compensation awarded to senior leaders. A nonbinding “say on pay” vote taken Tuesday passed narrowly, but Chairman Charles Noski indicated that the board will take the results into account when designing future pay packages.

The agency’s cases against David Julian, Claudia Russ Anderson and Paul McLinko, which allege culpability for the bank’s phony-accounts scandal, are scheduled to go to trial in September.

Wells Fargo wants to use the real-time payments network being developed by the Federal Reserve for 24/7 liquidity management. The online-only First Internet Bank aims to use it to help customers manage their bills and cash flow.

Called by House and Senate Democrats, the hearings with the heads of the nation's six largest banks will take place over two days and will likely examine the industry's response to the pandemic and efforts to address climate change and racial equity.

Business owners have shown little interest in taking on debt during the pandemic. Will their attitudes change as the economy improves?

Net income was boosted by a $1.6 billion release of loan-loss reserves.

The San Francisco company has now backed 11 minority-owned banks as part of a $50 million pledge it announced last year.