Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consisted of the following:

	September 30, 2016		December 31, 2015
	(in millions)
Mortgage servicing rights	$	—	$	140
Purchased credit card relationships	36		41
Total intangible assets	$	36	$	181

Fair Value of Residential MSRs

The following table summarizes the critical assumptions used to calculate the fair value of MSRs at December 31, 2015:

	December 31, 2015
Annualized constant prepayment rate	13.8	%
Constant discount rate	12.6	%
Weighted average life (in years)	4.5

Residential MSRs Activity

The following table summarizes MSRs activity during the three and nine months ended September 30, 2015:

	Three Months Ended September 30, 2015			Nine Months Ended September 30, 2015
	(in millions)
Fair value of MSRs:
Beginning balance	$	158		$	159
Changes in fair value due to changes in valuation inputs or assumptions	(21		)	(13		)
Reductions related to customer payments	(7		)	(16		)
Ending balance	$	130		$	130