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Yie-Hsin Hung will join State Street Global Advisors in December, succeeding Cyrus Taraporevala, who has been CEO since 2016. The hiring comes as the Boston-based custody bank continues to await regulatory approval for its acquisition of Brown Brothers Harriman's investor services division.

President Biden's loan forgiveness plan will wipe out about one-third of student debt owed to the federal government, with lower-income borrowers and those living in Southern states getting the biggest boost, according to analysis by the Federal Reserve Bank of New York.

Celsius Network Chief Executive Alex Mashinsky, who founded the embattled crypto startup and served as pitchman for the sky-high yields it promised to its thousands of investors, is stepping down as the company works its way through bankruptcy.

Angel Oak Capital Advisors has helped institutional clients buy subordinated debt with the assistance of a distributed ledger developed by Brightvine. Benefits to the issuer and investors include a central place to find all documents and automated updates when banks pay off their loans.

U.S. regulators are poised to announce a settlement of about $2 billion with firms across Wall Street for failing to monitor employees using unauthorized messaging apps.

During a panel discussion with other central bankers, the Federal Reserve chair weighed in on digital currencies, public and private alike. He also called on Congress to pass authorizing legislation of digital-asset regulation.

Investor activity in the housing market has had a nominal impact on the cost of housing, the head of the National Rental Home Council writes, citing research by one of the government-sponsored enterprises. Supply-demand imbalance is the primary driver of price appreciation, he argues.

The University of Maryland program announced a 10-year partnership with SECU in Maryland, and Seton Hall University's program will partner with Affinity Federal Credit Union in New Jersey.

Russian billionaire Petr Aven, fighting a U.K. investigation for evading sanctions, used companies supposed to manage expenses for his luxury mansion as a personal "piggy bank," according to British authorities.

Citigroup appointed Grant Carson to manage its operations in Russia as a stand-alone entity as the U.S. bank reduces its business in the country following President Vladimir Putin's invasion of Ukraine.