Record loan originations and strong growth in wealth assets under management more than offset a double-digit increase in expenses at the San Francisco company.
Readers weigh in on the use of blockchain in property records, Mulvaney's efforts heading the Consumer Financial Protection Bureau, the need for financial standards in banking and more.
The Pittsburgh company reported a 39% gain in retail banking profits amid a lot of strong first-quarter numbers, yet it still fell short of analysts' earnings expectations by a penny and wants to push for stronger loan growth.
Revenue increased 2.8% to $18.9 billion thanks to gains in equities trading and other factors, but the bank still wants to improve its efficiency ratio, which could get harder as the year goes on.
Acting CFPB Director Mick Mulvaney took heat from Democrats on whether he planned to take the agency's consumer complaint portal private while responding to Republican fears that its data collection activities pose a data security risk.
