Retail & Commercial

Deutsche Bank is raising the base pay of Supervisory Board Chairman Alexander Wynaendts by 21%, Wells Fargo has hired Neil Ghosh as head of chemicals investment banking, Bank of America's Alexandre Bettamio is being considered for chief executive officer of Brazilian stock and derivatives exchange B3 SA, and more in this week's banking news roundup.

In a strategic shift, the Walnut Creek-based company has tapped a trio of former PacWest executives to fill its top three management positions.

A trade group representing debt collection agencies alleges that the Golden State is charging unlawfully high licensing fees in an effort to fund an inflated budget. California regulators declined to comment on the suit.

Oil rights can be a surprisingly illiquid asset. A fintech called Frontlands is hoping to change that by offering a credit card for the owners of oil wells and other natural resources.

The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence.

The Mortgage Bankers Association found gains in March for conforming, jumbo and government-sponsored loan indices for the third consecutive month.

Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.

Organizers of the Winter Park-based Portrait Bank said they exceeded their capital-raise target by a wide margin, clearing the path for a June soft launch.

Banks' core ledger systems are a sclerotic holdover from the past. The future belongs to the banks that set them aside and allow transactions to close in real time.