Wealth management

The student loan giant fell far short of Wall Street's expectations, but its leaders say President Trump's "Big Beautiful Bill" is likely to bring it billions of dollars in new business.

A huge percentage of Americans, particularly Gen Z and millennials, score poorly on financial literacy tests, with predictable consequences. AI-powered agents would help empower them.

How banks can cater to this desire to prioritize experience spending and support customers to do more of what they love

Executives at the New York bank said that strategic activity has started to pick up over the last month. Morgan Stanley also reported second-quarter revenue and earnings that beat analysts' expectations.

Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.

Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.

Megadeal activity picked up in June.

Truist Financial is bulking up its commercial and corporate banking arm by hiring senior executives from rival firms and promoting from within; F.N.B. Corp launches a $46 million-dollar community development program focused on Main Street revitalization; buy now/pay later lender Affirm extends its partnership with Moore Capital through May 2027; and more in this week's banking news roundup.

Lenders have been an underdog in the broader market's rally. Now, with stress-test results and the easing of bank capital rules on the horizon, there's a chance for bank stocks to break out.

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."

The Consumer Financial Protection Bureau is restricting its civil penalty fund from paying for consumer education and financial literacy programs.

Commerce Bancshares agreed to pay around $585 million to acquire FineMark Holdings. It's the Missouri bank's first bank deal in 12 years.

The Federal Reserve Board banned a former relationship banker in Arkansas after he was caught stealing customer funds; Benchmark Federal Credit Union plans to merge with Franklin Mint Federal Credit Union to form a $2.1 billion-asset institution; Robin Vince, CEO of Bank of New York Mellon since 2022, has been elected chairman of the board; and more in this week's banking news roundup.

The bank's head of self-directed investing reflects on how her career has progressed at Brown Brothers Harriman, Goldman Sachs and now J.P. Morgan.

Goldman Sachs joins its Wall Street peers in expanding in the region to tap its deep pools of capital.

The Cincinnati-based bank has partnered with the fintech Trust & Will to make estate planning easy, accessible — and free.

The Connecticut-based community bank announced a raft of new board and executive appointments, giving shape to a new strategy aimed at winning more business from high-net-worth individuals.

Standard Chartered Bank hired a new head of digital assets, Europe and Americas; Provident Financial Holdings has a new chief financial officer; Bank of America is opening four branches in Boise, Idaho; and more in this week's banking news roundup.

The bank, which expanded into the U.S. last year by investing in KeyCorp, wants to provide wealth management to rich Indian immigrants, many of whom own businesses.