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John Bagents succeeds Rick Schmidt, who announced his retirement in May, as president and chief executive.

The acquisition will add $8 billion of assets under management to the Illinois bank's wealth subsidiary. It marks another example of U.S. banks bolstering their wealth management businesses in a bid to collect more fee income.

Republicans and Democrats have made constructive inroads toward drafting a stablecoin bill this Congress. The next Congress needs to build on that progress — and think bigger.

JPMorgan Chase's asset-management arm entered into a deal to acquire more than $1 billion of single-family rentals, a sign that choppy markets haven't scared investors away from suburban housing.

Younger borrowers and those with lower incomes added the most to their card balances in the third quarter, according to a New York Fed report. Delinquency levels are also on the rise, a sign that more consumers are struggling to pay off higher debt loads.

The gain of 3 percentage points in 2022 reinforced industry calls for the agency's mortgage insurance premium to be slashed when the current fiscal year federal budgeting process is completed.

Voyager Digital Ltd. is trying to sign a deal to sell itself to one of the bidders that lost the auction for the bankrupt crypto lender, after the winner of that auction, FTX, was itself forced into insolvency proceedings.

A Federal Reserve Bank of New York unit will partner with almost a dozen banks and other financial institutions to test out digital dollars, a sign that Wall Street intends to push ahead with its cryptocurrency agenda despite recent upheaval in the market. 

The financial institution is offering tools for merchants to make better use of the viral video platform.

The stunning collapse of the cryptocurrency platform FTX is being investigated by federal prosecutors in Manhattan, people familiar with the inquiry said.

Bonus season is looking grim on Wall Street, with year-end incentive pools expected to drop sharply across the finance industry amid a pullback in mergers and acquisitions, persistent inflation and the threat of a potential recession.

Tools used by financial regulators to gauge the impact of climate change on the financial system are probably underestimating the potential damage because of incomplete data and inadequate scenario analyses, according to Financial Stability Board, a watchdog group.

JPMorgan Chase is on the hunt for buyouts to lend to and is hoping to gain market share in leveraged financing after avoiding the dozens of clunkers that have cost competitors billions of dollars.

Goldman Sachs Group paid out well over $12 million to a veteran executive who complained internally about a toxic workplace for women in the highest echelons of Wall Street's most prestigious firm.

Ninety institutions made American Banker's 10th annual list of the Best Banks to Work For. Here are insights about communication, leadership, culture and more from executives at this year's honorees.

Bank of America, JPMorgan Chase and other institutions — including more than two-thirds of honorees that made the Best Banks to Work For — show no let-up in their commitment to add transitioning service personnel. In fact, they're expanding their reach to include military spouses.

Highly acquisitive banks that pack on assets without sacrificing employee morale pepper American Banker's annual Best Banks to Work For rankings.

The CEO of Seattle-based Washington Federal says Luther Burbank Corp. was an attractive acquisition target because it offers an entree into California and has a commercial lending operation that could follow WaFd's recipe for growth over the past decade.

Questions about whether reserve banks are federal agencies and what role the Board of Governors plays in master account decisions should be answered in court, a federal judge ruled.