A mixed-race couple claims a "whitewashed" valuation in 2023 returned a price 39% higher than the depository-approved result a year earlier.

A lawyer says the industry has been on notice at least since the "Boom Boom Room" scandal of the 1980s that hostile workplaces won't be tolerated.

Rep. Maxine Waters, ranking member of the House Financial Services Committee, led the letter, spurred by the recent merger announcement between Capital One and Discover, which the letter said would enable the merged company "to influence multiple points of the marketplace."

The top five bank M&A deals had a combined target asset volume of more than $480 billion

Bharat Masrani has spent a decade as the Canadian bank's top executive and is pushing 70. But as the bank undergoes a U.S. Justice Department probe, it's unclear when he'll step down or who's next in line.

CEO Charlie Scharf has added another former JPMorgan Chase colleague to his leadership team as his shake-up of Wells Fargo continues. The hire of veteran investment banker Doug Braunstein comes as Scharf makes progress on his efforts to grow Wells' investment bank.

Scotiabank was the only large Canadian lender to shrink its domestic mortgage book last year, and it actively sought out more core deposits to lower its cost of funding.

The lawmakers, led by Sen. Elizabeth Warren, D-Mass., said the deal would further anti-consumer bank consolidation, but also criticized the OCC's proposed changes to the merger process, asking that they be strengthened.

BMO Financial Group doubled its mainframe capacity, prepared a cloud staging platform and used chaos engineering to ensure its Bank of the West integration went smoothly.

An FDIC enforcement action against Lineage Bank is part of a wave of cases involving banks that have partnered with fintechs in recent years.

The Department of Justice appoints Jonathan Mayer as its first chief AI officer, HTLF's CEO Bruce Lee plans to retire, Wilmington Trust's Doris Meister will step down in May, and more in the weekly banking news roundup.

The USDA forecasted farm profits will plunge 26% this year, potentially creating credit quality challenges for lenders.

The two companies in the largest bank merger since the 2008 financial crisis released details of their agreement. It leaves the door open for Discover to field better offers, though the payments company would pay a break-up fee of 4% if it accepts one.

In the wake of the largest U.S. bank deal in more than 15 years, industry executives offered mixed views about the prospects for more big acquisitions. They also spoke about the deal's impact on competition in the credit card business.

CFO Hope Dmuchowski said investors are growing increasingly nervous about banks that expand their loan portfolios too quickly after the collapse of Silicon Valley Bank and other regional lenders last year.

The credit card lender's blockbuster acquisition of Discover is not guaranteed to get across the finish line. But co-founder and CEO Richard Fairbank appears to see the rewards that would come from controlling a payments network as outweighing the potential downside.

Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Durbin, D-Ill. — which aims to spur competition for Visa and Mastercard.

London-based global money-transfer firm TerraPay has hired Ruben Salazar Genovez, the longtime global head of Visa Direct, in a new role as the startup's president; U.K. challenger bank Revolut has added a tool that uses machine learning to flag payments for fraud; and more.

In implementing Section 1033, the Consumer Financial Protection Bureau is leaving out auto loans, one of the largest sources of consumer debt.

The combined company could streamline card payments in a manner similar to American Express' "three party network" — while also doing more with artificial intelligence and other technologies.