Retail & Commercial

How to use, govern and adopt AI were some of the main themes from the Monday event.

The nation's second-largest bank reported strong growth in net interest income, revenue and profits. But analysts continued to express concern about unrealized losses, which swelled to $131.6 billion.

The two megabanks continue to shrink their branch networks, with BofA planning to close 20 locations and Wells recently shuttering 15. Both banks are also opening new branches in certain markets.

Goldman Sachs said that its partnerships with Apple and General Motors are hard to exit in the short term. So the investment banking giant is concentrating on making the deals profitable, even as it acknowledges that they may not be a long-term fit.

The servicer said it entered into the consent order "without admitting any wrongdoing, to avoid the expense and distraction of litigation."

Higher interest rates, deposit flight and looming credit losses were roiling the banking industry a few months ago, but so far banks seem to be weathering the storm. That doesn't mean things can't get worse.

The movement of cash to money market funds from bank accounts will diminish lenders' ability to finance small and midsize firms, BlackRock Investment Institute said in a new paper. BlackRock and other money managers have spent much of this year readying to fill that void.

Net income was $2.06 billion in the third quarter, down 33% from a year earlier, amid sluggish banking activity, real estate write-downs and questions about whether dealmaking will rebound.

Far more than most people, financial services professionals ought to understand the compounding crisis of climate change.

The second-largest U.S. bank says net interest income, a key source of revenue for the bank, rose 4.5% to $14.4 billion in the third quarter.