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For more than a decade, the bank allowed billions of dollars from illicit activities to flow through the U.S. financial system unchecked. Some are wondering why examiners didn't put a stop to it sooner.

The top five banks and thrifts had combined assets of more than $13 trillion as of June 30, 2024.

The investment banking giant is selling its General Motors credit card portfolio to Barclays, which is looking to grow and diversify its U.S. cards business. It's part of Goldman's retreat from consumer banking.

The Consumer Financial Protection Bureau and Department of Justice issued a consent order against Wisconsin-based nonbank mortgage originator Fairway Independent Mortgage over redlining allegations. Fairway is the country's fifth-largest mortgage originator by volume.

Eric Hovde, CEO of Sunwest Bank and Republican nominee for Senate in Wisconsin, is running a tight race against incumbent Democratic Sen. Tammy Baldwin. In an interview with American Banker, Hovde talked about wanting to deregulate the banking industry and bring financial savvy to Washington.

The Pittsburgh-based company's earnings fell 4% in the third quarter from a year ago, although noninterest income climbed 11%.

American Banker's annual recognition of the most powerful women in banking includes two CIOs and the newly created position of chief data and analytics officer at a megabank.

The former president has vowed to carry out an aggressive campaign of deregulation, renew expiring tax cuts, lower the corporate tax rate to 15% from 21%, and offer fresh tax reductions and benefits to bolster domestic manufacturing — policies cheered by prominent Wall Street and corporate leaders. 

Regulators' asset cap on TD Bank for money-laundering violations has cemented the enforcement tool as a supreme cudgel to rein in problem banks, while other tools devised in the wake of the Great Financial Crisis gather dust.

Caution among business owners has held down loans at the megabank and many of its smaller competitors. But third-quarter earnings suggest activity is rebounding.