Custody banks

Though the Senate regulatory relief bill falls well short of a far-reaching House bill, critics argue it could still increase the chance of another bank bailout by the government and weaken consumer protections. Here are the measures causing the most debate.

Lawmakers on Tuesday continued debating a thicket of proposed additions to a crucial regulatory relief bill on their way to a final vote likely to occur as early as midweek.

The Japanese cryptocurrency exchange Coincheck says roughly $400 million of the digital currency NEM was stolen. If banks and others are to invest in the digital-asset industry, it will have to do better.

The Chicago custody bank won new fund-administration business and benefited from the acquisition of a UBS asset-management unit. A one-time adjustment tied to the new tax law also provided a boost.

The new tax law took a one-time bite out of fourth-quarter results, but higher rates strengthened yields and new business boosted fee income.

BNY Mellon plowed some of its tax law savings into restructuring efforts.

Rather than forming a consortium of peers to investigate blockchain technology, as many banks have done, one of the world's largest asset managers is acting on its own.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg on Tuesday opposed efforts to roll back “core reforms” to bank regulation that were implemented after the 2008 financial crisis, but said some review of the Dodd-Frank law is warranted.

In his first major move as CEO, Charlie Scharf has made several management changes at Bank of New York Mellon.

Ronald O’Hanley withdrew from law school at Vanderbilt University in 1983 after admitting to plagiarism while editor-in-chief of the school’s law review, according to a news report.