Discover says it could long face consequences of compliance problems
The embattled credit card company, which is bracing for regulatory action, made clear Thursday that heavy spending on risk management and compliance will continue. Executives also said that the search for a permanent CEO will look at both internal and external candidates.
Wells Fargo preps for wealth battle after $1 billion turnaround
Barry Sommers, the wealth management chief CEO Charlie Scharf brought in, is expanding after fixing up the unit; "Five years from now the independent channel will be our biggest channel."
Northwest’s CFO search, Plains State’s new small-business portfolio
Northwest Bank starts search for new CFO; Plains State Bank acquires wealth management, tax businesses; Bank of America names new heads for North America industrials banking; and more in the weekly banking news roundup.
Muni-price fixing suit inches closer to settlement with Wall Street
The lawsuits alleged that banks including Bank of America and Goldman Sachs — acting as remarketing agents on the securities — failed to get the best rates for issuers.