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Markets appeared to welcome signs of future rate relief, with the latest Freddie Mac average falling for the fifth time in six weeks.

The bank said it would reduce its physical footprint by nearly 15% as part of an effort to reduce overlapping operations, drive cost savings and meet profitability targets tied to its May acquisition of Lakeland Bancorp.

Legislation enabling new banklike stablecoin issuers would create direct competition for deposits, with small U.S. banks in the most danger. Where is the pushback from the industry?

Longtime payments chief Takis Georgakopoulos is leaving the bank. New co-heads Umar Farooq and Max Neurkirchen are inheriting a powerhouse, but they face lots of challenges.

Like its Wall Street rival Morgan Stanley, Citi sees a path to trillions in client assets in its workplace division.

Peter Spiegel is the founder and CEO of Ideal Living, a company whose mission is to ensure everyone has access to affordable clean air and pure water, and a solid foundation for wellness. Peter is a pioneer in direct-to-consumer marketing and an avid wellness advocate. His innovative wellness products — that include AirDoctor, AquaTru and AromaTru — have over $3 billion in sales, and have become best sellers in major retailers, such as Walmart, Target and Costco.

The Federal Reserve chair said a rate cut would not solve the underlying issues driving up shelter costs, even as housing becomes a disproportionate driver of inflation.

A House Financial Services Committee's hearing on workplace misconduct at the Federal Deposit Insurance Corp. Wednesday offered Republicans an opportunity to call for FDIC Chair Martin Gruenberg's immediate resignation, but Democrats pushed back against the implication that Gruenberg alone is to blame.

After a disruption in February, LockBit roared back in May, highlighting persistent cyber threats to the financial sector.

Ted McRae is the director of marketing at MakersHub.ai.