The Bank of America Merrill Lynch offices in the financial district, also known as the Square Mile, on January 24, 2017 in London, England. Two of the most vaunted names in banking are fading into retirement. Bank of America said Monday it will gradually retire the U.S. Trust brand to become the Bank of America Private Bank. The move is part of CEO Brian Moynihan's "one-company" strategy to more closely align the bank's various businesses and branding. The company will also no longer use the...

Denmark's largest bank is the object of scrutiny by U.S. law enforcement over allegations of money laundering flows from Russia and other states, The Wall Street Journal reported Friday, citing a person familiar with the matter. The investigation, by the U.S. Justice Department, the Treasury Department and the Securities and Exchange Commission, is related to transactions at Danske Bank's Estonian branch over multiple years through 2015. The WSJ had previously reported the bank was looking at...

J. P. Morgan Chase is reportedly working on a spin-off of its main blockchain project in part to get a wider audience for it. The report, by the Financial Times, said the bank developed its blockchain technology called Quorum two years ago for clearing and settling derivatives and cross-border payments. A spin-off of Quorum would highlight the difficulties Wall Street firms often have after developing new technologies for the industry but failing to get much outside adoption as an in-house...

Eastman Kodak is joining the cryptocraze. The 130-year-old company said Tuesday it has used blockchain, the technology underpinning popular digital currencies such as bitcoin, to create a new platform for digital photography with its own digital currency, called KodakCoin. The site, called KodakOne is "a new economy" for photographers to license their work and receive payments, the company said. Shares of Kodak more than doubled Tuesday, closing at $6.80. They were also trading 5.8 percent...