Practice and client management

The agreement will likely end a three-year-old dispute over allegations that the company misled borrowers by promising no hidden fees on its consumer loans.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

The global company says that a quicker-than-expected economic recovery is creating some opportunities to invest in businesses that will generate returns over time.

For the first time, the FDIC, Federal Reserve and OCC have combined efforts to advise banks on risk management procedures when working with nonbank partners.

Hafize Gaye Erkan, the San Francisco bank's president, will share the chief executive role with longtime leader James Herbert, whose contract was extended through 2022.

As attitudes about corporate responsibility evolve, regulators will expect banks to take a more proactive approach to environmental, social and governance issues. That means going beyond assessing climate-related risks to incorporate a focus on ethics, culture, inclusion and customer protection.

Wells Fargo said it’s shutting down all existing personal lines of credit and will no longer offer the product to its customers.

The issues associated with environmental, social and governance policies cut across all the traditional concepts of risk facing bank executives and will endure for years.

U.S. retail customers who said their primary bank met their needs for guidance gave it much higher grades, according to J.D. Power’s annual survey.

CEO Richard Fairbank told employees they can continue to work remotely on Monday and Friday, though the company is still encouraging them to “spend meaningful time” in the office collaborating.

The federal government is developing plans to require public companies to notify investors of climate and other environmental, social and governance-related risks. Lenders must take steps to understand the underlying issues and ensure borrowers disclose their own ESG exposures.

It is possible for financial firms to value the future of the planet and lift up marginalized communities while still generating strong returns for shareholders. Here's how.

A 2017 investigation into the fake-accounts scandal — conducted by the board of directors with a major assist from the law firm Shearman & Sterling — was billed as independent and objective. Was it?

HSBC Holdings is set to announce the sale of its French retail unit to the private equity firm Cerberus, putting an end to a lengthy sale process that began more than 18 months ago.

While most financial institutions have been focused on upgrading their digital channels, Andrews Federal Credit Union in Maryland listened to its customers and modernized its newest branch. Among the new features are video teller machines, touch screens offering online and mobile banking tutorials and a game area for children.

Wall Street’s pandemic-era trading boom could be drawing to a close, with JPMorgan Chase CEO Jamie Dimon signaling a 38% decline in trading revenue from a year ago — a bigger drop than previously expected.

Brian Doubles, who became the card issuer’s chief executive in April, also expressed optimism that pent-up consumer demand will spur renewed spending this year.

Fitch says it will be weighing failures of management standards and practices at banks more heavily when considering possible downgrades. ESG advocates are cheering the development.