Investors are looking past the current boom in loan activity, fearing that inflation and other factors will cool demand and make it harder for borrowers to make payments.

Visa has long been Chase's dominant credit card-issuing partner, but Mastercard is making noteworthy inroads, underscored by Chase's new Mastercard-branded DoorDash credit card.

The San Francisco bank announced the hiring of a nine-member team led by Merrill Lynch veterans Harold Reinstein and Michael Nelson. First Republic reported 26.4% growth in wealth management revenue during the second quarter.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.

Bipartisan legislation co-sponsored by Reps. Lance Gooden of Texas and Peter Welch of Vermont would require large banks to support at least one network other than Visa or Mastercard. Banking industry groups argue that it would help big retailers at the expense of consumers.

The president referred to so-called bank junk fees in remarks that echoed Rohit Chopra, the director of the Consumer Financial Protection Bureau, who has sought to crack down on excessive charges.