Bank channel

Recent legal settlements have compounded big banks' fears about pursuing M&A, U.S. Bancorp chief Richard Davis says.

Banks and credit unions are rewarding their advisors with higher payouts for fee-based business, ranging from 40% to 50%.

BNY Mellon Wealth Management made two senior hires in Boston and San Diego that are part of its recruiting campaign to increase its sales force by 50% by the end of next year.

The Financial Stability Board lowered the proposed surcharge on globally systemically-important banks for Citigroup and Bank of New York Mellon, leaving JPMorgan Chase as the only U.S. institution to face the highest 2.5% capital buffer.

The bank nabbed the assistant research director of GE Asset Management to lead the U.S. equity portfolio team.

The company lost money in the third quarter as it aggressively looked to build assets. At least one investor urged management to take a break from acquisitions during a quarterly call to discuss results.

Bank of America should pay the maximum penalty of $863 million for selling defective loans to Fannie Mae and Freddie Mac, given the egregiousness of the fraud, U.S. prosecutors told a federal judge.

The new directors will oversee business development in Pittsburgh; Westport, Conn.; and Dubai, United Arab Emirates.

“We’re not maniacally focused on how many advisors we have affiliated with the firm,” says Scott Curtis, president of Raymond James Financial Services.

A former JPMorgan Chase banker who managed Bernard Madoff’s account said the con man was on track to receive a $200 million loan less than a month before his arrest if the request hadn’t been dropped.

Many bankers are rethinking their fee structures and the range of services they provide. The trick is to avoid overly punitive fees while offering services that offer value to customers.

Regional and community banks are carving out niches as asset managers by offering perks and personal services to affluent customers whom bigger rivals often overlook.

The firm settled legal disputes with federal regulators tied to mortgage-backed securities for about $335 million.

Advisors in the field, or those who cover multiple bank branches, will be able to electronically transport clients’ documents in an easier format.

Wells Fargo is among firms facing federal scrutiny of mortgage-bond sales under a 1989 law the government is using to extend probes of banks’ roles in the credit crisis, two people with knowledge of the matter said.

Regions Financial, Alabama’s biggest bank, received a subpoena from the U.S. Department of Housing and Urban Development tied to the origination of mortgages backed by the Federal Housing Administration.

The U.S. is in the midst of an economic revolution akin to the Industrial Revolution of the late 1700s and early 1800s, says Raymond James strategist.

Paul Cahill from Virtus Investment Partners notes that 10% returns were a reality for previous generations—but not anymore

Goldman Sachs Group, JPMorgan Chase and Bank of America are among Wall Street firms still catering to SAC Capital Advisors after the hedge fund agreed to plead guilty to insider trading charges.

The sixth-largest U.S. bank by assets said it may be sued by American International Group over mortgage-backed securities that the insurer purchased before the financial crisis.