BofA gets $1.21B penalty for money laundering

Tuesday, October 13, 2026

The Treasury Department and Office of the Comptroller of the Currency Tuesday announced that they had found the bank had processed over $5 billion in unreported suspicious transactions and committed hundreds of sanctions violations.

Citi doubles asset inflows, edging closer to profit goals

Tuesday, October 13, 2026

With rising assets and improved ROTCE — return on tangible common equity — Citi checks off goals for its wealth management unit.

What 2 RIAs get right about training new advisors as shortages loom

Tuesday, October 13, 2026

OpenArc and SageSpring have created internal pipelines of next-generation talent through mentors and team-based approaches, rather than instructing the firms' early career advisors to "eat what you kill."

Goldman's Solomon wants 'clear human accountability' on AI

Tuesday, October 13, 2026

Goldman Sachs CEO David Solomon has usually been upbeat about artificial intelligence and its benefits to the U.S. economy. On Tuesday he was more focused on its dangers.

Solid consumer results at Wells Fargo propel larger profits

Tuesday, October 13, 2026

Though the banking giant reported more loans and deposits, along with benign credit quality, a dip in fee income dented its third-quarter results.

Inflation likely to spark more rate hikes: Boston Fed's Collins

Tuesday, October 13, 2026

Although the economy is "resilient" and unemployment remains low, inflation is susceptible to higher fuel costs and AI data-center spending, the president of the regional reserve bank said.

Visa makes progress in China, but still faces hurdles

Tuesday, October 13, 2026

U.S. payment companies have struggled to gain a foothold in China, but Visa has made progress, receiving approval from the People's Bank of China to prepare to establish a domestic card clearing business in the world's largest payment market. But it still has to apply for a full operating license.

Stripe broadens the connection between AI shopping and payments

Tuesday, October 13, 2026

AI "discovery" platform Constructor has integrated with the payments company in an effort to make it easier for AI agents to find and then pay for products as consumers increasingly rely on bots for shopping and payments.

Why Citi remains cautious on key profitability metric

Tuesday, October 13, 2026

The megabank increased its return on tangible common equity target for 2026 by less than some analysts had hoped. The move sparked questions about whether fourth-quarter results are likely to be disappointing.

Bankers grapple with liability when AI agents mess up

Tuesday, October 13, 2026

Lead Bank, the tech startup Primitive and others are working to define who's accountable in situations where AI agents make mistakes in banking and payment transactions.