Retail & Commercial

Bank of America's second-quarter profit soared after its core Wall Street businesses exceeded analysts' expectations.

The companies are both tapping the U.S. investment-grade primary market, kicking off a potential deluge of fresh bank bonds in the wake of second-quarter earnings.

Scully, who founded and then eventually sold Howard Bank, will help the Rockville, Maryland-based Capital expand its footprint in the Washington, D.C., metro area.

An executive with the Federal Home Loan Bank of Chicago pushes back on a BankThink article criticizing the Mortgage Partnership Finance program.

The New York megabank benefited duing the second quarter from strong revenue growth in its giant credit card business, which helped overcome headwinds in wealth management and investment banking. But executives indicated that the script could soon flip.

If regulators push forward with plans to strengthen capital requirements for banks with more than $100 billion of assets, the nation's largest bank says, the cost of credit would rise and more consumers could seek out nontraditional lenders.

Visa wants to expand in-car payments tech; Citizens Financial installs president to oversee growing California market; undergrads win banking competition and more in the weekly banking news roundup.

The bank's allowance for losses on commercial real estate loans jumped to $3.6 billion in the second quarter — up 64% from a year earlier. The negative forecast could portend trouble for smaller banks that have bigger exposure to the office sector.

The New Jersey institution has hired Jeanne Scungio, a veteran banker who ran First Republic Bank's New York operations, to oversee its expansion into the Big Apple.

The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.