Wealth management

The Pittsburgh company offset relatively flat revenue and lending in the second quarter with strong service charges, wealth management fees and a $1.1 million reserve release.

Citigroup will let retail customers bet on stocks without paying fees as the bank tries to expand its wealth business in the face of fierce competition from Silicon Valley ventures, discount brokerages and big-banking peers.

The Minneapolis company has agreed to buy PFM Asset Management. Like many in the industry, it is hunting for additional sources of noninterest income.

Credit Suisse Group and JPMorgan Chase’s asset and wealth management business are working together to develop a new investment strategy focused on sustainable nutrition.

The deal follows JPMorgan’s recent takeover of 55ip, a fintech that focuses on helping investors cut their tax liabilities.

Rohit Chopra, who was the Consumer Financial Protection Bureau's first student loan ombudsman, is expected to crack down on unfair debt collection and other practices once he is confirmed by the Senate to lead the bureau. Observers predict he'll work closely with former CFPB Director Richard Cordray, who now oversees the Education Department’s $1.7 trillion portfolio of federal student loans.

Amerant Bank has invested $2.5 million in Marstone to provide a digital alternative to personal wealth advisors for new and existing clients. The technology "gets planning capabilities into the hands of any customer that wants them," says Jerry Plush, the Florida bank's new CEO.

How the pandemic is accelerating trends in financial advice and changing the way Americans manage their money.

Julie Caperton, a longtime executive at the $1.9 trillion-asset bank, succeeds Julia Wellborn, who left the company in April.