Consumer banking

Many bankers say they’re more comfortable with using artificial intelligence behind the scenes, but others — including Synchrony and Wells Fargo — insist AI can be used to interact with customers if it’s deployed properly.

Wells Fargo named Steve Troutner head of the community bank's U.S. Western region, one of the unit's most senior outside hires since a scandal over bogus accounts erupted more than two years ago.

"I don't and I never would discount the European banks," Citigroup Chief Executive Officer Michael Corbat said in an interview at the World Economic Forum in Davos. "Don't overestimate the U.S. banks' position, and don't underestimate the European banks' position."

The nation’s fifth-largest bank now has the financial flexibility to consolidate more branches in existing markets and open new, smaller ones in cities where it has no retail presence, CEO Andy Cecere said.

Retail banking loans rose 5% at Bank of America, which also reported a 3% increase in consumer deposits and a 12% leap in net interest income in consumer banking.