Retail & Commercial

As market forces redefine much of the industry, similar to the effects of disruption in the retail sector, regulators should be embracing new banking models.

Wells Fargo took a surprise $1 billion charge in the third quarter for previously disclosed pre-crisis, mortgage-related regulatory investigations. It contributed to a 19% fall in profits.

Total revenue rose less than 1% to $21.8 billion, but expenses declined 2.5% to $13.1 billion. That computed to the highest profit at Bank of America in six years.

Men really should take more paternity leave. B of A's Cathy Bessant talks about lessons learned, from Equifax and from career setbacks. And Wells Fargo's Diane Schumaker-Krieg reminds us all that one tenet of effective management is rest.

Rising losses and chargeoffs at JPMorgan Chase and Citigroup could be an indication of future trouble at other banks. Still, executives are bullish on cards and argue that the loss rates are logical consequences of rate hikes and attempts to expand card business.

Banks such as Citigroup, Regions and TD have decided they need to offer mobile customers truly customized experiences. They are experimenting with different ways of doing so that come across as helpful without being intrusive.

Bob Ramsey, who had worked for FBR Capital Markets for more than a decade, will handle investor relations and strategic planning at Customers.

HUD Secretary Ben Carson said he's held off making any decision on premium cuts until the confirmation of key appointments. "It has been a real ordeal getting people in place," he said.

Consumers are looking for high-tech services, not just higher deposit rates, in deciding where to park their cash, a top JPMorgan executive said in discussing the company's explosive deposit growth in the third quarter — and whether it will continue.

The company had strong gains in construction lending and trust fee income, but its business lending operation had flat results.