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Wealth management lifted the firm's bottom line, as the unit's revenues rose 11% over the past year and it hauled in assets across multiple channels.

A House hearing showcased a bipartisan consensus on the need to regulate stablecoins, but the parties disagree down to the definitions, making the legislation's future uncertain.

Alphv developers claimed responsibility for an attack that started last week against the payments and digital banking software maker. The ransomware is more sophisticated than many of its peers.

The move includes five senior executives and is part of MUFG's expansion to support pre-IPO growth and middle-market public companies.

The card network's ambition to add services has led it to work alongside companies like JPMorgan Chase, Jack Henry & Associates and Stax.

Home loan applications dropped for the second time in three weeks, with the 30-year conforming interest rate ticking up 13 basis points, according to data from the Mortgage Bankers Association.

The Gardner-based institution hired Mark Hettinger, who worked the past 19 years at First Alliance Credit Union, as its new chief executive.

Government officials indicated their preference for appointing a Swiss banking heavyweight to run the combined bank during the weekend when the rescue deal was negotiated.

The bank continues to relocate staff following a pause during Covid-19 and is also in the process of moving some products, she said.

The head of the Council of Federal Home Loan Banks argues that the special lien status of Home Loan bank advances, created by legislation in the 1980s, is largely irrelevant in today's marketplace.

The Dallas-based bank, whose shares have slumped 19% this year, laid off the staff last week, according to a spokesperson.

The recent failures highlighted that regulation has to be applied consistently for all banks and financial intermediaries, according to Orcel.

Morgan Stanley's investment bank and its giant wealth unit surpassed analysts' expectations in the first quarter even as profits fell from a year earlier, dragged down by a drop-off in dealmaking and a jump in loan-loss provisions.

Securities and Exchange Commission Chairman Gary Gensler emphasized the connection between the cryptocurrency market and the recent banking crisis in testimony on Capitol Hill. He seeks more resources to police crypto firms whose business model, he says, is "noncompliance."

The Tennessee bank confirmed in its earnings report that the deal, already delayed by several months amid heightened regulatory scrutiny, likely would not close by a May 27 deadline. No new target date has been set.

With once-in-a-generation levels of inflation whittling away at their savings, Americans are once again beginning to fall behind on payments, bank earnings show.

After seeing deposit increase over the second half of March, CFO Dermot McDonogh restated the New York custody giant's guidance for a 20% year-over-year jump in spread income, hinting the company might actually overshoot its target.

Headcount at the nation's second-largest bank has fallen by around 1,000 since the end of last month. More job reductions are in the works after noninterest expenses rose by 6% during the first quarter.

As the Wall Street giant continues to scale back its consumer banking ambitions, the point-of-sale loan provider that it purchased in 2022 could be the latest target. And CEO David Solomon said there might be more moves ahead.