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Wells Fargo & Co. agreed to pay $5 million to settle U.S. regulatory claims that its brokerage unit failed to prevent an employee from trading on nonpublic information related to the 2010 acquisition of Burger King Holdings Inc.

Bank of America kicked of a week of community service Monday by announcing plans to invest $325,000 in the work of eight Charlotte nonprofits that help the needy find and maintain affordable housing.

Charles Plosser, a leading inflation "hawk" at the Federal Reserve, announced Monday that he plans to retire March 1.

If you haven’t received one yet, you could be getting one soon: new credit and debit cards embedded with microchips designed to cut down on fraud.

The U.S. government is opposing Bank of America’s request that a federal judge throw out a jury verdict that found it liable for fraud over mortgages sold to mortgage giants Fannie Mae and Freddie Mac.

Bank of America, the Carolina Panthers’ most high-profile corporate sponsor, said Wednesday it’s monitoring the National Football League’s handling of player misconduct issues, but stopped short of criticizing the league or the Charlotte team.

Bank of America and Wells Fargo say their capital levels would remain above regulatory minimums in the event of a hypothetical, “severely adverse” economic downturn.

America’s torrid love affair with the credit card appears over. In its place is a less passionate, more stable relationship.

Apple wants the plastic credit card to become as rare as the paper check.

The Bank of Portugal has appointed a new senior management team to run Novo Banco, a bank which the government wants to sell and recoup the 3.9 billion euros ($5 billion) taxpayers provided to resolve Portugal's biggest financial scandal.

Investors who lost millions to a former hedge fund manager who pleaded guilty to securities fraud last year have filed a civil suit against the financier and the fund’s administrator.

CommunityOne Bancorp chief executive Brian Simpson is stepping down, in a move designed to reduce management costs at the Charlotte-based lender he helped turn around.

NewDominion Bank chief executive John Hipp will retire at the end of the year, the Charlotte-based community bank said on Wednesday.

Spanish banking magnate Emilio Botin, who built the country's Banco Santander into a global financial giant and was widely seen as the nation's most influential business leader, has died of a heart attack, the company said Wednesday. He was 79.

Apple Inc.’s new iPhones are threatening to make the plastic in your wallet obsolete, and that’ll probably still benefit Visa Inc., MasterCard Inc., American Express Co. and the biggest card-issuing banks.

  • More recent business news

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Bank Watch

Five years after a global financial meltdown shook Charlotte, some insiders say banks still vulnerable to risk.


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