Revenue from Contracts with Customers Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2019

Revenue from Contracts with Customers [Abstract]

Revenue from Contract with Customer

REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue from contracts with customers comprises the noninterest income earned by the Corporation in exchange for services provided to customers. The following table presents the composition of revenue from contracts with customers, segregated from other sources of noninterest income, by business segment.

	Business Bank		Retail Bank		Wealth Management		Finance & Other		Total
(in millions)
Year Ended December 31, 2019
Revenue from contracts with customers:
Card fees	$	213	$	40	$	4	$	—	$	257
Fiduciary income	—		—		206		—		206
Service charges on deposit accounts	130		68		5		—		203
Commercial loan servicing fees (a)	18		—		—		—		18
Brokerage fees	—		—		28		—		28
Other noninterest income (b)	8		11		18		—		37
Total revenue from contracts with customers	369		119		261		—		749
Other sources of noninterest income	186		13		9		53		261
Total noninterest income	$	555	$	132	$	270	$	53	$	1,010
Year Ended December 31, 2018
Revenue from contracts with customers:
Card fees (c)	$	201	$	39	$	4	$	—	$	244
Fiduciary income	—		—		206		—		206
Service charges on deposit accounts (c)	134		72		5		—		211
Commercial loan servicing fees (a)	18		—		—		—		18
Brokerage fees	—		—		27		—		27
Other noninterest income (b)	12		19		17		1		49
Total revenue from contracts with customers	365		130		259		1		755
Other sources of noninterest income	182		6		7		26		221
Total noninterest income	$	547	$	136	$	266	$	27	$	976
Year Ended December 31, 2017
Card fees	$	285	$	43	$	5	$	—	$	333
Fiduciary income	—		—		198		—		198
Services charges on deposit accounts	143		79		5		—		227
Commercial lending fees	84		—		1		—		85
Letter of credit fees	44		—		1		—		45
Bank-owned life insurance	—		—		—		43		43
Foreign exchange income	43		—		2		—		45
Brokerage fees	—		—		23		—		23
Other noninterest income	40		32		20		16		108
Total noninterest income	$	639	$	154	$	255	$	59	$	1,107

(a) Included in commercial lending fees on the Consolidated Statements of Income.

(b) Excludes derivative, warrant and other miscellaneous income.

(c) Adoption of Topic 606 resulted in a change in presentation which records certain costs in the same category as the associated revenues. The effect of this change was to reduce card fees by $140 million and service charges on deposit accounts by $5 million for the twelve months ended December 31, 2018. Refer to Note 1 for further information.

Adjustments to revenue during the years ended December 31, 2019 and 2018 for refunds or credits relating to prior periods were not significant.

Revenue from contracts with customers did not generate significant contract assets and liabilities.