A general operator expansion is presented for quark and lepton mass matrices in unified theories based on a U(2) flavor symmetry, with breaking parameter of order $V_{cb} \approx m_s/m_b \approx \sqrt{m_c/m_t}$. While solving the supersymmetric flavor-changing problem, a general form for the Yukawa couplings follows, leading to 9 relations among the fermion masses and mixings, 5 of which are precise. The combination of grand unified and U(2) symmetries provides a symmetry understanding for the anomalously small values of $m_u/m_c$ and $m_c/m_t$. A fit to the fermion mass data leads to a prediction for the angles of the CKM unitarity triangle, which will allow a significant test of these unified U(2) theories. A particular SO(10) model provides a simple realization of the general operator expansion. The lighter generation masses and the non-trivial structure of the CKM matrix are generated from the exchange of a single U(2) doublet of heavy vector generations. This model suggests that CP is spontaneously broken at the unification scale --- in which case there is a further reduction in the number of free parameters.

31 pages, 3 .eps figures included