Retail & Commercial

The Office of the Comptroller of the Currency is expanding efforts to encourage the development of new banking products, announcing Wednesday that it will establish an office of innovation to spearhead research and communication related to fintech.

Prosperity Bancshares' profit took a hit in the third quarter from lower yields on loans and higher expenses.

UMB Financial in Kansas City, Mo., has made changes to incentive compensation for its branch employees.

Ally Financial, one of the nation's largest automobile lenders, saw profits fall during the third quarter as more motorists fell behind on their car payments.

Higher mortgage banking revenue and commercial real estate lending offset merger costs at United Community Banks in Blairsville, Ga., leading to an improvement in third-quarter profit.

UBS is piloting a program with Alexa, Amazon's chatbot. Clients won't be able to ask Alexa about their portfolios yet, but they can ask questions about the economy.

Valley National Bancorp in Wayne, N.J., had stronger quarterly profit that reflected improved revenue.

The latest tale of wrongdoing tied to the financial services industry is the outcome of a smart customer-centered strategy that went awry. Now, bank customers will ultimately suffer the most.

UMB Financial in Kansas City, Mo., reported higher quarterly profit as it continues to makes progress on a multi-year effort to slash expenses.

CEO Tim Sloan said senior executives made a series of mistakes in response to the phony account scandal, including placing too much of the blame on branch employees.