Credit Suisse, State Street and several other banks are experimenting with a blockchain technology that could allow them to make corporate deposits more affordable to hold on their books.
As market forces redefine much of the industry, similar to the effects of disruption in the retail sector, regulators should be embracing new banking models.
The obvious impact of the Trump administration's moves to undermine the Affordable Care Act will be on consumers in nongroup insurance, but they also carry consequences for all lenders.
Wells Fargo took a surprise $1 billion charge in the quarter for previously disclosed pre-crisis, mortgage-related regulatory investigations. It contributed to a 19% fall in profits.
The ratings agency said its systems were not compromised, but it is taking precautions on reports of an attempted hack; new MIT-backed comapny to rate financial firms on vulnerability to financial crime.
Total revenue rose less than 1% to $21.8 billion, but expenses declined 2.5% to $13.1 billion. That computed to the highest profit at Bank of America in six years.
Men really should take more paternity leave. B of A's Cathy Bessant talks about lessons learned, from Equifax and from career setbacks. And Wells Fargo's Diane Schumaker-Krieg reminds us all that one tenet of effective management is rest.
