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S&P lowers the bank’s rating to A-minus following Federal Reserve sanctions on growth; 13 are arrested after alleging defrauding banks of $530 million over seven years. ... Read full article

Sen. Elizabeth Warren released a scathing report Wednesday on Equifax's handling of the data breach last year, part of an effort to gain backing for legislation to rein in the credit bureaus. ... Read full article

The U.S. banking arm of the Dutch lender Rabobank has forfeited nearly $370 million for anti-money laundering deficiencies that authorities say allowed untraceable money transfers on behalf of criminals. ... Read full article

The examination of its enforcement policies is part of a comprehensive review of all agency procedures that acting Consumer Financial Protection Director Mick Mulvaney launched last month. ... Read full article

As conservator, FHFA Director Mel Watt has substantial leeway to remake the government-sponsored enterprises without congressional input. Here's one way he might do so. ... Read full article

It’s not necessarily new, but a confluence of trends — advances in technology, changing consumer preferences and banks’ need to diversify their balance sheets — has made it more popular than ever. ... Read full article

The banks behind the Zelle network had more in mind than P-to-P payments between consumers, and BNY Mellon is beginning the network's evolution by targeting business payments market. ... Read full article

After facing a landmark sexual harassment lawsuit in the mid-1990s, the banking industry has improved its codes of conduct and training on sexual harassment issues, CIT Chief Executive Ellen Alemany said during a panel discussion Wednesday morning. ... Read full article

Warburg Pincus has agreed to buy a majority stake in a mortgage and consumer loan origination and servicing platform owned by Fiserv. ... Read full article

Goldman Sachs is in discussions to acquire the personal finance startup Clarity Money, with plans to fold it into its Marcus online lender, according to people familiar with the matter. ... Read full article

The one-notch downgrade, announced Wednesday, came in response to the Fed's unprecedented decision to halt asset growth at the embattled bank. ... Read full article

Bank of America hired Davis Polk & Wardwell to conduct an internal review of a $292 million charge-off in the fourth quarter, according to a person familiar with the matter. ... Read full article

Citigroup said an Italian court rejected a €1.8 billion ($2.2 billion) civil claim filed by Parmalat against the bank over the food company's collapse in 2003. ... Read full article

Regulators have repeatedly found that financial firms with more than $100 billion in assets can pose systemic risks. ... Read full article

The SEC and CFTC ask Congress to expand federal oversight of cryptocurrency trading; the recent wild swings in financial markets may boost first quarter trading revenue. ... Read full article

The continuing cycle of scandal has forced big banks to get crafty in how they influence debate in Washington. The latest action against Wells ensures more backroom dealing. ... Read full article

Bank stocks recovered some of their lost value on Tuesday on extremely high levels of trading volume. The lone exception: Wells Fargo. ... Read full article

Comptroller of the Currency Joseph Otting met Tuesday with acting CFPB Director Mick Mulvaney to discuss ways to reduce regulatory burden and coordinate supervision of financial firms. ... Read full article