Big banks needed M&A to roar back in 2024. It’s happening.

News Snapshot:

Wall Street banks really needed dealmaking to make a comeback. It may finally be happening. The volume of US mergers and acquisitions is up 130% so far this quarter, at $288 billion, according to data from Dealogic, while worldwide M&A is up 56% to $453 billion. That surge includes three major deals announced this week in the US. Credit card lender Capital One (COF) said it would acquire rival Discover Financial Services (DFS) for roughly $35 billion. Charlotte based regional bank Truist Financial (TFC) said it would sell its remaining $15.5 billion stake in an insurance arm. And retailing giant...