The leaders of the biggest U.S. banks are likely to be summoned to face questions from the Financial Services Committee, an early sign that the financial industry will endure tougher scrutiny under a Democratic-controlled House.

Wells Fargo named Steve Troutner head of the community bank's U.S. Western region, one of the unit's most senior outside hires since a scandal over bogus accounts erupted more than two years ago.

The bank says regulators want information about its possible role in the money laundering scandal; Kristi Mitchem moves to BMO Global Asset Management.

In letters to the Treasury secretary and CEOs of the largest banks, the Massachusetts Democrat questioned why Mnuchin was trying to quell liquidity fears that had not previously been mentioned by regulators.

A CFPB report revealed that the fees charged to college students by Wells Fargo for financial products are three times higher than average. Sen. Warren wants to know why.

Sen. Elizabeth Warren questioned the five largest U.S. retail banks in a letter on what they are doing to reduce the impact of the government shutdown on customers.

The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations.

Now that Wells must abide by the central bank's asset cap through year-end, it may have to divest more nonessential assets and take other steps to open up room for core loan growth.

Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business.

Revenue slumped 5% in the fourth quarter, the third drop in the past year and a bigger one than analysts had expected.