Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.

Last October's structural reorganization prepped the firm for this year's volatility.

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."

Citigroup Inc. is structuring the so-called collateralized fund obligation, which will include both debt and equity portions.

This potential transaction would be part of a broader trend of mortgage lenders and servicing players converging, such as Rocket's recent acquisition of Mr. Cooper.

House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.

After rapid changes in U.S. trade policy, banks and their clients are putting merger deals on ice until the dust settles.

Wholesale firm Ardri's acquisition of The Lending Spot comes after the company installed a mortgage industry veteran as its new president earlier this year.

The global asset manager wanted access to the smaller company's residential mortgage credit strategies, which will become available to a larger investor base.

Following a record-setting 2024, only one transaction involving a credit union buying a bank has been announced so far this year. Seller concerns about regulatory approval and pushback from bank industry groups have contributed to the slowdown.