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First Interstate Bancsystem is taking a $49.3 million hit from a loan to a troubled distribution company, a charge-off that one analyst described as larger than expected.

Truist Financial said Monday its chief operating officer is retiring and that the bank won't seek a replacement, the latest step to simplify the company's operations amid its years-long strategy overhaul.

The Consumer Financial Protection Bureau sued Capital One Financial on Tuesday, arguing it cheated some longstanding customers by not offering the high interest rates it offered newer savers.

profits soared 47% in the fourth quarter of last year as dealmaking and wealth management fees helped offset weaker interest income.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

The bank is "very optimistic" that President-elect Donald Trump will appoint financial regulators who are "more balanced" than current agency heads, said Daryl Bible, chief financial officer of the Buffalo, New York-based bank.

The Connecticut-based bank outpaced the industry's muted loan growth last year. CEO John Ciulla said he expects further growth, citing business clients' "decidedly positive" bias.

Capital One Financial is doubling down on the U.S. consumer, as households' still-solid finances mean they can repay their credit cards and auto loans without falling into financial trouble.

Auto lender Ally Financial said Wednesday that it's officially ending its foray into credit cards under a broader restructuring, even as credit issues in its flagship auto loan business showed signs of waning.

The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."