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Kristy Fercho, who's run the bank's home lending division since August 2020, will report directly to CEO Charlie Scharf and sit on the operating committee. Last year, she became the first Black person to chair the Mortgage Bankers Association, and she took the top spot in American Banker's Most Powerful Women to Watch this year.

The Platform Solutions group, headed by former chief strategy officer Stephanie Cohen, is building embedded banking solutions for corporate clients.

Rising interest rates are forcing credit unions to pay more for deposits while they are sitting on low-yielding loans, according to the National Credit Union Administration's eastern regional director, John Kutchey.

Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.

Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

Bank of America has told its global markets employees that they're required to be in the office almost every day as the Wall Street firm seeks to restore some of the culture that prevailed before the pandemic.

The overall technology sector may be downsizing, but American Express is bulking up for a cross-department innovation initiative, and Visa, Mastercard and Discover are hiring thousands of programmers and developers.

Wells Fargo, which set aside $2 billion last quarter to deal with legal matters, said it's in discussions with the Consumer Financial Protection Bureau to resolve investigations.

An ex-Deutsche Bank precious-metals trader has asked the U.S. Supreme Court to overturn his conviction for manipulating gold and silver prices with fake "spoof" trade orders.

India's central bank started a pilot program of its digital currency Tuesday, allowing select banks to use it for settling secondary-market transactions in government securities.