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The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.

The emerging industry could be worth as much as $480 billion in two years, and payments are central to that growth.

The two companies continue to tick items off their year-end to-do list, which analysts hope will tee up the merger for finalization in early 2025. Regulatory approval remains a major question.

The industry agenda calls for amending longstanding rules like loan officer compensation, to nixing Biden-era plans trade groups say hurt both consumers and industry players.

The custody bank achieved its goal for the amount of deposits it placed into minority banks and community development financial institutions by the end of the year.

The Consumer Financial Protection Bureau sued Walmart and payment app Branch Messenger, accusing them of illegally opening 1 million deposit accounts and charging $10 million in fees. Branch said the agency refused to engage in any meaningful way about the matter.

Bank of America must overhaul anti-money-laundering protocols and hire third-party consultants, but will not face growth limits, following OCC action for compliance deficiencies.

Releasing the GSEs from government conservatorship is on the agenda for the incoming Trump administration. Doing so could threaten the 30-year fixed rate mortgage.

The U.S. is risking the status of the dollar as the world's reserve currency by delaying the launch of a central bank digital currency. Adopting a "federated" version of a CBDC could answer the concerns of many skeptics.

Economists say the U.S. economy is leaving 2024 healthy, with unemployment low, inflation manageable and growth robust. Unknown variables — including the depth and scope of President-elect Donald Trump's immigration and tariff policies — could change that course, but likely not until 2026.

Hanscom Federal Credit Union in Massachusetts said it would acquire Peoples Bancorp and its insurance agency. It marked the 21st deal of the year involving a credit union buying a bank.

The OCC's 2024 annual report said that while the federal banking system remains stable, it faces challenges such as rising credit costs, declining net income and increasing nonperforming loans. 

BNY announced expanded employee benefits and a boost in its minimum wage for all U.S.-based employees; Synovus has added former FIS executive Greg Montana to its executive board; National Bank Holdings sold off a fifth of its securities portfolio; and more in this week's banking news roundup.

The Capital One-Discover merger, the war against Visa and Mastercards' swipe fees and budding payment technologies were most popular with American Banker readers in 2024.

Financial institutions that build a presence on the social media platform could gain a first-mover advantage and a communications channel with potential customers, experts say.

The Consumer Financial Protection Bureau sued three of the largest U.S. banks for fraud perpetrated on the bank-owned payment network Zelle, alleging shoddy safeguards and millions in consumer losses.

Flood insurance could hold up some home sales and lending, while major bank regulatory agencies will remain funded even if the government is unable to pass the necessary legislation before funding runs out.

By naming David Sacks as his "AI & Crypto Czar," Donald Trump has sent a strong signal that forward-thinking regulation of the most vibrant sector of the financial services industry could be on the way.

The proposal has similar elements to Republican-led legislation, including a piece of a measure from Vice President-elect JD Vance.

The Federal Deposit Insurance Corp.'s decision to weigh civil lawsuits against Silicon Valley Bank executives to recover losses to its Deposit Insurance Fund isn't rare in itself, but the bipartisan nature of the move and size of the failed institution suggest a current that isn't changing with the presidential administration.