IKB Deutsche Industriebank sued Credit Suisse for $160 million alleging fraud and misrepresentation by the lender in the sale of debt securities that were at the heart of the 2008 global financial crisis.

Ping An Insurance Group is seeking a more abrupt break off of the bank's more profitable Asian operations, while HSBC has pledged a slower pivot to Asia while paring its presence in Europe and North America. 

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.

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

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 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.

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.

Inflation, the allure of higher-yielding products, and the collapse of three regional banks contributed to the decline in deposits.

A Jane Doe Epstein victim and the U.S. Virgin Islands are both suing JPMorgan over its ties to Epstein, who was a client of the bank from 1998 to 2013.

As more potential buyers began inquiring about the availability of QCash, WSECU decided the time was right to offload the credit union service organization it launched in 2015.

Fixed-income trading revenue declined 17% in the first quarter, contributing to firmwide revenue that fell short of analysts' estimates. Overall net income dropped 19% to $3.09 billion.

The asset manager on Tuesday is set to begin a monthslong process to help the Federal Deposit Insurance Corp. offload $114 billion of assets it picked up from Silicon Valley Bank and Signature Bank. 

Charles Schwab's underwater securities portfolio has prompted some analysts to lump it together with Silicon Valley Bank. CEO Walt Bettinger says those views are vastly mistaken.

The lender has seen "an increase in organizing activity" by employees working with the Communications Workers of America.

Nathan Cox, who was most recently chief lending officer at Travis Credit Union, will replace Brooke Van Vleet-Pearson as the credit union's chief executive.

First-quarter customer deposits dropped to $325.7 billion year over year, Charles Schwab reports, roughly in line with analysts' estimates. They fell 11% since Dec. 31.

The approval follows a deal brokered by the Swiss government last month for UBS to acquire its distressed rival.

The largest U.S. bank by assets raised its forecast for net interest income in 2023 to $81 billion from $74 billion, a positive sign for investors wondering how an economic downturn might weigh on profits.