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The megabank's scale hasn't made it immune from the deposit wars that have crimped bank profits. But the "stabilization" that Wells Fargo flagged is a positive sign as other banks start reporting earnings.

The megabank reported a big increase in credit costs for the third quarter, which included a reserve build of $1 billion.

Canaccord Genuity Group hires Nadine Ahn, who was fired from Royal Bank of Canada in April; Citigroup establishes a new banking executive team to oversee its commercial and investment banking work under Vis Raghavan; and more in this week's banking news roundup.

The Supreme Court ruled this year that companies facing civil money penalties have the right to request a jury trial. The ruling is going to change the way regulators and companies think about enforcement actions.

Experts at Citi, Morgan Stanley and the London Stock Exchange have written a governance framework banks can use to mitigate the risks of generative AI.

While companies trust banks and typically maintain their core relationship with small businesses, the industry's dominant position is hardly set in stone, according to a survey by American Banker.

The Canadian bank's stateside retail operations will be hamstrung by a massive anti-money-laundering settlement. But executives said the company can lean on both its Wall Street business and lines of revenue north of the border.

The Canadian bank is indefinitely prohibited from growing assets at its two U.S. subsidiaries as the result of a sweeping settlement over money-laundering violations. While only the second imposition of such a penalty ever, experts say it will not be the last.

The giant card network and the global bank are combining their scale to boost real-time cross-border transfers as fintechs target the market.

President Joe Biden called on Congress to return to Washington to make sure Small Business Administration loans don't run out after Hurricanes Milton and Helene devastated large swaths of the Southeast.