The fireworks that traditionally accompany big bank CEOs' appearances in Congress were absent Wednesday, but instead executives pushed their opposition to the Basel III capital rules and its impact on the economy. 

Frustrated by its inability to overcome loan-servicing mistakes that triggered three separate regulatory consent orders, Discover Financial Services elected to sell its student loan business. "When we looked at it, we have perennial issues in our ability to service that portfolio," a top executive said.

The nation's largest bank has already completed many of the branch closings that can boost its earnings, leaving it with "less and less accretive opportunities to consolidate," according to a top executive.

The North Carolina-based bank is considering the idea of selling a portion of its securities portfolio as a way to build capital, CEO Bill Rogers said Tuesday. At the end of the third quarter, Truist's securities were worth about 20% less than what the company paid for them.

Commonwealth Bank of Australia has developed an advanced artificial intelligence tool that can spot harassment in transaction messages.

The number of government-backed home loans transferred from one borrower to another is up significantly this year as prospective buyers look for ways to avoid elevated interest rates. Some say this is the beginning of a larger movement, but others say regulatory hurdles will get in the way.

The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.

Early Warning Services, which operates the peer-to-peer network, is among the latest to take a creative approach to educating consumers about the relentless onslaught of fraud schemes.

The two companies announced the deal more than a year ago and had anticipated closing it in the first half of 2023. But advocacy groups have urged regulators to withhold approval, arguing that it will hurt consumers.

Rep. Maxine Waters pressed executives from City National Bank, PNC Financial Services and Wells Fargo on opening branches in her California district and upholding promises made from recent merger agreements or consent orders.