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The megabanks that emerged relatively unscathed from the crisis are cited as proof of universal banking's benefits, but recent events have debunked that claim.

Receiving Wide Coverage ...More risky: Citigroup, Bank of America and Wells Fargo pose greater systemic risks to the global financial system than they did last year and had their capital requirements increased by regulators. The Financial Stability Board, which ranks the most systemically important financial institutions annually, also said Industrial and Commercial Bank of China presented more risk than last year. But HSBC, Barclays and Morgan Stanley—which sold all or part of their riskier businesses or reduced the size of them—were all deemed to be less systemically risky and had their capital requirements reduced. Globally, 30 banks are considered systemically important and subject to extra capital requirements. Financial Times, New York Times

It's the time of year to give thanks, and for bankers some things to be grateful for include rising stock prices, a brightening M&A outlook and, most notably, the potential for regulatory relief under President-elect Donald Trump. Here is a list of developments the industry might be celebrating this Thanksgiving holiday.

Mobile apps that allow consumers to control their payment cards are becoming more popular as banks use payment security as a way to build customer relationships.

Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime residential mortgage-backed securities in 2006 and 2007.

Independent Bank Group in McKinney, Texas, has agreed to buy Carlile Bancshares in Fort Worth, Texas.

India's move to remove much of the country's cash notes is having an adverse impact on much of the country's population, according to former U.S. Treasury Secretary Lawrence Summers.

The Credit Union National Association and the National Association of Federal Credit Unions have jointly filed an amicus brief supporting the NCUA's motion to dismiss the lawsuit recently filed by the Independent Community Bankers of America challenging the agency's authority to issue its latest member business lending rule.

As more Chinese citizens travel abroad, payment companies are lining up new products and collaborating with third parties to reach the growing market.

Bridge Bancorp in Bridgehampton, N.Y., is looking to raise $50 million by selling common stock.