Schwab and Big Banks Slide as Vanguard’s Altruist Deal Raises AI Threat in Wealth Management
Vanguard’s reported $4B–$4.6B Altruist deal revived fears that AI will disrupt brokerage custody and idle client cash that funds broker profits.
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Bank of America CEO Warns of Weaker Investment-Banking Fees in Q3 as Shares Slide
BofA’s Q3 capital-markets outlook cooled: investment-banking fees down over 10%, trading roughly flat. Shares led bank-stock declines.
Banks That Once Fought Stablecoins Are Now Planning to Issue Their Own
CRCL shares fall after the WSJ reports that banks once opposed to stablecoins—such as JPMorgan and Bank of America—are now exploring their own.
Strong Trading and Investment Banking Drive Bank of America’s Q2 Profit Jump
BofA posted robust Q2 2026 earnings, beating expectations with $9.1 billion profit and 33% growth in sales & trading. Equity trading surged 70% as market volatility boosted activity.
JPMorgan, Bank of America, and Peers Eye Fiserv Debit Network in Bid to Reshape Payments
Several top U.S. banks are discussing the purchase of Fiserv’s debit card processing network. They hope to escape strict fee rules and make more from every debit swipe.
Bank of America Delivers Best EPS in Nearly 20 Years
Bank of America Q1 2026: profit up 17%, revenue up, trading and deals strong, beat forecasts, solid growth across all businesses.