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While many banks and financial service companies play out on the global stage, the industry itself can be smaller than it seems. Many of the honorees on this year's list worked at the same companies during their careers. Here is a look at those connections.

Some lenders are once again hiring mortgage lenders, but memories of the painful staffing cuts they were forced to make over the past two years remain top of mind.

Huge portfolios of outstanding private credit, issued by lenders completely free of banklike supervision and safety and soundness requirements, are almost certainly of lower quality than banks' loan portfolios. If they implode, the damage could be extensive.

The Financial Stability Board plans to publish a consultation report next year suggesting how authorities could monitor vulnerabilities and use policy measures to address systemic risk from nonbank financial intermediaries' leverage.

Enforcement actions from the Consumer Financial Protection Bureau still fresh in the mind of financial leaders have renewed hopes that a second Trump administration will favorably alter the agency's future.

Consumer Financial Protection Bureau Director Rohit Chopra said it is "fundamentally unfair" that uninsured depositors at Silicon Valley Bank and Signature Bank got a reprieve from regulators while those at First National Bank of Lindsay did not.

Elevations Credit Union is paying athletes at the University of Colorado Boulder by way of a new credit card. The annual fee, plus two cents per transaction, will go to a collective that provides financial support to Buffaloes players.

The bureau suggested this week that states should remove the exemptions banks enjoy from data privacy laws. California is a prime candidate to act.

The North Dakota governor's real estate background and affordable housing policies fit with the president-elect's plan to open up federal lands for new home construction.

Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.

The number of banks announcing plans to sell this year reached 108 by the end of Oct.; Truist Financial promoted Brad Bender to chief risk officer; Old Point Financial made Cathy W. Liles its chief financial officer; and more in this week's banking news roundup.

Donald Trump discussed various items related to the Fed and its independence and stated he would not nominate Jerome Powell for another term as chair. Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, discusses what a Trump presidency may mean for the Fed.

Sam Valverde, acting president of Ginnie Mae, has resigned after about six months in the job.

In its semiannual supervision and regulation report, the Federal Reserve flagged climbing loan delinquencies and a rising number of large bank citations for governance and controls.

The president-elect has nominated Jay Clayton to be U.S. Attorney for Manhattan. Clayton has no experience as a federal prosecutor.

The card brand uses a new form of generative AI that improves data sourcing, making human involvement less necessary.

The bank's U.S. operations will be closely monitored during a yearslong probationary period, during which any sign of backsliding could trigger swift punitive action.

Treasury yields rose the day after President-elect Donald Trump was picked. The short-term result: It's harder for commercial real estate lenders and borrowers to find common ground.

The Federal Reserve chair said there are no economic indicators calling for rapid rate cuts. He also addressed Fed independence, the impact of Trump's economic agenda and more.