Investments

The bank's head of investment management said Wednesday that his unit has eliminated dozens of high-cost funds over the last two years and replaced them with more passive and enhanced actively managed funds.

Banks and startups compete for the same clients, as customers want one source for online checking and investment accounts.

Only 15% of bank customers at Bank of America use its online investment platform, but the company expects that figure to increase as it opens branches in nine major cities.

Banks are extending maturities and making loans to riskier credits to boost volume; banks cut their muni holdings as tax rates drop.

The OCC finds that Wells Fargo was not alone in its sales abuse practices (though it's not naming names); Fifth Third's Tim Spence is our Digital Banker of the Year; the CFPB acting director wipes out the agency's Consumer Advisory Board; and more from this week's most-read stories.

U.S. banks reduced their holdings of state and local government bonds for the first time since 2009 after the federal government slashed corporate tax rates, according to figures released by the Federal Reserve Thursday.

Agency says it wants “smaller memberships to ensure streamlined discussions;” the bank hired a U.K. firm to help it better defend against cyberattacks.

Brand Group in Georgia was mulling a public offering but it opted to test the waters as a seller first. That decision led to one of the biggest bank deals announced this year.

Most big banks are launching robo-advisers to compete for a new breed of wealth management customer. The risk is that automated services will disappoint traditional customers.

Despite Tuesday's blip, many banks have seen double-digit gains in the months since the Dodd-Frank reform law was unveiled. There's good reason to think the run-up will continue.