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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net (loss) income $ (79) $ 650 $ 596
CASH FLOWS FROM OPERATING ACTIVITIES:      
Provision for credit losses 833 133 3
Intangible asset amortization 126 5 0
Depreciation 39 18 21
Amortization of discounts and premiums, net 221 (37) (5)
Net loss on securities 1 2 0
Net gain on sales of loans (89) (5) (1)
Net gain on sales of fixed assets 0 (2) 0
Gain on business acquisition (2,131) (159) 0
Goodwill impairment 2,426 0 0
Stock-based compensation 47 29 31
Deferred tax expense (187) (3) (13)
Changes in operating assets and liabilities:      
(Increase) decrease in other assets (721) 348 (284)
Decrease in other liabilities (255) (100) (6)
Purchases of securities held for trading (10) (75) (110)
Proceeds from sales of securities held for trading 10 75 110
Change in loans held for sale, net 32 147 (52)
Net cash provided by operating activities 263 1,026 290
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from repayment of securities available for sale 1,402 732 1,728
Proceeds from sales of securities available for sale including loans that have been securitized 1,858 228 0
Purchase of securities available for sale (3,046) (2,242) (1,796)
Redemption of Federal Home Loan Bank stock 1,501 635 92
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock (1,626) (839) (112)
Proceeds from bank-owned life insurance, net 30 16 12
Proceeds from sales of loans 0 0 37
Purchases of loans 0 162 161
Net proceeds from sales of MSR's 50 0 0
Other changes in loans, net 4,331 5,019 2,558
Purchases of premises and equipment, net (66) (3) (4)
Cash acquired in business acquisition 24,901 331 0
Net cash provided by (used in) investing activities 20,673 (6,323) (2,762)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net (decrease) increase in deposits (10,738) 7,662 2,622
Net (decrease) increase in short-term borrowed funds (550) 2,550 950
Proceeds from long-term borrowed funds 19,850 9,479 2,072
Repayments of long-term borrowed funds (19,374) (13,960) (2,544)
Net disbursement of payments of loans serviced for others (66) (189) 0
Cash dividends paid on common stock (486) (317) (316)
Cash dividends paid on preferred stock (33) (33) (33)
Treasury stock repurchased 0 (7) 0
Payments relating to treasury shares received for restricted stock award tax payments (12) (17) (16)
Net cash (used in) provided by financing activities (11,409) 5,168 2,735
Net increase in cash, cash equivalents and restricted cash [1] 9,527 (129) 263
Cash and cash equivalents at beginning of year [1] 2,082 2,211 1,948
Cash and cash equivalents at end of year [1] 11,609 2,082 2,211
Supplemental Cash Flow Information [Abstract]      
Cash paid for interest 2,290 657 402
Cash paid for income taxes 54 17 471
Non-cash investing and financing activities:      
Transfers to repossessed assets from loans 9 0 1
Securitization of loans to mortgage-backed securities available for sale 222 162 161
Transfer of loans from held for investment to held for sale 163 0 52
Securitization of loans to mortgage-backed securities available for sale 0 0 94
MSRs resulting from sale or securitization of loans 0 19 0
Business Combinations:      
Fair value of tangible assets acquired 37,384 24,449 0
Intangible assets 464 292 0
Mortgage servicing rights 0 1,012 0
Liabilities assumed 35,632 23,584 0
Common Stock issued in business combination   2,010 0
Issuance of FDIC Equity appreciation instrument 85 0 0
Restricted stock units      
Non-cash investing and financing activities:      
Shares issued for restricted stock awards 31 33 28
Business Combinations:      
Shares issued for restricted stock awards 31 $ 33 $ 28
Flagstar Bancorp      
Non-cash investing and financing activities:      
Shares issued for restricted stock awards 0    
Business Combinations:      
Shares issued for restricted stock awards $ 0    
[1] For further information on restricted cash, see Note 2 - Summary of Significant Accounting Policies