Warren Buffett's Berkshire Hathaway, which cut many bank holdings as the pandemic bore down on the U.S., is back with a roughly $2.9 billion bet on Jane Fraser’s Citigroup even as it said goodbye to a longtime stake in Wells Fargo.

The wealth programs in the channel are going through a significant shift amid major recruiting moves and consolidation, according to a consultant’s report.

From the threat of cyberattacks to discriminatory lending practices, banks need to pay close attention to a number of significant challenges.

While millions of employees have voluntarily left their jobs over the past year, senior level industry leaders have continued to advance their careers.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

The banks that own the peer-to-peer payment network are reportedly considering a retail launch that could fend off rival payment methods — or simply cannibalize the sizable revenue issuers get from credit and debit cards.

Wells Fargo won an early round in a lawsuit accusing the bank of running a predatory mortgage lending scheme in the Atlanta area before the 2008 financial crisis and continuing to discriminate against minorities for more than a decade afterward.

Wells Fargo, which approved fewer than half of mortgage refinancings sought by Black homeowners in 2020, prompting calls for regulatory investigations, greenlighted a larger share of applications from such borrowers last year.

The megabank is dealing with one less regulatory headache following the termination of an enforcement action related to the sale of identity protection products.

Despite that year-over-year decline, the company beat analysts' expectations with fourth-quarter net income of $5.8 billion. Stronger commercial lending and lower expenses cushioned the blow in consumer credit.