The Most Powerful Women in Banking

UBS promoted female bankers to key positions at the top of world's largest wealth manager, broadening the pool of potential candidates to eventually succeed Chief Executive Sergio Ermotti and bringing more diversity to the board.

Sheila Bair, who holds board seats at several other organizations, will sit on Fannie's compensation, corporate governance and risk policy committees.

After a news report said the bank kept alive accounts customers thought they had closed, Sen. Elizabeth Warren told acting CEO Allen Parker in a letter that Wells is "still fundamentally broken."

With women and minorities holding less than 25% of top positions at the eight largest U.S. banks, House Financial Services Committee Chairwoman Maxine Waters and other Democrats called on banks to improve their recruiting efforts and invest in programs aimed at building pipelines of diverse talent.

CIT Group will gain nearly $7 billion in low-cost deposits, mostly tied to homeowners associations, as part of the acquisition.