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The online student lender said it is reallocating some jobs and "sunsetting" others. ... Read full article

The Fiserv-First Data deal, valued at about $22 billion, will combine two of the financial services industry's largest technology and processing companies. ... Read full article

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns. ... Read full article

The new chair of the House Financial Services Committee has an ambitious set of priorities, but newly elected progressives could set up a conflict with more moderate Democrats on the panel. ... Read full article

Bank of America CEO Brian Moynihan and his fellow executives said they see nothing to suggest a slowdown is imminent. Their outlook was far more upbeat than that of JPMorgan chief Jamie Dimon. ... Read full article

The numbers behind Fiserv's deal to acquire First Data are huge, particularly considering each company's existing tonnage still makes consolidation the best play when faced with nimble fintechs and mobile startups. ... Read full article

Sen. Elizabeth Warren questioned the five largest U.S. retail banks in a letter on what they are doing to reduce the impact of the government shutdown on customers. ... Read full article

PNC chief Bill Demchak says he's pretty sure the U.S. isn’t heading into recession, but asset quality is so strong that the regional bank is giving itself a wide berth in forecasting its loan-loss provision in case of the unexpected. ... Read full article

The large core banking software vendors are already criticized as large and slow-moving. Consolidations like these are only likely to make them more so. ... Read full article

The nation’s fifth-largest bank now has the financial flexibility to consolidate more branches in existing markets and open new, smaller ones in cities where it has no retail presence, CEO Andy Cecere said. ... Read full article

JPMorgan Chase Chief Executive Jamie Dimon said he thinks a hard Brexit is unlikely but would be a "disaster" if it happened. ... Read full article

American homeownership has been on the decline, and Federal Reserve researchers point to the high cost of college as one culprit. ... Read full article

A federal appeals court ruling that found the leadership structure of the FHFA unconstitutional will face an "en banc" review later this month. ... Read full article

The Federal Reserve has suggested it could join the market for instant interbank payments, but private sector entrants would be better. ... Read full article

Deutsche Bank's key regulators would prefer the lender merge with a European rival rather than local competitor Commerzbank, setting them apart from forces in the government keen on an all-German deal. ... Read full article

The Dallas company beat earnings estimates even as it reported declines in deposits, total loans and fee income. ... Read full article

The company owning brands such as Kay Jewelers and Jared the Galleria of Jewelry will pay $11 million under a settlement with the consumer bureau and New York's attorney general. ... Read full article

The company's fourth-quarter results were also stymied by costs tied to severance and litigation, along with investments in technology. ... Read full article