Wells Fargo

Businesses need to shift focus away from millennials and toward the next age group, which is expected to be so demanding that business processes will have to be overhauled, says Julia Carreon, the bank's managing director of digital and fiduciary operations.

CEO Charlie Scharf said in a letter to Congress that a review is underway to determine how many customers were affected by confusion over monthly fees and that the bank will begin issuing refunds next year.

Scott Powell, who resolved numerous regulatory problems as the head of the Spanish bank's U.S. operations, will face similar challenges at scandal-plagued Wells. As the bank's chief operating officer, Powell will report to CEO Charles Scharf, a former colleague at JPMorgan Chase.

One-time expenses at a handful of large banks marred an otherwise solid quarter, while higher charge-offs point to possible credit-quality concerns.

The bank is testing the emerging technology with IBM in an effort to speed up risk analysis and derivatives pricing.