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One bright spot: Wells Fargo is returning gobs of money to shareholders thanks to the corporate tax cut and a clean bill of health from the Fed's stress tests . The bank said it plans to raise its dividend by 10% and buy back up to $24.5 billion of stock.

Still, Wells Fargo's results stand in stark contrast to America's biggest bank. JPMorgan Chase ( ) said on Friday its profits Adidas By Stella Mccartney animal stripestyle tote bag Clearance Release Dates High Quality For Sale Buy Cheap Supply For Nice Online Buy Cheap Amazing Price mpncDIew75
thanks to the "healthy" US economy. That's just shy of JPMorgan's first-quarter haul of $8.7 billion -- which was a record for any US bank.

Related: Wells Fargo accused of misconduct again

Even though the economy is strong, several crucial metrics at Wells Fargo are shrinking.

For instance, average deposits dropped by 2% to $1.3 trillion, led by a drop-off in business from financial institutions. Wells Fargo blamed the decline on actions it had to take due to penalties imposed by the Federal Reserve that prohibit the bank from growing its balance sheet.

Lending, the primary way that banks make money, also dipped by 1% from the first quarter at Wells Fargo. It cited declines for commercial real estate and consumer loans, including auto lending. Mortgage banking profits also declined sharply.

Meanwhile, Wells Fargo is spending heavily to try to win back the trust of customers. The bank recently launched an expensive ad campaign on television, radio and online. Wells Fargo said its advertising and promotion spending jumped 51% last quarter.

It's been a very difficult nearly two years for Wells Fargo. A wave of controversy, kicked off by the Classic Salvatore Ferragamo medium Amy tote Sale Largest Supplier mSDCr8D
, have hurt Wells Fargo's reputation, raised its legal expenses and drawn the ire of regulators.

Wells Fargo has said it doesn't expect to escape the Fed's unprecedented asset cap, which was imposed in February, until next year.

Regulators also charged Wells Fargo Lorena Antoniazzi striped jacket Pre Order Cheap Price RPkmh
for forcing customers into unneeded auto insurance and charging them unnecessary mortgage fees.

Wells Fargo said on Friday that it suffered $619 million of operating losses for "previously disclosed matters," including policies, practices and procedures in its foreign exchange business. Wells Fargo previously said that the government has inquired about this unit.

Now, the bank announced it has set aside $171 million to refund customers who may have received unfair foreign-exchange prices. Wells Fargo said this is part of "efforts to make things right and rebuild trust."

CNNMoney (New York) First published July 13, 2018: 9:04 AM ET
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Jazz at Lincoln Center Orchestra with Wynton Marsalis
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Hailed as "an extraordinarily versatile orchestra" by , the Jazz At Lincoln Center Orchestrais composed of 15 of jazz music's leading soloists under the leadership of musical director Wynton Marsalis.

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Drawing from an extensive repertoire that includes original compositions by Mr. Marsalis, Ted Nash, and other members of the orchestra, as well as the masterworks of Ellington, Mingus, Coltrane, and other great jazz composers, the Jazz at Lincoln Center Orchestra with Wynton Marsalis concerts are internationally critically-acclaimed.

Over the last few years, the Jazz at Lincoln Center Orchestra has performed collaborations with many of the world’s leading symphony orchestras, including the New York Philharmonic, the Russian National Orchestra, the Berlin Philharmonic Orchestra, the Boston, Chicago and London Symphony Orchestras, the Orchestra Esperimentale in São Paolo, Brazil and others. In 2006, the Jazz at Lincoln Center Orchestra collaborated with Ghanaian drum collective Odadaa!, led by Yacub Addy, to perform “Congo Square,” a composition Mr. Marsalis and Mr. Addy co-wrote and dedicated to Mr. Marsalis’ native New Orleans.

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