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Wells Fargo & Co.'s first-quarter net profit fell 16% to $2.5 billion. Revenue dropped to $21.5 billion. Bad-loan provisions rose to $5.33 billion from $4.56 billion a year earlier, while non-performing assets rose to 3.49% from 1.25% last year.

State and federal regulators are accusing Regions Financial Corp. and two of its executives of committing fraud in the pricing of several bond funds. Authorities seek to recoup about $2 billion lost by investors.

Bank of America Corp. reports a fourth-quarter loss of $194 million on revenue of $25 billion. Separately, Wells Fargo & Co. swung to a fourth-quarter profit of $2.82 billion, compared to a loss of $2.73 billion a year ago. Revenue soared to a record $22.7 billion.

Byline: ROBIN SIDEL AND MARSHALL ECKBLAD FINANCIAL SERVICES Washington, industry in step on stress tests The criteria that the U.S. government is using to assess the financial health of the [...]

Byline: MARSHALL ECKBLAD AND JOE BEL BRUNO AND MAXWELL MURPHY; Dow Jones Newswires NEW YORK -- Citigroup Inc. has laid plans to get its shareholders' house in order. The New [...]

Byline: MARSHALL ECKBLAD; Dow Jones Newswires NEW YORK -- Bank of America Corp. may be too big to fail, but that doesn't mean its shares are guaranteed to rise. After [...]

Byline: MARSHALL ECKBLAD AND DAVID ENRICH; Robin Sidel contributed to this article. Shares in Citigroup Inc. rose for a third consecutive session yesterday, even as other bank stocks fell, after [...]

Kenneth D. Lewis, the former chief executive of Bank of America Corp., has responded to the civil fraud lawsuit filed against him by Andrew Cuomo, the New York Attorney General. He denies wrongdoing. The suits alleges that Lewis mislead shareholders about mounting losses at Merrill Lynch & Company Inc. prior to its acquisition by Bank of America.

Judge William Alsup, in the U.S. District Court of Northern California, has ruled in a class-action suit against Wells Fargo & Co. that the company improperly assessed customers bank millions of dollars in overdraft fees and order the bank to pay compensation of $200 million.

Bank of America Corp. is being sued over its acquisition of Merrill Lynch & Company Inc.. Ohio Attorney General Richard Cordray has filed and amended lawsuit on behalf of five pension funds, alleging the company's directors and executives concealed losses prior to the acquisition.