Retail & Commercial

The bank is "very optimistic" that Trump will appoint financial regulators who are "more balanced" than current agency heads, CFO Daryl Bible said.

The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.

Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

Advisors predicted that more banks will do deals and those transactions will be larger in 2025 amid expectations for lighter regulatory scrutiny.

The largest U.S. bank by assets has elevated Jennifer Piepszak to chief operating officer, in preparation for Daniel Pinto's retirement in 2026. But Piepszak is not interested in being CEO, the company said.

Banks seeking to offload CRE assets are finding a receptive marketplace while regulators have managed to keep the situation in balance, observers say.

The bank didn't give some existing customers the higher rates it was offering new customers, the agency alleged. The bank said it would fight the suit, which comes just days before the Trump administration takes over the regulator.

The top five banks and thrifts had combined assets of more than $13 trillion as of Sept. 30.